Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.061%

Price spread now: Gate against Phemex−0.021%49s7-day average −0.275% · you buy dearer than you sell

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

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.735%−$74 on $10k

Price spread, last 3 days (all we have)−0.297%−$30 · spread now −0.021%, 7d avg −0.275%

Together, before fees−1.032%−$103 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: Gate is 0.255% dearer against Phemex than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.275%. The two prices were read 49 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	Phemex XBRUSDT	95.890	0	get 0.0000% / 4h	1h 27m	$1.2M	$100K	100x
Short	Gate BZ_USDT	95.870	0	get 0.0000% / 8h	1h 27m	$9.2M	$18.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.275%: $25.45
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1.55
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, just now; Gate: 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, just now	1.04 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.52 bp	14.2 bp −$14	26.5 bp −$265	34.3 bp −$3,428	46.1 bp −$23.0K

BZ on 30 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	95.915	+0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.838%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0202%	1h	95.890	0.000%	$3.0M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0080%	1h	95.950	+0.063%	$33K	—	20x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.913	+0.025%	$2.2M	$1.3M	20x	as long as short
BloFin BZ-USDT	−0.0022%	4h	95.930	+0.042%	$1.5M	$95K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.167%	$232K	$638K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.912	+0.023%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.926	+0.038%	$145.5M	$479.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.031%	$10.2M	$16.6M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.920	+0.031%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDTshort	0.0000%	8h	95.870	−0.021%	$9.2M	$18.0M	100x
Bitget BZUSDT	0.0000%	4h	95.920	+0.031%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	+0.024%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.936	+0.048%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.940	+0.052%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.960	+0.073%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.890	0.000%	$305K	$259K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	95.890	long leg	$1.2M	$100K	100x
edgeX BZUSDC	+0.0001%	4h	95.941	+0.053%	$220K	$232K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0002%	1h	95.923	+0.035%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0008%	8h	95.923	+0.034%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	+0.052%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.906	+0.017%	$670K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+4.078%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.955	+0.068%	$147.5M	$146.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.981	+0.095%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.930	+0.042%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.980	+0.094%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.966	+0.080%	$81K	$239K	20x	as long as short