Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%

Price spread now: Deribit against SunX0.000%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.610% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.321%−$32 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now 0.000%, 7d avg −0.007%

Together, before fees−0.321%−$32 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.210	0	get 0.0000% / 4h	3h 52m	$4K	$2.5M	20x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.210	0	get 0.0000% / 1h	52m 43s	$104K	$239K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.007%: $0.73
Slippage, 4 orders: −$46.03
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$60.31
Costs to cover: 0.610%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Deribit: live order book, 1 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, 4 min ago	18.52 bp	22.5 bp −$23	30.5 bp −$305	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	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	96.333	−0.902%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.050	−0.165%	$233K	$438K	15x	as long as short
BloFin BZ-USDT	−0.0003%	4h	97.180	−0.031%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.225	+0.016%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.211	+0.001%	$147.2M	$368.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.200	−0.010%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.210	0.000%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.207	−0.003%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.220	+0.010%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.160	−0.051%	$9.2M	$12.1M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.200	−0.010%	$27.8M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.168	−0.043%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.187	−0.024%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.210	long leg	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	97.210	0.000%	$104K	$239K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.072%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.200	−0.010%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.168	−0.043%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.740	+0.545%	—	—	—	as long as short
Vest BZ-PERP	+0.0031%	1h	101.21	+4.115%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.220	+0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.228	+0.019%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.211	+0.001%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.245	+0.036%	$153.4M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.224	+0.014%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.130	−0.082%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.204	−0.006%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.250	+0.041%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.170	−0.041%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0116%	1h	97.153	−0.058%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0227% / S −0.0251%	1h	97.185	−0.026%	$126K	—	111x	as long as short