Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0057%/8h= +6.3% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against KuCoin+0.023%52s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.538% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.072%−$107 on $10k

Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.023%, 7d avg −0.009%

Together, before fees−1.237%−$124 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.032% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.009%. Mind the row above: over the last 7 days funding on this pair cost −1.072%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.790	0.0100	pay 0.0050% / 4h	1h 26m	$3.8M	$808K	50x
Short	Kraken Futures PF_BRENTOILUSD	97.813	0.0157	get 0.0020% / 1h	26m 22s	$82K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.023%Rate

Funding earned: $12.07
Price spread: +0.023% → −0.009%: $3.2
Slippage, 4 orders: −$31.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$38.58
Costs to cover: 0.538%
Break-even: 29.4 days

Slippage from KuCoin: live order book, 1 min ago; Kraken Futures: live order book, 16 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, 1 min ago	0.51 bp	10.5 bp −$10	35.4 bp −$354	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 16 min ago	4.66 bp	14.5 bp −$14	29.4 bp −$294	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	97.018	−0.789%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	+0.020%	$236K	$417K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.780	−0.010%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.770	−0.020%	$147.9M	$349.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.760	−0.031%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.780	−0.010%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.748	−0.043%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.810	+0.020%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.740	−0.051%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.770	−0.020%	$27.9M	$17.4M	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	97.768	−0.023%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.782	−0.008%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.840	+0.051%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.820	+0.031%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.690	−0.102%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	98.010	+0.225%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.739	−0.052%	$225K	$227K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.91	+4.213%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.315	+0.536%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.780	−0.010%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.777	−0.013%	$682K	$3.3M	10x	as long as short
BloFin BZ-USDT	+0.0050%	4h	97.710	−0.082%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.786	−0.004%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.791	+0.001%	$155.2M	$116.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.817	+0.028%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.740	−0.051%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0084%	1h	97.814	+0.025%	$7K	$41K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.790	long leg	$3.8M	$808K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.730	−0.061%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0157%	1h	97.813	+0.023%	$82K	$206K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.825	+0.036%	$116K	—	111x	as long as short