Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.007%

Price spread now: BloFin against Kraken Futures−0.057%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs+$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$510.511% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.876%+$88 on $10k

Price spread, last 3 days (all we have)+0.112%+$11 · spread now −0.057%, 7d avg −0.017%

Together, before fees+0.988%+$99 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BloFin is 0.040% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.017%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.876%, 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	96.245	0.0113	pay 0.0014% / 1h	17m 12s	$83K	$234K	20x
Short	BloFin BZ-USDT	96.190	−0.0037	pay 0.0018% / 4h	17m 12s	$1.5M	$96K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$31.43
Price spread: −0.057% → −0.017%: −$4
Slippage, 4 orders: −$29.06
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$86.5
Costs to cover: 0.511%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 60 min ago; BloFin: live order book, 5 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, 60 min ago	3.17 bp	17.4 bp −$17	25.4 bp −$254	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.52 bp	6.5 bp −$7	7.6 bp −$76	15.3 bp −$1,530	doesn't fit

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	96.195	−0.052%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.790%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0104%	1h	96.250	+0.005%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.182%	$232K	$551K	15x	as long as short
BloFin BZ-USDTshort	−0.0037%	4h	96.190	−0.057%	$1.5M	$96K	50x
RISEx BZ/USDC	−0.0020%	1h	96.190	−0.057%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	−0.037%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.191	−0.056%	$145.8M	$453.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	−0.026%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.210	−0.036%	$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	96.160	−0.088%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.210	−0.036%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.172	−0.076%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.210	−0.036%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	−0.026%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.230	−0.015%	$103K	$275K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.140	−0.109%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.210	−0.036%	$1.2M	$93K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	96.190	−0.057%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	96.188	−0.059%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.860	+3.756%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.248	+0.003%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.267	+0.023%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	96.270	+0.026%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	−0.130%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	−0.036%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0113%	1h	96.245	long leg	$83K	$234K	20x
Lighter BRENTOIL	+0.0296%	1h	96.220	−0.026%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0401%	1h	96.180	−0.067%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0584%	1h	96.122	−0.128%	$675K	$5.2M	10x	as long as short