Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.052%

Price spread now: Extended against SunX−0.058%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$590.585% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.058%, 7d avg −0.001%

Together, before fees+0.285%+ Points / potential airdropExtended: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.058% cheaper against SunX than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.001%). If the spread goes back, that is −$6 on $10k: about 6.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.012% in total) that is about 32 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	95.960	0	get 0.0000% / 4h	1h 29m	$4K	$2.7M	20x
Short	Extended XBR-USD	95.904	0.0032	get 0.0004% / 1h	29m 31s	$670K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.058%Rate

Funding earned: $6.72
Price spread: −0.058% → −0.001%: −$5.76
Slippage, 4 orders: −$45.52
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$57.56
Costs to cover: 0.585%
Break-even: 67.0 days

Slippage from SunX: live order book, 8 min ago; Extended: live order book, 4 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, 8 min ago	18.76 bp	22.8 bp −$23	30.8 bp −$308	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	1.25 bp	4.5 bp −$5	22.0 bp −$220	doesn't fit	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	95.945	−0.016%	$120K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0228%	1h	95.930	−0.031%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.911%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.938	−0.023%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.094%	$232K	$661K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.939	−0.021%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.960	0.000%	$145.6M	$479.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.930	−0.031%	$10.2M	$16.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.940	−0.021%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.900	−0.063%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.910	−0.052%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	−0.049%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.925	−0.036%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	95.960	long leg	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.970	+0.010%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.860	−0.104%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.940	−0.021%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.924	−0.038%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.923	−0.038%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0006%	8h	95.951	−0.010%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	−0.021%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	95.904	−0.058%	$670K	$5.3M	10x
BloFin BZ-USDT	+0.0045%	4h	95.900	−0.063%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.34	+4.564%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.975	+0.016%	$147.5M	$146.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.998	+0.040%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.970	+0.010%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	−0.042%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	95.980	+0.021%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.994	+0.036%	$81K	$240K	20x	as long as short