Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.024%

Price spread now: edgeX against Kraken Futures−0.058%76s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.616% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.966%+$97 on $10k

Price spread, last 4 days (all we have)+0.453%+$45 · spread now −0.058%, 7d avg −0.034%

Together, before fees+1.419%+ Points / potential airdropedgeX: Active · farm board+$142 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and edgeX is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.034%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.966%, so the current rate has only just turned against you. The two prices were read 76 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	Kraken Futures PF_BRENTOILUSD	96.920	0.0298	pay 0.0037% / 1h	29m 45s	$83K	$218K	20x
Short	edgeX BZUSDC	96.864	0.0001	get 0.0000% / 4h	1h 29m	$222K	$228K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$62.53
Price spread: −0.058% → −0.034%: −$2.45
Slippage, 4 orders: −$42.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$126.59
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; edgeX: live order book, 32 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, 33 min ago	3.20 bp	16.7 bp −$17	24.3 bp −$243	doesn't fit	doesn't fit
Sell edgeX live order book, 32 min ago	9.81 bp	14.5 bp −$14	16.4 bp −$164	66.8 bp −$6,677	doesn't fit

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 PERP	−0.0220%	1h	96.164	−0.780%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.021%	$233K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.905	−0.016%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.906	−0.015%	$146.7M	$374.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.880	−0.041%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.890	−0.031%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.916	−0.004%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	−0.062%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	−0.021%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.885	−0.036%	$9.3M	$7.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.909	−0.012%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.950	+0.031%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	−0.010%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.052%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.920	0.000%	$1.2M	$85K	100x	as long as short
edgeX BZUSDCshort	+0.0001%	4h	96.864	−0.058%	$222K	$228K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.463	+0.561%	—	—	—	as long as short
BloFin BZ-USDT	+0.0025%	4h	96.900	−0.021%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.910	−0.010%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.921	+0.001%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.99	+4.199%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.927	+0.007%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.929	+0.009%	$151.9M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.987	+0.069%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.890	−0.031%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.920	0.000%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.970	+0.052%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.870	−0.052%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0169%	1h	96.899	−0.022%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0045%	1h	96.915	−0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0298%	1h	96.920	long leg	$83K	$218K	20x