Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.031%

Price spread now: Coinbase International against HTX+0.198%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 3 days (all we have)−0.198%−$20 · spread now +0.198%, 7d avg −0.070%

Together, before fees−0.434%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.268% dearer against HTX than usual: you sell high and buy low (spread +0.198% now, against its 7-day average of −0.070%): +$27 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 56 days. At the pace of the last 7 days (−0.236% in total) that is about 8.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	95.860	0	get 0.0000% / 4h	1h 29m	$305K	$259K	75x
Short	Coinbase International BRENTOIL-PERP-INTX	96.050	−0.0016	pay 0.0002% / 1h	29m 37s	$232K	$661K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.198%Rate

Funding earned: −$3.36
Price spread: +0.198% → −0.070%: $26.82
Slippage, 4 orders: −$9.53
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$8.07
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from HTX: live order book, 53 min ago; Coinbase International: live order book, 54 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy HTX live order book, 53 min ago	2.61 bp	9.6 bp −$10	16.8 bp −$168	doesn't fit	doesn't fit
Sell Coinbase International live order book, 54 min ago	1.56 bp	6.6 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit

BZ on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	95.945	+0.089%	$120K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0228%	1h	95.930	+0.073%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.807%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.938	+0.082%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0016%	1h	96.050	+0.198%	$232K	$661K	15x
Aster BZUSDT	0.0000%	4h	95.941	+0.084%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.950	+0.094%	$145.6M	$480.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.063%	$10.2M	$16.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.940	+0.083%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.900	+0.042%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.910	+0.052%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	+0.055%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.920	+0.062%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.960	+0.104%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.970	+0.115%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	95.860	long leg	$305K	$259K	75x
Phemex XBRUSDT	0.0000%	4h	95.940	+0.083%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.924	+0.067%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.923	+0.066%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0006%	8h	95.951	+0.094%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	+0.083%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.904	+0.046%	$670K	$5.3M	10x	as long as short
BloFin BZ-USDT	+0.0045%	4h	95.900	+0.042%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.01	+4.329%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.974	+0.119%	$147.5M	$146.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.004	+0.150%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.970	+0.115%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	+0.063%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	95.980	+0.125%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.994	+0.140%	$81K	$240K	20x	as long as short