Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0472%/8h= −51.6% APRpaid last 24h +0.008%

Price spread now: GMX against HTX+0.026%7-day average +0.034% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now +0.026%, 7d avg +0.034%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.078%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.078% in total (about 9.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	95.870	0	get 0.0000% / 4h	2h 09m	$318K	$233K	75x
Short	GMX BRENTOIL/USD [ETH-USDC]	95.895	L −0.0746% / S +0.0472%	pay 0.0059% / 1h	9m 03s	$114K	—	29x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$99.03
Price spread: +0.026% → +0.034%: −$0.83
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$123.86
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 13 min ago; GMX: no order-book sample. Net counts fees only.

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, 13 min ago	2.61 bp	9.6 bp −$10	16.8 bp −$168	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L −0.0746% / S +0.0472%	1h	95.895	+0.026%	$114K	—	29x
Injective BRENT/USDC PERP	−0.0220%	1h	95.923	+0.055%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.188%	$232K	$859K	15x	as long as short
BloFin BZ-USDT	−0.0023%	4h	95.880	+0.010%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	−0.0001%	8h	95.927	+0.059%	$3K	$521	5x	as long as short
Aster BZUSDT	0.0000%	4h	95.950	+0.084%	$333K	$1.6M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.890	+0.021%	$145.6M	$491.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.052%	$10.2M	$17.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.860	−0.010%	$15.8M	$29.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.893	+0.024%	$2.2M	$1.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.870	0.000%	$9.1M	$19.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.880	+0.010%	$27.5M	$24.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	+0.044%	$9.5M	$10.6M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.908	+0.040%	$34K	$396K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.920	+0.052%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	95.870	long leg	$318K	$233K	75x
Phemex XBRUSDT	0.0000%	4h	95.910	+0.042%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	95.913	+0.045%	$219K	$233K	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.849	−0.022%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.360%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0048%	1h	95.900	+0.031%	$3.3M	$4.4M	20x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.933	+0.066%	$147.8M	$148.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.974	+0.108%	$1.5M	$540K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.890	+0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.840	−0.031%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	+0.052%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	95.920	+0.052%	$81K	$258K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0210%	1h	95.964	+0.098%	$6K	$45K	5x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0271%	1h	95.940	+0.073%	$102K	$280K	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0328%	1h	95.940	+0.073%	$33K	—	20x	as long as short