Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0198%/8h= −21.6% APRpaid last 24h +0.004%

Price spread now: KuCoin against Kraken Futures−0.049%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs+$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.111%+$111 on $10k

Price spread, last 4 days (all we have)+0.403%+$40 · spread now −0.049%, 7d avg +0.008%

Together, before fees+1.514%+$151 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.057% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.111%, 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	97.208	0.0298	pay 0.0037% / 1h	2m 49s	$84K	$218K	20x
Short	KuCoin BZUSDTM	97.160	0.0100	get 0.0050% / 4h	1h 02m	$3.8M	$871K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$41.5
Price spread: −0.049% → +0.008%: −$5.71
Slippage, 4 orders: −$33.69
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$102.9
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 60 min ago; KuCoin: 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	3.20 bp	16.7 bp −$17	24.3 bp −$243	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.51 bp	13.1 bp −$13	37.7 bp −$377	doesn't fit	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	96.141	−1.097%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.224%	$234K	$433K	15x	as long as short
BloFin BZ-USDT	−0.0002%	4h	97.140	−0.069%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.139	−0.070%	$337K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.170	−0.039%	$147.0M	$372.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.150	−0.059%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.160	−0.049%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.207	−0.001%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.230	+0.023%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.100	−0.111%	$9.2M	$12.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.160	−0.049%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.086	−0.125%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.075	−0.136%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.240	+0.033%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.170	−0.039%	$104K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.000	−0.213%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.160	−0.049%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.092	−0.119%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.726	+0.534%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.180	−0.028%	$3.3M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.158	−0.051%	$675K	$4.6M	10x	as long as short
Vest BZ-PERP	+0.0039%	1h	101.24	+4.148%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.180	−0.029%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.181	−0.027%	$152.3M	$125.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.254	+0.048%	$1.6M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.180	−0.028%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	97.160	−0.049%	$3.8M	$871K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.130	−0.080%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0116%	1h	97.102	−0.109%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0187% / S +0.0022%	1h	97.185	−0.023%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0298%	1h	97.208	long leg	$84K	$218K	20x