Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against tradeXYZ+0.189%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 7 days−0.158%−$16 · spread now +0.189%, 7d avg −0.020%

Together, before fees−0.281%+ Points / potential airdroptradeXYZ: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.208% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.189% now, against its 7-day average of −0.020%): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	94.821	0.0050	pay 0.0006% / 1h	4m 32s	$130.8M	$164.1M	20x
Short	OKX BZ-USDT-SWAP	95.000	0	get 0.0000% / 4h	2h 04m	$16.1M	$26.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.189%Rate

Funding earned: −$10.5
Price spread: +0.189% → −0.020%: $20.83
Slippage, 4 orders: −$5.12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.79
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; OKX: live order book, 2 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, 8 min ago	0.47 bp	9.6 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.53 bp	7.8 bp −$8	11.2 bp −$112	29.4 bp −$2,938	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.770	−0.054%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0381%	1h	94.990	+0.178%	$46K	$375K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0341%	1h	94.860	+0.041%	$93K	$249K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	94.924	+0.109%	$2.3M	$1.9M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.930	+0.115%	$291K	$720K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0058%	4h	95.080	+0.273%	$13K	$312K	25x	as long as short
Bybit BZUSDT	−0.0048%	8h	94.980	+0.168%	$10.3M	$15.3M	100x	as long as short
BloFin BZ-USDT	−0.0008%	4h	94.980	+0.168%	$1.5M	$110K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.019	+0.209%	$371K	$793K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.019	+0.209%	$147.3M	$445.7M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAPshort	0.0000%	4h	95.000	+0.189%	$16.1M	$26.6M	50x
Gate BZ_USDT	0.0000%	8h	94.870	+0.052%	$9.1M	$13.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.010	+0.199%	$28.3M	$27.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.653	−0.177%	$9.2M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.830	+0.009%	$4K	$1.8M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.980	+0.168%	$272K	$260K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.060	+0.252%	$1.2M	$81K	100x	as long as short
Ondo Perps BRENT-USD.P	+0.0004%	1h	94.930	+0.115%	$3.0M	$1.1M	15x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.185	+0.384%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	98.660	+4.049%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0018%	4h	95.059	+0.251%	$218K	$231K	20x	as long as short
Paradex BZ-USD-PERP	+0.0031%	8h	94.892	+0.075%	$1K	$2K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.890	+0.073%	$3.5M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.963	+0.149%	$669K	$3.5M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0033%	1h	95.099	+0.293%	$7K	$38K	5x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.016%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	94.821	long leg	$130.8M	$164.1M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.938	+0.123%	$1.6M	$394K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.890	+0.073%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.810	−0.012%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.055	+0.247%	$33K	—	111x	as long as short