Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.008%

Price spread now: Kraken Futures against HTX+0.027%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.829%−$83 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.027%, 7d avg +0.054%

Together, before fees−0.867%−$87 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: Kraken Futures is 0.027% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	97.240	0	get 0.0000% / 4h	3h 25m	$279K	$251K	75x
Short	Kraken Futures PF_BRENTOILUSD	97.266	−0.0002	pay 0.0000% / 1h	25m 50s	$82K	$198K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$0.33
Price spread: +0.027% → +0.054%: −$2.71
Slippage, 4 orders: −$29.67
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$54.71
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from HTX: live order book, 6 min ago; Kraken Futures: live order book, 7 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, 6 min ago	3.60 bp	9.6 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 7 min ago	5.45 bp	16.2 bp −$16	31.9 bp −$319	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.270	+0.031%	$100K	$265K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.923%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0074%	1h	97.210	−0.031%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.240	0.000%	$237K	$409K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0052%	4h	97.256	+0.016%	$13K	$340K	25x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.256	+0.017%	$2.4M	$1.8M	20x	as long as short
BloFin BZ-USDT	−0.0006%	4h	97.390	+0.154%	$1.5M	$101K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	−0.0002%	1h	97.266	+0.027%	$82K	$198K	20x
Aster BZUSDT	0.0000%	4h	97.208	−0.033%	$337K	$714K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.150	−0.093%	$147.9M	$358.0M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BZUSDT	0.0000%	8h	97.160	−0.082%	$10.2M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.140	−0.103%	$16.2M	$20.1M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.100	−0.144%	$9.2M	$10.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.200	−0.041%	$27.9M	$19.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.269	+0.030%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.290	+0.051%	$4K	$2.3M	20x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	97.240	long leg	$279K	$251K	75x
Phemex XBRUSDT	0.0000%	4h	97.290	+0.051%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.26	+4.134%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.242	+0.002%	$223K	$230K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.119	+0.904%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.250	+0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.188	−0.054%	$753K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0045%	8h	97.284	+0.046%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.244	+0.004%	$154.6M	$117.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.300	+0.062%	$1.6M	$344K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0063%	1h	97.416	+0.181%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.270	+0.031%	$3.8M	$790K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.280	+0.041%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0272%	1h	97.460	+0.226%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.265	+0.026%	$115K	—	111x	as long as short