Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Deribit against HTX+0.083%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.324%−$32 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.083%, 7d avg +0.046%

Together, before fees−0.385%−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.037% dearer against HTX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	96.570	0	get 0.0000% / 4h	3h 07m	$307K	$222K	75x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.650	0	get 0.0000% / 1h	7m 38s	$103K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → +0.046%: $3.71
Slippage, 4 orders: −$10.33
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.62
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from HTX: live order book, 64 min ago; Deribit: live order book, 1 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, 64 min ago	1.56 bp	7.6 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	0.52 bp	8.1 bp −$8	8.6 bp −$86	doesn't fit	doesn't fit

BZ on 31 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
Injective BRENT/USDC PERP	−0.0220%	1h	95.731	−0.869%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	+0.083%	$234K	$440K	15x	as long as short
BloFin BZ-USDT	−0.0021%	4h	96.690	+0.124%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.632	+0.065%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.635	+0.067%	$145.7M	$404.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.610	+0.041%	$10.4M	$15.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.610	+0.041%	$15.9M	$24.1M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.618	+0.050%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.580	+0.010%	$9.2M	$14.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.630	+0.062%	$27.6M	$17.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.609	+0.040%	$9.3M	$7.4M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.640	+0.072%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.650	+0.083%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	96.650	+0.083%	$103K	$271K	15x
HTX BRENTOIL-USDTlong	0.0000%	4h	96.570	long leg	$307K	$222K	75x
Phemex XBRUSDT	0.0000%	4h	96.630	+0.062%	$1.2M	$92K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	96.589	+0.019%	$221K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.165	+0.616%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.645	+0.078%	$83K	$220K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.630	+0.062%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.633	+0.065%	$723K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0039%	1h	96.610	+0.041%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.628	+0.060%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.67	+4.246%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.657	+0.090%	$151.6M	$137.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.684	+0.118%	$1.5M	$506K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.650	+0.083%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.670	+0.104%	$3.8M	$932K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.620	+0.052%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0199% / S +0.0128%	1h	96.635	+0.067%	$125K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0348%	1h	96.656	+0.090%	$7K	$45K	5x	as long as short