Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.024%

Price spread now: Coinbase International against OKX+0.206%7-day average −0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs+$4as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 4 days (all we have)−0.469%−$47 · spread now +0.206%, 7d avg −0.106%

Together, before fees−0.683%−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.312% dearer against OKX than usual: you sell high and buy low (spread +0.206% now, against its 7-day average of −0.106%): +$31 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	97.280	0	get 0.0000% / 4h	3h 35m	$16.2M	$19.8M	50x
Short	Coinbase International BRENTOIL-PERP-INTX	97.480	−0.0056	pay 0.0007% / 1h	35m 47s	$237K	$402K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.206%Rate

Funding earned: −$11.76
Price spread: +0.206% → −0.106%: $31.2
Slippage, 4 orders: −$6.98
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$7.55
Costs to cover: 0.270%
Break-even: from the start

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 62 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 OKX live order book, 3 min ago	0.51 bp	6.1 bp −$6	9.7 bp −$97	25.2 bp −$2,516	doesn't fit
Sell Coinbase International live order book, 62 min ago	2.06 bp	7.1 bp −$7	9.2 bp −$92	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-PERPETUAL	−0.0366%	1h	97.340	+0.062%	$100K	$262K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.964%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0074%	1h	97.320	+0.041%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0056%	1h	97.480	+0.206%	$237K	$402K	15x
RISEx BZ/USDC	−0.0039%	1h	97.350	+0.072%	$2.4M	$1.8M	20x	as long as short
BloFin BZ-USDT	−0.0033%	4h	97.350	+0.072%	$1.5M	$100K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.371	+0.093%	$82K	$197K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.349	+0.071%	$338K	$761K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.290	+0.010%	$148.7M	$354.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.290	+0.010%	$10.3M	$13.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAPlong	0.0000%	4h	97.280	long leg	$16.2M	$19.8M	50x
Gate BZ_USDT	0.0000%	8h	97.240	−0.041%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.310	+0.031%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.329	+0.050%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.354	+0.076%	$13K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.400	+0.123%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.360	+0.082%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.380	+0.103%	$1.2M	$83K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.420	+0.144%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.33	+4.163%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.914	+0.652%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.354	+0.076%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.340	+0.062%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.319	+0.040%	$753K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	97.411	+0.135%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.350	+0.072%	$155.5M	$115.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.410	+0.134%	$1.6M	$345K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0072%	1h	97.429	+0.153%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.370	+0.093%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.410	+0.134%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.335	+0.057%	$116K	—	111x	as long as short