Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h −0.015%

Price spread now: SunX against tradeXYZ−0.014%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$680.681% of the position

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.014%, 7d avg −0.056%

Together, before fees−0.210%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.042% dearer against tradeXYZ than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.056%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	94.203	0.0039	pay 0.0005% / 1h	44m 11s	$132.3M	$187.0M	20x
Short	SunX BRENTOIL-USDT	94.190	0	get 0.0000% / 4h	1h 44m	$4K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$8.09
Price spread: −0.014% → −0.056%: $4.21
Slippage, 4 orders: −$42.09
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.97
Costs to cover: 0.681%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; SunX: live order book, 5 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, 9 min ago	0.69 bp	9.9 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	18.63 bp	25.9 bp −$26	34.6 bp −$346	doesn't fit	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	94.170	−0.035%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0493%	1h	94.130	−0.077%	$34K	$383K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0342%	1h	94.186	−0.018%	$100K	$270K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.178	−0.026%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.672%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0091%	8h	94.190	−0.014%	$10.7M	$16.9M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	93.840	−0.385%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0078%	4h	93.835	−0.391%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0036%	4h	94.180	−0.024%	$145.3M	$472.1M	100x	as long as short
edgeX BZUSDC	−0.0017%	4h	93.841	−0.384%	$216K	$232K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.160	−0.046%	$323K	$812K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.190	−0.014%	$15.8M	$28.4M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.140	−0.067%	$8.8M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.190	−0.014%	$27.5M	$30.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.961	−0.257%	$9.0M	$6.7M	—	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	94.190	−0.014%	$4K	$1.7M	20x
HTX BRENTOIL-USDT	0.0000%	4h	94.180	−0.024%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.310	+0.114%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	94.200	−0.003%	$1.5M	$114K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.666	+0.492%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.900	+3.925%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0025%	1h	94.072	−0.139%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	94.205	+0.003%	$1K	$2K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.140	−0.067%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.182	−0.022%	$763K	$3.8M	10x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0039%	1h	94.203	long leg	$132.3M	$187.0M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.226	+0.024%	$1.5M	$487K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.150	−0.056%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.200	−0.003%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.860	−0.364%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	−0.083%	$32K	—	111x	as long as short