Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0335%/8h= +36.6% APRpaid last 24h −0.003%

Price spread now: SunX against Kraken Futures+0.021%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$940.936% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.812%+$81 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.021%, 7d avg +0.004%

Together, before fees+0.892%+$89 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	94.970	−0.0335	get 0.0042% / 1h	45m 51s	$108K	$278K	20x
Short	SunX BRENTOIL-USDT	94.990	0	get 0.0000% / 4h	45m 51s	$4K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $70.26
Price spread: +0.021% → +0.004%: $1.62
Slippage, 4 orders: −$75.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$21.68
Costs to cover: 0.936%
Break-even: 9.2 days

Slippage from Kraken Futures: live order book, 60 min ago; SunX: live order book, 4 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	6.59 bp	20.1 bp −$20	33.2 bp −$332	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	18.94 bp	26.9 bp −$27	35.2 bp −$352	doesn't fit	doesn't fit

BZ on 31 exchanges

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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0487%	1h	94.960	−0.011%	$29K	$383K	15x	as long as short
RISEx BZ/USDC	−0.0384%	1h	94.935	−0.038%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSDlong	−0.0335%	1h	94.970	long leg	$108K	$278K	20x
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.960	−0.011%	$251K	$1.3M	15x	as long as short
Bybit BZUSDT	−0.0069%	8h	94.960	−0.011%	$10.4M	$18.3M	100x	as long as short
edgeX BZUSDC	−0.0022%	4h	94.780	−0.200%	$218K	$231K	20x	as long as short
Binance BZUSDT	−0.0021%	4h	94.974	+0.004%	$146.4M	$480.7M	100x	as long as short
GRVT BZ_USDT_Perp	−0.0004%	4h	94.755	−0.227%	$16K	$297K	25x	as long as short
Aster BZUSDT	0.0000%	4h	94.968	−0.003%	$328K	$684K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.990	+0.021%	$15.8M	$30.3M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	94.950	−0.022%	$8.9M	$13.5M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.990	+0.021%	$27.5M	$31.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.410	−0.590%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	94.990	+0.021%	$4K	$1.6M	20x
HTX BRENTOIL-USDT	0.0000%	4h	94.930	−0.043%	$243K	$313K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.030	+0.063%	$1.2M	$101K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0008%	1h	94.646	−0.341%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.501	+0.558%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	98.600	+3.822%	—	$736K	10x	as long as short
BloFin BZ-USDT	+0.0018%	4h	94.910	−0.064%	$1.5M	$124K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.030	+0.063%	$3.5M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.024	+0.056%	$759K	$4.0M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.142%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0037%	8h	94.953	−0.019%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.017	+0.049%	$143.1M	$188.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.954	−0.017%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.940	−0.032%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.980	+0.010%	$3.3M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.960	−0.011%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0166% / S −0.0429%	1h	94.955	−0.016%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	94.480	−0.516%	$33K	—	20x	as long as short