BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.046%

Price spread now: Coinbase International against Kraken Futures−0.192%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs+$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.675%+$67 on $10k

Price spread, last 3 days (all we have)+0.235%+$24 · spread now −0.192%, 7d avg −0.115%

Together, before fees+0.910%+$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Coinbase International is 0.077% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.115%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.675%, 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	96.255	0.0113	pay 0.0014% / 1h	19m 34s	$83K	$234K	20x
Short	Coinbase International BRENTOIL-PERP-INTX	96.070	−0.0040	pay 0.0005% / 1h	19m 34s	$232K	$565K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$32.14
Price spread: −0.192% → −0.115%: −$7.75
Slippage, 4 orders: −$30.94
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$90.83
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 58 min ago; Coinbase International: live order book, 59 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, 58 min ago	3.17 bp	17.4 bp −$17	25.4 bp −$254	doesn't fit	doesn't fit
Sell Coinbase International live order book, 59 min ago	1.56 bp	6.6 bp −$7	9.5 bp −$95	doesn't fit	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	96.205	−0.052%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.348	−0.943%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0166%	1h	96.220	−0.037%	$103K	$275K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0112%	1h	96.250	−0.005%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0040%	1h	96.070	−0.192%	$232K	$565K	15x
RISEx BZ/USDC	−0.0020%	1h	96.195	−0.063%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	−0.047%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.210	−0.047%	$145.8M	$454.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	−0.037%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.190	−0.068%	$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	−0.089%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.180	−0.078%	$27.6M	$20.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.172	−0.087%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	−0.037%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	−0.037%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.150	−0.109%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.360	+0.109%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.203	−0.055%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	96.182	−0.076%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0029%	4h	96.150	−0.109%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.870	+3.755%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.245	−0.011%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.262	+0.007%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	96.270	+0.015%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	−0.141%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.170	−0.089%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0113%	1h	96.255	long leg	$83K	$234K	20x
Lighter BRENTOIL	+0.0304%	1h	96.220	−0.037%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0395%	1h	96.160	−0.099%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0592%	1h	96.115	−0.146%	$670K	$5.2M	10x	as long as short