Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.006%

Price spread now: Kraken Futures against OKX+0.036%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.849%−$85 on $10k

Price spread, last 3 days (all we have)−0.185%−$19 · spread now +0.036%, 7d avg +0.012%

Together, before fees−1.034%−$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.025% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.012%. Mind the row above: over the last 7 days funding on this pair cost −0.849%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	96.210	0	get 0.0000% / 4h	17m 11s	$15.8M	$26.5M	50x
Short	Kraken Futures PF_BRENTOILUSD	96.245	0.0113	get 0.0014% / 1h	17m 11s	$83K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.036%Rate

Funding earned: $23.75
Price spread: +0.036% → +0.012%: $2.46
Slippage, 4 orders: −$29.58
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$23.38
Costs to cover: 0.496%
Break-even: 13.9 days

Slippage from OKX: live order book, 1 min ago; Kraken Futures: live order book, 60 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, 1 min ago	0.52 bp	5.9 bp −$6	11.0 bp −$110	24.7 bp −$2,466	doesn't fit
Sell Kraken Futures live order book, 60 min ago	3.17 bp	20.3 bp −$20	34.4 bp −$344	doesn't fit	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.195	−0.016%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.755%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0104%	1h	96.250	+0.042%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.146%	$232K	$551K	15x	as long as short
BloFin BZ-USDT	−0.0037%	4h	96.190	−0.021%	$1.5M	$96K	50x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.190	−0.021%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	0.000%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.191	−0.020%	$145.8M	$453.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	+0.010%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	96.210	long leg	$15.8M	$26.5M	50x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.160	−0.052%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.210	0.000%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.172	−0.039%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.210	0.000%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	+0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.230	+0.021%	$103K	$275K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.140	−0.073%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.210	0.000%	$1.2M	$93K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	96.190	−0.021%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	96.188	−0.023%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.860	+3.794%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.248	+0.039%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.267	+0.059%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	96.270	+0.062%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	−0.094%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	0.000%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0113%	1h	96.245	+0.036%	$83K	$234K	20x
Lighter BRENTOIL	+0.0296%	1h	96.220	+0.010%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0401%	1h	96.180	−0.031%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0584%	1h	96.122	−0.092%	$675K	$5.2M	10x	as long as short