Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0555%/8h= −60.7% APRpaid last 24h +0.037%

Price spread now: GRVT against Kraken Futures−0.069%7-day average +0.015% · 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−$67as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.939%+$94 on $10k

Price spread, last 3 days (all we have)+0.271%+$27 · spread now −0.069%, 7d avg +0.015%

Together, before fees+1.211%+ Points / potential airdropGRVT: Active · farm board+$121 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and GRVT is 0.084% 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 +0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.939%, 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	96.074	0.0555	pay 0.0069% / 1h	7m 09s	$81K	$235K	20x
Short	GRVT BZ_USDT_Perp	96.009	0	get 0.0000% / 4h	1h 07m	$34K	$388K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$116.5
Price spread: −0.069% → +0.015%: −$8.37
Slippage, 4 orders: −$39.76
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$183.64
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 10 min ago; GRVT: live order book, 10 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, 10 min ago	3.17 bp	17.4 bp −$17	25.4 bp −$254	doesn't fit	doesn't fit
Sell GRVT live order book, 10 min ago	0.52 bp	5.0 bp −$5	6.1 bp −$61	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	96.035	−0.041%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.859%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.023	−0.054%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.050	−0.025%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	−0.025%	$232K	$624K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.021	−0.056%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.040	−0.036%	$145.7M	$471.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.040	−0.036%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.020	−0.057%	$15.8M	$27.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.000	−0.077%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.030	−0.046%	$27.4M	$21.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.032	−0.044%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perpshort	0.0000%	4h	96.009	−0.069%	$34K	$388K	25x
SunX BRENTOIL-USDT	0.0000%	4h	96.050	−0.025%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.070	−0.005%	$103K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.990	−0.088%	$305K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.100	+0.027%	$1.2M	$96K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0013%	1h	96.061	−0.014%	$6K	$45K	5x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.028	−0.048%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0022%	8h	96.029	−0.047%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.040	−0.036%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.960	−0.119%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.840	+3.919%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0048%	4h	96.040	−0.036%	$1.5M	$95K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.050	−0.025%	$147.8M	$145.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.091	+0.017%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.000	−0.077%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.050	−0.025%	$3.7M	$996K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.050	−0.025%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0555%	1h	96.074	long leg	$81K	$235K	20x