Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against OKX−0.830%108s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.830% cheaper against OKX than usual: you would sell low and buy high (−$83 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 108 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	OKX BZ-USDT-SWAP	96.470	0	get 0.0000% / 4h	3h 35m	$15.9M	$25.3M	50x
Short	Injective BRENT/USDC PERP	95.669	−0.0220	pay 0.0028% / 1h	35m 36s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.830%Rate

Funding earned: −$46.2
Price spread: −0.830% → 0.000%: −$83.03
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$139.25
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Injective: 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, 3 min ago	0.52 bp	6.0 bp −$6	8.8 bp −$88	22.1 bp −$2,211	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	95.669	−0.830%	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.415%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0099% / S +0.0137%	1h	96.475	+0.005%	$33K	—	111x	as long as short
Aster BZUSDT	0.0000%	4h	96.482	+0.013%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.490	+0.021%	$145.7M	$430.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.470	0.000%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	96.470	long leg	$15.9M	$25.3M	50x
RISEx BZ/USDC	0.0000%	1h	96.472	+0.002%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.450	−0.021%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.480	+0.010%	$27.6M	$19.8M	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	96.460	−0.010%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.367	−0.106%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.490	+0.021%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.500	+0.031%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.440	−0.031%	$307K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.490	+0.021%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	96.402	−0.071%	$221K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.999	+0.548%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	96.500	+0.031%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.498	+0.029%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0022%	1h	96.420	−0.052%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.470	0.000%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.482	+0.012%	$747K	$5.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0041%	8h	96.475	+0.005%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.55	+4.229%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.515	+0.047%	$151.5M	$142.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.531	+0.063%	$1.5M	$511K	20x	as long as short
BloFin BZ-USDT	+0.0053%	4h	96.500	+0.031%	$1.5M	$95K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.520	+0.052%	$3.8M	$987K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.480	+0.010%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0469%	1h	96.435	−0.036%	$7K	$44K	5x	as long as short