Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h +0.031%

Price spread now: Binance against Kraken Futures−0.036%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs+$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.058%+$106 on $10k

Price spread, last 2 days (all we have)−0.064%−$6 · spread now −0.036%, 7d avg −0.054%

Together, before fees+0.994%+$99 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.054%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +1.058%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	96.035	0.0158	pay 0.0020% / 1h	1m 02s	$81K	$258K	20x
Short	Binance BZUSDT	96.000	0	get 0.0000% / 4h	2h 01m	$145.7M	$491.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.036%Rate

Funding earned: −$33.2
Price spread: −0.036% → −0.054%: $1.84
Slippage, 4 orders: −$27.89
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$79.25
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 22 min ago; Binance: live order book, 13 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 Kraken Futures live order book, 22 min ago	6.41 bp	16.9 bp −$17	27.1 bp −$271	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.52 bp	6.3 bp −$6	9.3 bp −$93	23.7 bp −$2,371	79.9 bp −$39.9K

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 −0.0783% / S +0.0478%	1h	95.995	−0.041%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.923	−0.116%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.016%	$232K	$859K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.010	−0.026%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0028%	4h	95.980	−0.057%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.992	−0.044%	$335K	$1.5M	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	96.000	−0.036%	$145.7M	$491.0M	100x
Bybit BZUSDT	0.0000%	8h	96.010	−0.026%	$10.2M	$17.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.000	−0.036%	$15.8M	$29.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.990	−0.046%	$2.2M	$1.3M	20x	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	95.950	−0.088%	$9.2M	$19.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.980	−0.057%	$27.5M	$23.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.971	−0.066%	$9.2M	$10.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.929	−0.110%	$34K	$396K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.010	−0.026%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	−0.005%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.078%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.990	−0.046%	$1.2M	$101K	100x	as long as short
Paradex BZ-USD-PERP	0.0000%	8h	95.994	−0.043%	$3K	$521	5x	as long as short
edgeX BZUSDC	+0.0017%	4h	95.990	−0.047%	$220K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.020	−0.015%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.998	−0.038%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.181%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.019	−0.016%	$148.0M	$148.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.059	+0.025%	$1.5M	$539K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.950	−0.088%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.900	−0.140%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.010	−0.026%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0158%	1h	96.035	long leg	$81K	$258K	20x
Aftermath Perps BRENTUSD	+0.0190%	1h	95.966	−0.072%	$6K	$45K	5x	as long as short