Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.030%

Price spread now: GMX against Paradex−0.026%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.026% cheaper against Paradex than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BZ-USD-PERP	97.120	0.0050	pay 0.0050% / 8h	5h 05m	$3K	$336	5x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.095	L +0.0186% / S +0.0024%	pay 0.0003% / 1h	5m 03s	$126K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Paradex. 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 ParadexbpFee GMXbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$15.39
Price spread: −0.026% → 0.000%: −$2.62
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$34.01
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Paradex and 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	96.141	−1.008%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.134%	$234K	$433K	15x	as long as short
BloFin BZ-USDT	−0.0040%	4h	97.080	−0.042%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.092	−0.029%	$337K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.120	0.000%	$146.9M	$372.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.090	−0.031%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.110	−0.011%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.112	−0.009%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.120	0.000%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.050	−0.073%	$9.2M	$12.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.110	−0.011%	$27.5M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.086	−0.035%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.972	−0.153%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.120	0.000%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.110	−0.011%	$104K	$247K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.980	−0.145%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.110	−0.011%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.042	−0.081%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.643	+0.538%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.110	−0.011%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.128	+0.007%	$675K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0039%	1h	101.15	+4.149%	—	$735K	10x	as long as short
Paradex BZ-USD-PERPlong	+0.0050%	8h	97.120	long leg	$3K	$336	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.122	+0.002%	$152.2M	$125.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.156	+0.037%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.070	−0.052%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.130	+0.010%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.020	−0.103%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0120%	1h	97.038	−0.084%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0186% / S +0.0024%	1h	97.095	−0.026%	$126K	—	111x
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.127	+0.007%	$84K	$218K	20x	as long as short