Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Bitget against Injective+0.170%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bitget is 0.170% dearer against Injective than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BRENT/USDC PERP	97.155	−0.0220	get 0.0028% / 1h	41m 08s	$8K	$7K	30x
Short	Bitget BZUSDT	97.320	0	get 0.0000% / 4h	41m 08s	$27.8M	$18.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +0.170%Rate

Funding earned: $46.2
Price spread: +0.170% → 0.000%: $16.98
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $51.16
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	0.51 bp	7.0 bp −$7	9.6 bp −$96	24.7 bp −$2,471	57.1 bp −$28.5K

Injective: 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 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 PERPlong	−0.0220%	1h	97.155	long leg	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.561%	$237K	$412K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.337	+0.188%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.320	+0.170%	$149.4M	$353.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.280	+0.129%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.310	+0.160%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.346	+0.197%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.290	+0.139%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	97.320	+0.170%	$27.8M	$18.3M	100x
Variational Omni BZ	0.0000%	4h	97.366	+0.217%	$9.5M	$6.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.497	+0.352%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.390	+0.242%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	+0.180%	$100K	$253K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.340	+0.190%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	+0.242%	$1.2M	$87K	100x	as long as short
BloFin BZ-USDT	+0.0001%	4h	97.260	+0.108%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.46	+4.431%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.823	+0.687%	—	—	—	as long as short
edgeX BZUSDC	+0.0016%	4h	97.501	+0.356%	$225K	$227K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0030%	1h	97.280	+0.129%	$3.1M	$1.0M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.270	+0.118%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.326	+0.176%	$736K	$3.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.351	+0.202%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.336	+0.186%	$155.0M	$114.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.391	+0.243%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0086%	1h	97.450	+0.304%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.360	+0.211%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.500	+0.355%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.344	+0.194%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0120%	1h	97.400	+0.252%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.275	+0.124%	$116K	—	111x	as long as short