Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: Gate against tradeXYZ−0.056%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 7 days−0.049%−$5 · spread now −0.056%, 7d avg −0.076%

Together, before fees−0.271%+ Points / potential airdroptradeXYZ: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.021% dearer against tradeXYZ than usual: you sell high and buy low (spread −0.056% now, against its 7-day average of −0.076%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.222% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	96.994	0.0050	pay 0.0006% / 1h	27m 39s	$152.0M	$125.4M	20x
Short	Gate BZ_USDT	96.940	0	get 0.0000% / 8h	5h 27m	$9.2M	$12.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now −0.056%Rate

Funding earned: −$10.5
Price spread: −0.056% → −0.076%: $2.06
Slippage, 4 orders: −$10.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.01
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Gate: 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 tradeXYZ live order book, 12 min ago	0.41 bp	10.0 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.52 bp	13.2 bp −$13	21.4 bp −$214	34.4 bp −$3,443	46.3 bp −$23.2K

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	96.164	−0.856%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.097%	$233K	$431K	15x	as long as short
BloFin BZ-USDT	−0.0004%	4h	96.900	−0.097%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.978	−0.016%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.980	−0.014%	$146.8M	$373.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.950	−0.045%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.970	−0.025%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.970	−0.025%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	96.940	−0.056%	$9.2M	$12.3M	100x
Bitget BZUSDT	0.0000%	4h	96.990	−0.004%	$27.4M	$16.4M	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	96.885	−0.112%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.880	−0.118%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	−0.025%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	−0.035%	$103K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	−0.076%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.980	−0.014%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	96.864	−0.134%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.513	+0.535%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.980	−0.014%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.991	−0.003%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0043%	1h	101.02	+4.151%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.981	−0.013%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	96.994	long leg	$152.0M	$125.4M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.014	+0.021%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	−0.097%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.020	+0.027%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	−0.097%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0152%	1h	96.990	−0.004%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0166%	1h	96.904	−0.093%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0043%	1h	96.975	−0.020%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.998	+0.005%	$84K	$218K	20x	as long as short