Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h −0.049%

Price spread now: Hotstuff against Paradex−0.475%114s7-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 Hotstuff

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—+ Points / potential airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.475% cheaper against Paradex than usual: you would sell low and buy high (spread −0.475% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$48 on $10k: about 11 days of funding at the current rate (+$4 a day). The two prices were read 114 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	Paradex BZ-USD-PERP	94.931	0.0038	pay 0.0038% / 8h	4h 48m	$2K	$2K	5x
Short	Hotstuff BRENTOIL-PERP	94.480	0.0184	get 0.0023% / 1h	48m 52s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.475%Rate

Funding earned: $30.62
Price spread: −0.475% → 0.000%: −$47.55
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$25.93
Costs to cover: 0.090%
Break-even: 12.9 days

Slippage unknown: Paradex: no order-book sample; Hotstuff: 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 Hotstuff no order-book sample	—	—	—	—	—

Paradex and Hotstuff: 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 exchanges

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
RISEx BZ/USDC	−0.0384%	1h	94.873	−0.062%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0335%	1h	94.935	+0.004%	$107K	$277K	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.950	+0.020%	$236K	$1.2M	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0066%	1h	95.000	+0.072%	$29K	$384K	15x	as long as short
Bybit BZUSDT	−0.0060%	8h	94.850	−0.086%	$10.5M	$18.0M	100x	as long as short
BloFin BZ-USDT	−0.0056%	4h	94.890	−0.044%	$1.5M	$124K	50x	as long as short
Binance BZUSDT	−0.0024%	4h	94.865	−0.070%	$146.1M	$477.3M	100x	as long as short
edgeX BZUSDC	−0.0015%	4h	94.416	−0.543%	$217K	$231K	20x	as long as short
GRVT BZ_USDT_Perp	−0.0006%	4h	94.439	−0.519%	$16K	$307K	25x	as long as short
Aster BZUSDT	0.0000%	4h	94.933	+0.002%	$326K	$683K	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	94.830	−0.107%	$15.8M	$30.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.820	−0.117%	$8.9M	$13.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.930	−0.001%	$27.5M	$31.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.410	−0.549%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.940	+0.009%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.000	+0.072%	$243K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.000	+0.072%	$1.2M	$101K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0010%	1h	94.420	−0.539%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.569	+0.671%	—	—	—	as long as short
Vest BZ-PERP	+0.0016%	1h	98.420	+3.675%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.980	+0.051%	$3.5M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.887	−0.047%	$761K	$4.0M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.100%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERPlong	+0.0038%	8h	94.931	long leg	$2K	$2K	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.028	+0.102%	$142.3M	$187.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.788	−0.151%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.780	−0.159%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.910	−0.023%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.410	−0.549%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0166% / S −0.0429%	1h	94.965	+0.035%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERPshort	+0.0184%	1h	94.480	−0.475%	$33K	—	20x