Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.003%

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

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

Long on Phemex Short on Paradex

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 · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.233% cheaper against Phemex than usual: you would sell low and buy high (spread −0.233% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 16 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	97.530	0	get 0.0000% / 4h	36m 03s	$1.2M	$87K	100x
Short	Paradex BZ-USD-PERP	97.303	0.0050	get 0.0050% / 8h	36m 03s	$2K	$1K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.233%Rate

Funding earned: $10.48
Price spread: −0.233% → 0.000%: −$23.31
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$28.83
Costs to cover: 0.160%
Break-even: 26.2 days

Slippage unknown: Phemex: live order book, 1 min ago; Paradex: 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, 1 min ago	0.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	96.605	−0.948%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0058%	1h	97.300	−0.236%	$100K	$254K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0056%	1h	97.360	−0.174%	$34K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.174%	$237K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0022%	4h	97.340	−0.195%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.326	−0.209%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.300	−0.235%	$149.3M	$353.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.270	−0.267%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.290	−0.246%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.293	−0.243%	$2.4M	$1.7M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.260	−0.277%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.300	−0.236%	$27.8M	$18.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.336	−0.199%	$9.5M	$6.6M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.360	−0.174%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.320	−0.215%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.330	−0.205%	$279K	$254K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	97.530	long leg	$1.2M	$87K	100x
Vest BZ-PERP	+0.0008%	1h	101.40	+3.968%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.346	−0.189%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.860	+0.338%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.310	−0.226%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.311	−0.225%	$738K	$3.1M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0032%	1h	97.240	−0.297%	$3.1M	$998K	15x	as long as short
Paradex BZ-USD-PERPshort	+0.0050%	8h	97.303	−0.233%	$2K	$1K	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.332	−0.203%	$155.1M	$114.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.348	−0.187%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0092%	1h	97.377	−0.157%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.320	−0.215%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.320	−0.215%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.326	−0.209%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.305	−0.231%	$115K	—	111x	as long as short