Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.018%

Price spread now: Kraken Futures against SunX−0.030%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.877%−$88 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.030%, 7d avg −0.007%

Together, before fees−0.948%−$95 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.024% cheaper against SunX than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of −0.007%). If the spread goes back, that is −$2 on $10k: about 8.5 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.877%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.670	0	get 0.0000% / 4h	2h 26m	$4K	$2.4M	20x
Short	Kraken Futures PF_BRENTOILUSD	97.640	0.0009	get 0.0001% / 1h	26m 57s	$82K	$208K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.030%Rate

Funding earned: $1.95
Price spread: −0.030% → −0.007%: −$2.38
Slippage, 4 orders: −$64.56
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$82.99
Costs to cover: 0.826%
Break-even: 304.4 days

Slippage from SunX: live order book, 10 min ago; Kraken Futures: live order book, 21 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, 10 min ago	9.24 bp	31.6 bp −$32	39.3 bp −$393	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	5.43 bp	22.3 bp −$22	38.0 bp −$380	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	96.783	−0.908%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.143%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0015%	4h	97.620	−0.051%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.609	−0.063%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.600	−0.072%	$147.8M	$362.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.590	−0.082%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.590	−0.082%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.635	−0.036%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.580	−0.092%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.630	−0.041%	$28.0M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.490	−0.184%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.601	−0.071%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.670	long leg	$4K	$2.4M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.610	−0.061%	$101K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.500	−0.174%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.600	−0.072%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.537	−0.136%	$225K	$227K	20x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0009%	1h	97.640	−0.030%	$82K	$208K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.181	+0.523%	—	—	—	as long as short
Vest BZ-PERP	+0.0017%	1h	101.70	+4.126%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.610	−0.061%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.619	−0.052%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.664	−0.006%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.642	−0.029%	$154.2M	$124.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.680	+0.010%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.640	−0.031%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0059%	1h	97.619	−0.052%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.670	0.000%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.640	−0.031%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.670	0.000%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0317% / S −0.2514%	1h	97.645	−0.026%	$116K	—	111x	as long as short