Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: Aster against Phemex−0.099%7-day average −0.233% · you buy dearer than you sell

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

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.452%−$45 on $10k

Price spread, last 3 days (all we have)−0.188%−$19 · spread now −0.099%, 7d avg −0.233%

Together, before fees−0.640%+ Points / potential airdropAster: Stage 5 · farm board−$64 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.134% dearer against Phemex than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.233%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	96.260	0	get 0.0000% / 4h	3h 56m	$1.2M	$95K	100x
Short	Aster BZUSDT	96.165	0	get 0.0000% / 4h	3h 56m	$334K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.233%: $13.43
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$6.57
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 1 min ago; Aster: live order book, 1 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 Phemex live order book, 1 min ago	13.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	5.20 bp	9.2 bp −$9	14.2 bp −$142	86.7 bp −$8,675	doesn't fit

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.155	−0.109%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.779%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.197%	$232K	$483K	15x	as long as short
Gate BZ_USDT	−0.0095%	8h	96.080	−0.187%	$9.2M	$14.2M	100x	as long as short
Aster BZUSDTshort	0.0000%	4h	96.165	−0.099%	$334K	$1.2M	50x
Binance BZUSDT	0.0000%	4h	96.120	−0.145%	$145.7M	$440.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.130	−0.135%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.100	−0.166%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.150	−0.114%	$2.2M	$1.3M	20x	as long as short
Bitget BZUSDT	0.0000%	4h	96.130	−0.135%	$27.6M	$20.1M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.202	−0.060%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	−0.042%	$34K	$365K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.170	−0.093%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.150	−0.114%	$103K	$272K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.230	−0.031%	$306K	$249K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	96.260	long leg	$1.2M	$95K	100x
edgeX BZUSDC	+0.0008%	4h	96.249	−0.012%	$220K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.688	+0.445%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.149	−0.116%	$83K	$233K	20x	as long as short
BloFin BZ-USDT	+0.0027%	4h	96.140	−0.125%	$1.5M	$95K	50x	as long as short
Paradex BZ-USD-PERP	+0.0036%	8h	96.165	−0.098%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.26	+4.155%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.173	−0.090%	$150.9M	$144.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.207	−0.055%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.240	−0.021%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0072%	1h	96.150	−0.114%	$3.4M	$4.2M	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.100	−0.166%	$3.7M	$990K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.230	−0.031%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	96.190	−0.073%	$33K	—	20x	as long as short
Extended XBR-USD	+0.0168%	1h	96.140	−0.125%	$762K	$5.3M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0655%	1h	96.107	−0.159%	$6K	$44K	5x	as long as short