Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.076%

Price spread now: HTX against Injective+0.841%65s7-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 HTX

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 HTX is 0.841% dearer against Injective than usual: you sell high and buy low: +$84 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BRENT/USDC PERP	95.348	−0.0220	get 0.0028% / 1h	19m 45s	$8K	$7K	30x
Short	HTX BRENTOIL-USDT	96.150	0	get 0.0000% / 4h	19m 45s	$306K	$249K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.841%Rate

Funding earned: $46.2
Price spread: +0.841% → 0.000%: $84.11
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $118.29
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; HTX: live order book, 57 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 HTX live order book, 57 min ago	2.61 bp	8.6 bp −$9	9.7 bp −$97	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 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]	L −0.0848% / S +0.0467%	1h	96.205	+0.899%	$120K	—	111x	as long as short
Injective BRENT/USDC PERPlong	−0.0220%	1h	95.348	long leg	$8K	$7K	30x
Deribit BRENTOIL_USDC-PERPETUAL	−0.0166%	1h	96.220	+0.915%	$103K	$275K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0088%	1h	96.250	+0.946%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	+0.757%	$232K	$565K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.195	+0.888%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.208	+0.902%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.203	+0.897%	$145.8M	$454.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	+0.915%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.190	+0.883%	$15.8M	$26.5M	50x	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	96.170	+0.862%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.180	+0.873%	$27.6M	$20.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.172	+0.864%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	+0.915%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	+0.915%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	96.150	+0.841%	$306K	$249K	75x
Phemex XBRUSDT	0.0000%	4h	96.360	+1.061%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.203	+0.896%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	96.182	+0.875%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0029%	4h	96.150	+0.841%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.780	+4.648%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.244	+0.940%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.257	+0.953%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	96.270	+0.967%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	+0.810%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.170	+0.862%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.255	+0.952%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0304%	1h	96.220	+0.915%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0395%	1h	96.160	+0.852%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0592%	1h	96.115	+0.805%	$670K	$5.2M	10x	as long as short