Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against SunX−0.503%61s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.503% cheaper against SunX than usual: you would sell low and buy high (−$50 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	95.880	0	get 0.0000% / 4h	2h 20m	$4K	$2.7M	20x
Short	Injective BRENT/USDC PERP	95.398	−0.0220	pay 0.0028% / 1h	20m 14s	$10K	$4K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.503%Rate

Funding earned: −$46.2
Price spread: −0.503% → 0.000%: −$50.27
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$104.49
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Injective: no order-book sample. Net counts fees only.

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	18.76 bp	22.8 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0693% / S +0.0463%	1h	95.855	−0.026%	$114K	—	29x	as long as short
Injective BRENT/USDC PERPshort	−0.0220%	1h	95.398	−0.503%	$10K	$4K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.177%	$232K	$859K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.979	+0.104%	$335K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.893	+0.014%	$145.6M	$488.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.870	−0.010%	$10.2M	$17.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.840	−0.042%	$15.8M	$30.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.919	+0.041%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	95.840	−0.042%	$9.1M	$19.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.860	−0.021%	$27.5M	$24.1M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	95.940	+0.062%	$9.5M	$10.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.951	+0.074%	$34K	$406K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	95.880	long leg	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.900	+0.021%	$102K	$281K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.900	+0.021%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.850	−0.031%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0015%	4h	95.947	+0.070%	$220K	$233K	20x	as long as short
BloFin BZ-USDT	+0.0027%	4h	95.930	+0.052%	$1.5M	$97K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.870	−0.010%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.871	−0.009%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.349%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	95.947	+0.070%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.984	+0.108%	$147.6M	$146.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.988	+0.113%	$1.5M	$542K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.930	+0.052%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.870	−0.010%	$3.8M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.040	+0.167%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	95.896	+0.017%	$81K	$263K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0179%	1h	95.971	+0.095%	$6K	$45K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0472%	1h	96.010	+0.136%	$33K	—	20x	as long as short