Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0363%/8h= −39.7% APRpaid last 24h −0.042%

Price spread now: Deribit against KuCoin+0.021%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.492%−$49 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now +0.021%, 7d avg −0.008%

Together, before fees−0.766%−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.029% dearer against KuCoin than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.008%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.400	0.0100	pay 0.0050% / 4h	3h 41m	$3.8M	$797K	50x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.420	−0.0263	pay 0.0033% / 1h	41m 02s	$100K	$260K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$76.23
Price spread: +0.021% → −0.008%: $2.86
Slippage, 4 orders: −$11.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$104.28
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Deribit: live order book, 57 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, 6 min ago	0.51 bp	10.3 bp −$10	34.5 bp −$345	doesn't fit	doesn't fit
Sell Deribit live order book, 57 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	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
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0263%	1h	97.420	+0.021%	$100K	$260K	15x
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.086%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0128%	1h	97.370	−0.031%	$34K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.082%	$237K	$402K	15x	as long as short
Ondo Perps BRENT-USD.P	−0.0048%	1h	97.300	−0.103%	$3.1M	$991K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.368	−0.033%	$2.4M	$1.8M	20x	as long as short
BloFin BZ-USDT	−0.0027%	4h	97.430	+0.031%	$1.5M	$100K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.425	+0.026%	$82K	$197K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.418	+0.018%	$339K	$761K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.450	+0.051%	$149.1M	$352.8M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BZUSDT	0.0000%	8h	97.430	+0.031%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.410	+0.010%	$16.1M	$19.9M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.370	−0.031%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.420	+0.021%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.339	−0.063%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.449	+0.051%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.400	0.000%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.380	−0.021%	$280K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.500	+0.103%	$1.2M	$83K	100x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.40	+4.107%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.987	+0.603%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	97.335	−0.067%	$223K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.420	+0.021%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.448	+0.050%	$753K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.391	−0.009%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.440	+0.041%	$155.6M	$116.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.435	+0.036%	$1.6M	$345K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0072%	1h	97.398	−0.002%	$7K	$40K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.400	long leg	$3.8M	$797K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.380	−0.021%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.385	−0.015%	$116K	—	111x	as long as short