Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.004%

Price spread now: HTX against Ondo Perps−0.042%7-day average +0.009% · you buy dearer than you sell

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.042%, 7d avg +0.009%

Together, before fees−0.126%+ Points / potential airdropOndo Perps: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.051% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	96.070	0.0050	pay 0.0006% / 1h	42m 19s	$3.0M	$1.1M	15x
Short	HTX BRENTOIL-USDT	96.030	0	get 0.0000% / 4h	42m 19s	$306K	$249K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Ondo Perps. 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 Ondo PerpsbpFee HTXbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$10.58
Price spread: −0.042% → +0.009%: −$5.07
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$32.66
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 35 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 35 min ago	2.61 bp	8.6 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit

Ondo Perps: 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 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	96.075	+0.005%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.369	−0.730%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0154%	1h	96.115	+0.047%	$147.8M	$143.8M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.060	−0.010%	$232K	$577K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.058	−0.013%	$2.2M	$1.3M	20x	as long as short
Binance BZUSDT	−0.0013%	4h	96.080	+0.010%	$145.8M	$468.6M	100x	as long as short
GRVT BZ_USDT_Perp	−0.0006%	4h	96.000	−0.073%	$34K	$375K	25x	as long as short
Aster BZUSDT	0.0000%	4h	96.120	+0.052%	$334K	$1.4M	50x	as long as short
Bybit BZUSDT	0.0000%	8h	96.070	0.000%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.050	−0.021%	$15.9M	$26.8M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.120	+0.052%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.030	−0.042%	$9.2M	$16.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.080	+0.010%	$27.4M	$21.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.111%	$9.3M	$7.9M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.090	+0.021%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.100	+0.031%	$103K	$278K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	96.030	−0.042%	$306K	$249K	75x
Phemex XBRUSDT	0.0000%	4h	96.080	+0.010%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0003%	4h	95.988	−0.086%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0010%	8h	96.072	+0.002%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.070	0.000%	$3.3M	$4.3M	20x	as long as short
Aftermath Perps BRENTUSD	+0.0032%	1h	96.102	+0.033%	$6K	$45K	5x	as long as short
BloFin BZ-USDT	+0.0037%	4h	96.040	−0.031%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.780	+3.862%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.130	+0.062%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	96.070	long leg	$3.0M	$1.1M	15x
KuCoin BZUSDTM	+0.0100%	4h	96.070	0.000%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.130	+0.062%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.111	+0.043%	$81K	$235K	20x	as long as short
Extended XBR-USD	+0.0128%	1h	96.010	−0.062%	$671K	$5.2M	10x	as long as short