Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.054%

Price spread now: Coinbase International against KuCoin−0.072%7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.409%−$41 on $10k

Price spread, last 4 days (all we have)−0.221%−$22 · spread now −0.072%, 7d avg −0.127%

Together, before fees−0.630%−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.055% dearer against KuCoin than usual: you sell high and buy low (spread −0.072% now, against its 7-day average of −0.127%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	96.970	0.0100	pay 0.0050% / 4h	1h 29m	$3.8M	$872K	50x
Short	Coinbase International BRENTOIL-PERP-INTX	96.900	−0.0104	pay 0.0013% / 1h	29m 53s	$233K	$426K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$42.84
Price spread: −0.072% → −0.127%: $5.52
Slippage, 4 orders: −$13.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$73.12
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Coinbase International: live order book, 33 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 KuCoin live order book, 8 min ago	0.52 bp	7.5 bp −$8	37.4 bp −$374	doesn't fit	doesn't fit
Sell Coinbase International live order book, 33 min ago	0.52 bp	5.5 bp −$6	8.1 bp −$81	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	96.164	−0.831%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0104%	1h	96.900	−0.072%	$233K	$426K	15x
Aster BZUSDT	0.0000%	4h	96.913	−0.059%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.909	−0.063%	$146.7M	$374.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.880	−0.093%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.890	−0.082%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.916	−0.055%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.850	−0.124%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	−0.072%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.885	−0.088%	$9.3M	$7.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.909	−0.063%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.950	−0.021%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	−0.062%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.103%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.920	−0.052%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	96.864	−0.110%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.463	+0.509%	—	—	—	as long as short
BloFin BZ-USDT	+0.0025%	4h	96.900	−0.072%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.910	−0.062%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.921	−0.051%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.99	+4.146%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.927	−0.045%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.918	−0.054%	$151.9M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.987	+0.018%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.890	−0.082%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.920	−0.052%	$33K	—	20x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	96.970	long leg	$3.8M	$872K	50x
ApeX Omni BZUSDT	+0.0100%	1h	96.870	−0.103%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0169%	1h	96.899	−0.073%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0045%	1h	96.915	−0.057%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.920	−0.052%	$83K	$218K	20x	as long as short