Funding arb · Price arb /

BZ

RWAall BZ markets

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 −0.018%

Price spread now: Binance against Phemex+0.010%7-day average −0.170% · you sell dearer than you buy

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

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.422%−$42 on $10k

Price spread, last 2 days (all we have)−0.197%−$20 · spread now +0.010%, 7d avg −0.170%

Together, before fees−0.619%−$62 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: Binance is 0.180% dearer against Phemex than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.170%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	96.490	0	get 0.0000% / 4h	3h 35m	$1.2M	$94K	100x
Short	Binance BZUSDT	96.500	0	get 0.0000% / 4h	3h 35m	$145.8M	$430.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.170%: $18.03
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.97
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Binance: live order book, 8 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, 2 min ago	4.66 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.52 bp	5.5 bp −$6	6.2 bp −$62	12.8 bp −$1,283	37.1 bp −$18.6K

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	95.669	−0.851%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.435%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0099% / S +0.0137%	1h	96.475	−0.016%	$33K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	96.520	+0.031%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.475	−0.016%	$335K	$1.2M	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	96.500	+0.010%	$145.8M	$430.4M	100x
Bybit BZUSDT	0.0000%	8h	96.480	−0.010%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.470	−0.021%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.462	−0.029%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.450	−0.041%	$9.2M	$14.3M	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	96.490	0.000%	$27.6M	$19.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.460	−0.031%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.367	−0.127%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.490	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.500	+0.010%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.440	−0.052%	$307K	$229K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	96.490	long leg	$1.2M	$94K	100x
edgeX BZUSDC	+0.0007%	4h	96.402	−0.091%	$221K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.999	+0.527%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.498	+0.008%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0023%	1h	96.440	−0.052%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.480	−0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.493	+0.003%	$747K	$5.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0041%	8h	96.469	−0.022%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.55	+4.208%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.509	+0.020%	$151.5M	$142.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.528	+0.039%	$1.5M	$511K	20x	as long as short
BloFin BZ-USDT	+0.0053%	4h	96.500	+0.010%	$1.5M	$95K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.520	+0.031%	$3.8M	$987K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.450	−0.041%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0469%	1h	96.435	−0.057%	$7K	$44K	5x	as long as short