BZ

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Ondo PerpsBRENT-USD.P	97.700	−0.0150	get 0.0019% / 1h	41m 13s	$3.1M	$820K	15x	Long Ondo Perps5% off
SHORT	PopdexBZUSDT	97.845	−0.0168	pay 0.0021% / 1h	41m 13s	$469K	$423K	20x	Short Popdex

Price gap+0.148%

Funding gap−0.0018% /8h

The gap pays +$6 on $10k if it goes back to its 7d average, but funding costs $1 a day and eats that in about 11 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$14−0.0018% /8h now · paid +0.142% over the last 7D

Price+$6spread +0.148% now, avg +0.088% → +0.060% if it goes back

Costs−$200.204% of $10k · taker + slippage, in and out

Result$00.00%+ Points / potential airdropOndo Perps: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.148%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

BZ on 31 exchanges

lowest funding first

Before you open

5 ok · 1 to watch

OK: Fits both order books6.5 / 3.6 bp
Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
Note: Margin at max leverage$667 + $500
Ondo Perps 15x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$0.55Long Ondo Perps: 24 payments, +$4.49; short Popdex: 24 payments, −$5.04.
OK: Entry gap works for you+0.148% vs +0.088%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$469K vs $3.1M OI
Popdex sets your exit cost. Check its book before closing.
OK: Points on a legOndo Perps points
Volume here counts toward the points program.
OK: No KYC on either legOndo Perps No · Popdex No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0071%/8h × 21 periods+$14.87

Price spread+0.148% → +0.088% (7d avg)+$6.00

Slippage, 4 orderslive order books−$8.97

Fee Ondo Perps bp × 2 orders−$5.00

Fee Popdex bp × 2 orders−$6.40

Net · 7 days · $10k+$0.50

Costs to cover0.204%Break-even6.8 days

Slippage: Ondo Perps: live order book, 4 min ago; Popdex: live order book, 44 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGOndo Perps2.566.5 bp−$713.3 bp−$133doesn’t fitdoesn’t fit

SELL · SHORTPopdex0.363.6 bp−$45.0 bp−$50doesn’t fitdoesn’t fit

Closing costs about the same again.

BZ news

posts that mention BZ or Brent crude, from every exchangeSearch all news →

09-30 18:40	Hotstuff	Listing	BRENTOIL-PERP no longer reported ($BZ) seen by our collector
09-29 11:00	gTrade (Gains Network)	Listing	BRENT/USD no longer reported ($BZ) seen by our collector
09-23 02:03	SoDEX	Listing	📊 SoDEX 24h Movers · Sep 23 61 of 93 markets higher. Brent crude fell below $95 as US-Iran direct talks at the UN signaled easing tensions, weighing on oil-linked assets. Fed officials Barkin and Collins kept a hawkish tone, leaving the door open for further hikes. CME's upcoming BCH and UNI futures listing continued to drive major gains in those tokens. What moved them bitcoin-cash:native · CME Group announced it will list BCH futures on October 19, news continued to drive buying interest. UNI · CME listing UNI futures on Oct 19, plus Uniswap handles over 99% of Robinhood Chain stock token DeFi deposits. DASH · DoorDash agreed to a $131.5M settlement with NYC, resolving the courier minimum-wage investigation and removing regulatory overhang. ZHIPU · Anthropic accused Chinese AI firms of model distillation and CAC launched probes into DeepSeek and Moonshot, pressuring Chinese AI stocks. MINIMAX · Same Anthropic distillation accusations and CAC probes into Chinese AI companies weighed on the sector. 61 up · 31 down · 1 flat across 93 perp markets. 25 also trade spot. Amid Fed hawkishness and Brent's drop below $95, Layer 1 Season posted record Week-3 open interest of $155M, with 17 weeks remaining. SoDEX Layer 1 Season campaign is ongoing since September 1; Week 3 open interest hit an ATH of $155M, with 17 weeks remaining. Trade 👉 @sodex_official on X ↗
09-17 10:29	Deribit	Listing	🚨 More equity and commodity perpetuals are now live on Deribit Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL ↓ @DeribitOfficial on X ↗
09-16 15:02	Deribit	Listing	🚨 More To Trade. Tomorrow, September 17, 2026, at 10:00 AM UTC, 11 more equity perpetual markets and 4 commodity perpetuals will go live on Deribit. All settled in USDC. Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL This launch is part of Deribit’s biggest-ever product expansion: more than 90 new USDC-settled perpetuals across crypto, listed equities and ETFs, commodities, the COIN50 index and private-market valuations. Read more: Disclaimer: Equity & Commodity perpetuals are offered by Deribit FZE under its Limited Licence Approval from VARA, and are subject to the conditions, client eligibility criteria and restrictions of that approval. @DeribitOfficial on X ↗

BZ