Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0339%/8h= +37.1% APRpaid last 24h −0.008%

Price spread now: Gate against Kraken Futures+0.027%51s7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as 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−$570.570% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.779%+$78 on $10k

Price spread, last 4 days (all we have)+0.287%+$29 · spread now +0.027%, 7d avg −0.062%

Together, before fees+1.067%+$107 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Gate is 0.088% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.062%. The two prices were read 51 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	95.335	−0.0339	get 0.0042% / 1h	58m 25s	$81K	$203K	20x
Short	Gate BZ_USDT	95.360	0	get 0.0000% / 8h	6h 58m	$9.2M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.027%Rate

Funding earned: $71.19
Price spread: +0.027% → −0.062%: $8.84
Slippage, 4 orders: −$32.04
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $22.99
Costs to cover: 0.570%
Break-even: 4.7 days

Slippage from Kraken Futures: live order book, 34 min ago; Gate: 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, 34 min ago	5.45 bp	16.3 bp −$16	30.5 bp −$305	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.53 bp	13.3 bp −$13	23.9 bp −$239	30.2 bp −$3,020	42.8 bp −$21.4K

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
Kraken Futures PF_BRENTOILUSDlong	−0.0339%	1h	95.335	long leg	$81K	$203K	20x
RISEx BZ/USDC	−0.0289%	1h	95.447	+0.118%	$2.3M	$1.8M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0274%	1h	95.360	+0.027%	$98K	$268K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0132%	4h	95.210	−0.131%	$14K	$328K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.320	−0.015%	$276K	$590K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	95.160	−0.183%	$33K	—	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0045%	1h	95.370	+0.037%	$3.0M	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0043%	8h	95.410	+0.079%	$10.1M	$14.6M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.480	+0.152%	$329K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.420	+0.090%	$146.4M	$392.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.420	+0.090%	$15.9M	$23.0M	50x	as long as short
Gate BZ_USDTshort	0.0000%	8h	95.360	+0.027%	$9.2M	$10.9M	100x
Bitget BZUSDT	0.0000%	4h	95.420	+0.090%	$28.1M	$22.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.237	−0.102%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.160	−0.183%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.060	−0.288%	$272K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.550	+0.226%	$1.2M	$80K	100x	as long as short
Vest BZ-PERP	+0.0011%	1h	99.060	+3.908%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.335%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	95.073	−0.274%	$218K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	95.466	+0.138%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.490	+0.163%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.471	+0.143%	$751K	$2.7M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+1.057%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	+0.0048%	4h	95.070	−0.278%	$1.5M	$102K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.451	+0.122%	$152.9M	$127.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.414	+0.083%	$1.6M	$386K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0053%	1h	95.389	+0.057%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.470	+0.142%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.320	−0.015%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.245	−0.094%	$33K	—	111x	as long as short