Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against Phemex+0.561%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and gTrade (Gains Network) is 0.561% dearer against Phemex than usual: you sell high and buy low: +$56 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	96.930	0	get 0.0000% / 4h	1h 28m	$1.2M	$85K	100x
Short	gTrade (Gains Network) BRENT/USD	97.473	L +0.0011% / S −0.0011%	get 0.0001% / 1h	28m 44s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.561%Rate

Funding earned: $2.34
Price spread: +0.561% → 0.000%: $56.06
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $36.4
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; gTrade (Gains Network): 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 Phemex live order book, 4 min ago	8.76 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	96.164	−0.790%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.031%	$233K	$431K	15x	as long as short
BloFin BZ-USDT	−0.0004%	4h	96.900	−0.031%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.946	+0.017%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.964	+0.035%	$146.8M	$374.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.940	+0.010%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	+0.021%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.959	+0.030%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.910	−0.021%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.960	+0.031%	$27.4M	$16.4M	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	96.885	−0.046%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.880	−0.052%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.920	−0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.930	0.000%	$103K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.062%	$278K	$269K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	96.930	long leg	$1.2M	$85K	100x
edgeX BZUSDC	+0.0001%	4h	96.864	−0.068%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USDshort	L +0.0011% / S −0.0011%	1h	97.473	+0.561%	—	—	—
Lighter BRENTOIL	+0.0032%	1h	96.970	+0.041%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.971	+0.042%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	101.00	+4.199%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.965	+0.036%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.983	+0.055%	$152.0M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.980	+0.052%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	−0.031%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.930	0.000%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.072%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	−0.031%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0166%	1h	96.911	−0.020%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0044%	1h	96.935	+0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.958	+0.029%	$84K	$218K	20x	as long as short