Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.024%

Price spread now: Coinbase International against SunX+0.380%7-day average −0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$610.611% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 4 days (all we have)−0.401%−$40 · spread now +0.380%, 7d avg −0.128%

Together, before fees−0.608%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.508% dearer against SunX than usual: you sell high and buy low (spread +0.380% now, against its 7-day average of −0.128%): +$51 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.330	0	get 0.0000% / 4h	39m 50s	$4K	$2.4M	20x
Short	Coinbase International BRENTOIL-PERP-INTX	97.700	−0.0056	pay 0.0007% / 1h	39m 50s	$237K	$412K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.380%Rate

Funding earned: −$11.76
Price spread: +0.380% → −0.128%: $50.77
Slippage, 4 orders: −$43.15
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$22.14
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Coinbase International: live order book, 63 min ago.

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 SunX live order book, 7 min ago	18.48 bp	22.5 bp −$22	30.5 bp −$305	doesn't fit	doesn't fit
Sell Coinbase International live order book, 63 min ago	1.02 bp	6.0 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit

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	97.155	−0.180%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0056%	1h	97.700	+0.380%	$237K	$412K	15x
Aster BZUSDT	0.0000%	4h	97.381	+0.053%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.350	+0.021%	$149.4M	$353.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.320	−0.010%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.350	+0.021%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.284	−0.047%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.300	−0.031%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	+0.031%	$27.8M	$18.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.336	+0.006%	$9.5M	$6.6M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.497	+0.172%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.330	long leg	$4K	$2.4M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.340	+0.010%	$100K	$254K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.340	+0.010%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.185%	$1.2M	$87K	100x	as long as short
BloFin BZ-USDT	+0.0001%	4h	97.260	−0.072%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.41	+4.192%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.877	+0.562%	—	—	—	as long as short
edgeX BZUSDC	+0.0016%	4h	97.501	+0.176%	$225K	$227K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.330	0.000%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0026%	1h	97.200	−0.134%	$3.1M	$1.0M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.340	+0.010%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.352	+0.023%	$738K	$3.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.295	−0.036%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.371	+0.042%	$155.1M	$114.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.370	+0.041%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0087%	1h	97.424	+0.096%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.370	+0.041%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.500	+0.175%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.342	+0.012%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.325	−0.005%	$115K	—	111x	as long as short