BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0013%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h −0.009%

Price spread now: tradeXYZ against Kraken Futures+0.033%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Kraken Futures Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+1.021%+$102 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now +0.033%, 7d avg +0.066%

Together, before fees+1.179%+ Points / potential airdroptradeXYZ: Active · farm board+$118 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and tradeXYZ is 0.033% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.066%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.021%, 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	97.476	0.0063	pay 0.0008% / 1h	5m 36s	$82K	$208K	20x
Short	tradeXYZ xyz:BRENTOIL	97.508	0.0050	get 0.0006% / 1h	5m 36s	$153.8M	$125.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$2.78
Price spread: +0.033% → +0.066%: −$3.34
Slippage, 4 orders: −$24.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$59.09
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 47 min ago; tradeXYZ: live order book, 3 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, 47 min ago	4.42 bp	15.4 bp −$15	26.2 bp −$262	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.36 bp	9.7 bp −$10	10.5 bp −$105	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	96.536	−0.964%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.460	−0.016%	$237K	$443K	15x	as long as short
BloFin BZ-USDT	−0.0021%	4h	97.500	+0.025%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.482	+0.006%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.500	+0.025%	$147.4M	$366.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.490	+0.014%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.500	+0.025%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.471	−0.005%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.016%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.490	+0.014%	$28.0M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.468	−0.008%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.481	+0.005%	$26K	$314K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.510	+0.035%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.480	+0.004%	$102K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.460	−0.016%	$280K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.520	+0.045%	$1.2M	$82K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.467	−0.009%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.032	+0.571%	—	—	—	as long as short
Vest BZ-PERP	+0.0024%	1h	101.53	+4.159%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.500	+0.025%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.500	+0.024%	$680K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.494	+0.018%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.508	+0.033%	$153.8M	$125.6M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.517	+0.042%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.450	−0.027%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0063%	1h	97.476	long leg	$82K	$208K	20x
Aftermath Perps BRENTUSD	+0.0079%	1h	97.455	−0.022%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.570	+0.097%	$3.8M	$849K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.490	+0.014%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.500	+0.025%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0275% / S −0.1776%	1h	97.485	+0.009%	$115K	—	111x	as long as short