BZ

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhemexXBRUSDT	99.750	0	0.0000% / 4h	3h 57m	$1.2M	$52K	100x	Long Phemex
SHORT	PopdexBZUSDT	99.870	+0.0048	get 0.0006% / 1h	57m 40s	$435K	$412K	20x	Short Popdex

Price gap+0.120%

Funding gap+0.0048% /8h

Both sides work: funding pays +$1 a day on $10k, and the gap is 0.132% above its 7d average: +$13 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$4+0.0048% /8h now · paid +0.044% over the last 7D

Price+$13spread +0.120% now, avg −0.012% → +0.132% if it goes back

Costs−$2342.343% of $10k · taker + slippage, in and out

Result−$217−2.17%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.120%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

BZ on 31 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size141.1 / 3.9 bp
At $10k entering Phemex costs 141.1 bp, fee and slippage, 36.6× Popdex’s.
Note: Margin at max leverage$100 + $500
Phemex 100x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ4h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: +$1.44Long Phemex: 6 payments, $0.00; short Popdex: 24 payments, +$1.44.
OK: Entry gap works for you+0.120% vs −0.012%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$435K vs $1.2M OI
Popdex sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPhemex Yes · Popdex No
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0021%/8h × 21 periods+$4.41

Price spread+0.120% → −0.012% (7d avg)+$13.20

Slippage, 4 orderslive order books−$215.89

Fee Phemex bp × 2 orders−$12.00

Fee Popdex bp × 2 orders−$6.40

Net · 7 days · $10k−$216.68

Costs to cover2.343%Break-even351.3 days

Slippage: Phemex: live order book, 3 min ago; Popdex: live order book, 16 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhemex7.03141.1 bp−$141234.1 bp−$2,341doesn’t fitdoesn’t fit

SELL · SHORTPopdex0.653.9 bp−$45.1 bp−$51doesn’t fitdoesn’t fit

Closing costs about the same again.

BZ news

posts that mention BZ or Brent crude, from every exchangeSearch all news →

09-30 18:40	Hotstuff	Listing	BRENTOIL-PERP no longer reported ($BZ) seen by our collector
09-29 11:00	gTrade (Gains Network)	Listing	BRENT/USD no longer reported ($BZ) seen by our collector
09-23 02:03	SoDEX	Listing	📊 SoDEX 24h Movers · Sep 23 61 of 93 markets higher. Brent crude fell below $95 as US-Iran direct talks at the UN signaled easing tensions, weighing on oil-linked assets. Fed officials Barkin and Collins kept a hawkish tone, leaving the door open for further hikes. CME's upcoming BCH and UNI futures listing continued to drive major gains in those tokens. What moved them bitcoin-cash:native · CME Group announced it will list BCH futures on October 19, news continued to drive buying interest. UNI · CME listing UNI futures on Oct 19, plus Uniswap handles over 99% of Robinhood Chain stock token DeFi deposits. DASH · DoorDash agreed to a $131.5M settlement with NYC, resolving the courier minimum-wage investigation and removing regulatory overhang. ZHIPU · Anthropic accused Chinese AI firms of model distillation and CAC launched probes into DeepSeek and Moonshot, pressuring Chinese AI stocks. MINIMAX · Same Anthropic distillation accusations and CAC probes into Chinese AI companies weighed on the sector. 61 up · 31 down · 1 flat across 93 perp markets. 25 also trade spot. Amid Fed hawkishness and Brent's drop below $95, Layer 1 Season posted record Week-3 open interest of $155M, with 17 weeks remaining. SoDEX Layer 1 Season campaign is ongoing since September 1; Week 3 open interest hit an ATH of $155M, with 17 weeks remaining. Trade 👉 @sodex_official on X ↗
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09-16 15:02	Deribit	Listing	🚨 More To Trade. Tomorrow, September 17, 2026, at 10:00 AM UTC, 11 more equity perpetual markets and 4 commodity perpetuals will go live on Deribit. All settled in USDC. Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL This launch is part of Deribit’s biggest-ever product expansion: more than 90 new USDC-settled perpetuals across crypto, listed equities and ETFs, commodities, the COIN50 index and private-market valuations. Read more: Disclaimer: Equity & Commodity perpetuals are offered by Deribit FZE under its Limited Licence Approval from VARA, and are subject to the conditions, client eligibility criteria and restrictions of that approval. @DeribitOfficial on X ↗

BZ