Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h −0.017%

Price spread now: GMX against OKX+0.005%7-day average +0.001% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.005%, 7d avg +0.001%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	97.150	0	get 0.0000% / 4h	17m 24s	$16.1M	$20.3M	50x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.155	L +0.0207% / S −0.0115%	get 0.0014% / 1h	17m 24s	$126K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $24.11
Price spread: +0.005% → +0.001%: $0.38
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.49
Costs to cover: 0.220%
Break-even: 6.3 days

Slippage unknown: OKX: live order book, 1 min ago; GMX: no order-book sample. Net counts fees only.

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, 1 min ago	0.51 bp	6.1 bp −$6	10.3 bp −$103	26.8 bp −$2,681	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.433	−0.738%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.093%	$234K	$436K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.220	+0.072%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.192	+0.043%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.160	+0.010%	$147.2M	$369.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.150	0.000%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	97.150	long leg	$16.1M	$20.3M	50x
RISEx BZ/USDC	0.0000%	1h	97.151	+0.001%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.110	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.180	+0.031%	$27.6M	$16.4M	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	97.177	+0.028%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.176	+0.027%	$29K	$361K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.170	+0.021%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.160	+0.010%	$104K	$232K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.120	−0.031%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	+0.185%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.709	+0.576%	—	—	—	as long as short
edgeX BZUSDC	+0.0016%	4h	97.148	−0.002%	$223K	$228K	20x	as long as short
Vest BZ-PERP	+0.0032%	1h	101.19	+4.159%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.180	+0.031%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.166	+0.016%	$680K	$4.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.162	+0.012%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.198	+0.049%	$153.3M	$127.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.210	+0.062%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.110	−0.041%	$3.1M	$1.1M	15x	as long as short
BloFin BZ-USDT	+0.0054%	4h	97.170	+0.021%	$1.5M	$91K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.200	+0.051%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.180	+0.031%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0118%	1h	97.221	+0.073%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.182	+0.033%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0207% / S −0.0115%	1h	97.155	+0.005%	$126K	—	111x