Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: GRVT against tradeXYZ+0.044%106s7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.386% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +0.044%, 7d avg −0.077%

Together, before fees−0.173%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.120% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.077%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.0 days. The two prices were read 106 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	tradeXYZ xyz:BRENTOIL	97.277	0.0050	pay 0.0006% / 1h	35m 40s	$153.0M	$124.8M	20x
Short	GRVT BZ_USDT_Perp	97.319	0	get 0.0000% / 4h	35m 40s	$28K	$352K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$10.5
Price spread: +0.044% → −0.077%: $12.05
Slippage, 4 orders: −$11.63
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$37.08
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; GRVT: live order book, 22 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, 4 min ago	0.05 bp	9.1 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell GRVT live order book, 22 min ago	0.51 bp	5.0 bp −$5	11.7 bp −$117	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	96.571	−0.726%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.038%	$234K	$437K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.220	−0.059%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.225	−0.053%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.240	−0.038%	$147.1M	$371.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.230	−0.048%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.240	−0.038%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.231	−0.048%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.200	−0.079%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.230	−0.048%	$27.5M	$16.3M	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	97.238	−0.040%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perpshort	0.0000%	4h	97.319	+0.044%	$28K	$352K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.003%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.270	−0.007%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.190	−0.089%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.320	+0.044%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.250	−0.028%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.809	+0.547%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.300	+0.024%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.250	−0.028%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.247	−0.031%	$680K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0034%	1h	101.28	+4.115%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.237	−0.041%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	97.277	long leg	$153.0M	$124.8M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.308	+0.032%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.180	−0.100%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.270	−0.007%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.180	−0.100%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0101%	1h	97.279	+0.002%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.262	−0.015%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0200% / S −0.0061%	1h	97.255	−0.023%	$126K	—	111x	as long as short