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: GRVT against Injective+0.352%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GRVT is 0.352% dearer against Injective than usual: you sell high and buy low: +$35 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	39m 53s	$8K	$7K	30x
Short	GRVT BZ_USDT_Perp	97.497	0	get 0.0000% / 4h	39m 53s	$18K	$330K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.352%Rate

Funding earned: $46.2
Price spread: +0.352% → 0.000%: $35.24
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $72.42
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 63 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 GRVT live order book, 63 min ago	0.51 bp	5.9 bp −$6	10.5 bp −$105	doesn't fit	doesn't fit

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	97.384	+0.236%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.363	+0.214%	$149.4M	$353.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.330	+0.180%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.350	+0.201%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.284	+0.133%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.300	+0.149%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	+0.211%	$27.8M	$18.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.336	+0.186%	$9.5M	$6.6M	—	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_Perpshort	0.0000%	4h	97.497	+0.352%	$18K	$330K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.330	+0.180%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.340	+0.190%	$100K	$254K	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	97.510	+0.365%	$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	101.41	+4.380%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.877	+0.743%	—	—	—	as long as short
edgeX BZUSDC	+0.0016%	4h	97.501	+0.356%	$225K	$227K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.330	+0.180%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0026%	1h	97.200	+0.046%	$3.1M	$1.0M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.330	+0.180%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.352	+0.203%	$738K	$3.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.295	+0.144%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.370	+0.221%	$155.1M	$115.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.370	+0.221%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0087%	1h	97.424	+0.277%	$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	97.342	+0.192%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.325	+0.175%	$115K	—	111x	as long as short