BZ

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexBZUSDT	98.195	−0.0136	get 0.0017% / 1h	58m 30s	$465K	$450K	20x	Long Popdex
SHORT	DeribitBRENTOIL_USDC-PERPETUAL	98.150	−0.0564	pay 0.0071% / 1h	58m 30s	$218K	$2.0M	15x	Short Deribit

Price gap−0.046%

Funding gap−0.0428% /8h

Both sides work against this direction now: funding costs $13 a day on $10k and the gap is 0.021% under its 7d average. Swap the legs.

If you open now and hold

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

Funding−$93−0.0428% /8h now · paid −0.927% over the last 7D

Price−$2spread −0.046% now, avg −0.025% → −0.021% if it goes back

Costs−$190.187% of $10k · taker + slippage, in and out

Result−$114−1.14%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / ExitPopdex: thin, under $1M open interest · Deribit: thin, under $1M open interest

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−0.046%

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

2 ok · 3 to watch

OK: Fits both order books4.8 / 5.5 bp
Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
Note: Margin at max leverage$500 + $667
Popdex 20x, Deribit 15x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$12.85Long Popdex: 24 payments, +$4.08; short Deribit: 24 payments, −$16.93.
Watch: Gap narrower than usual−0.046% vs −0.025%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$218K vs $465K OI
Deribit sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPopdex No · Deribit Yes
ID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0484%/8h × 21 periods−$101.74

Price spread−0.046% → −0.025% (7d avg)−$2.12

Slippage, 4 orderslive order books−$5.32

Fee Popdex bp × 2 orders−$6.40

Fee Deribit bp × 2 orders−$7.00

Net · 7 days · $10k−$122.58

Costs to cover0.187%Break-evennever at this rate

Slippage: Popdex: live order book, 35 min ago; Deribit: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPopdex1.224.8 bp−$58.0 bp−$80doesn’t fitdoesn’t fit

SELL · SHORTDeribit0.515.5 bp−$58.3 bp−$83doesn’t fitdoesn’t fit

Closing costs about the same again.

BZ news

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

09-29 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 ↗
09-17 10:29	Deribit	Listing	🚨 More equity and commodity perpetuals are now live on Deribit Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL ↓ @DeribitOfficial on X ↗
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