Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.095%

Price spread now: KuCoin against Injective+0.681%70s7-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 KuCoin

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 +$10 a day on $10k at the current rate, and KuCoin is 0.681% dearer against Injective than usual: you sell high and buy low: +$68 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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	96.970	−0.0220	get 0.0028% / 1h	0m 04s	$8K	$7K	30x
Short	KuCoin BZUSDTM	97.630	0.0100	get 0.0050% / 4h	1h 00m	$3.8M	$812K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.681%Rate

Funding earned: $67.2
Price spread: +0.681% → 0.000%: $68.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $123.24
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	0.51 bp	10.5 bp −$11	36.5 bp −$365	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	96.970	long leg	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.700	+0.753%	$237K	$417K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.550	+0.598%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.679	+0.732%	$340K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.679	+0.732%	$148.6M	$352.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.640	+0.691%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.670	+0.722%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.595	+0.645%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.640	+0.691%	$9.3M	$11.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.670	+0.722%	$27.8M	$17.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.538	+0.586%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.483	+0.529%	$30K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.630	+0.681%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.660	+0.712%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.580	+0.629%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.670	+0.722%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.79	+4.971%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.479	+0.525%	$225K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.231	+1.301%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.660	+0.712%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.663	+0.715%	$717K	$3.2M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0040%	1h	97.510	+0.557%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.608	+0.658%	$3K	$355	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.703	+0.756%	$155.5M	$115.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.685	+0.737%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.490	+0.536%	$3.1M	$994K	15x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	97.630	+0.681%	$3.8M	$812K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.510	+0.557%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.593	+0.642%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.685	+0.737%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.665	+0.717%	$116K	—	111x	as long as short