Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2771%/8h= +303.5% APRpaid last 24h +0.037%

Price spread now: GMX against Aster−0.012%7-day average +0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.012%, 7d avg +0.013%

Together, before fees+0.082%+ Points / potential airdropAster: Stage 5 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.025% cheaper against Aster than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about under an hour of funding at the current rate (+$83 a day). At the pace of the last 3 days (+0.051% in total) that is about 41 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.051% in total (about 5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	97.827	0	get 0.0000% / 4h	58m 16s	$340K	$880K	50x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.815	L +0.0329% / S −0.2771%	get 0.0346% / 1h	58m 16s	$116K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $582
Price spread: −0.012% → +0.013%: −$2.53
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $559.47
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Aster: live order book, 50 min ago; GMX: no order-book sample. Net counts fees only.

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 Aster live order book, 50 min ago	2.05 bp	6.0 bp −$6	6.4 bp −$64	52.6 bp −$5,257	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.970	−0.876%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	−0.0058%	4h	97.750	−0.079%	$1.5M	$96K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	−0.130%	$237K	$415K	15x	as long as short
Aster BZUSDTlong	0.0000%	4h	97.827	long leg	$340K	$880K	50x
Binance BZUSDT	0.0000%	4h	97.815	−0.013%	$148.7M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.810	−0.017%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.830	+0.003%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.779	−0.049%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.770	−0.058%	$9.3M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.810	−0.017%	$28.0M	$18.2M	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	97.538	−0.295%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.523	−0.311%	$30K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.810	−0.017%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.840	+0.013%	$101K	$253K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.580	−0.252%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.780	−0.048%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.96	+4.225%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.387	+0.572%	—	—	—	as long as short
edgeX BZUSDC	+0.0011%	4h	97.518	−0.316%	$225K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.800	−0.027%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.852	+0.026%	$722K	$3.3M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.770	−0.058%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.787	−0.041%	$3K	$355	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.833	+0.006%	$155.7M	$115.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.854	+0.028%	$1.6M	$462K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.670	−0.160%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.780	−0.048%	$3.8M	$811K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	−0.273%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.630	−0.201%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0112%	1h	97.846	+0.019%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0329% / S −0.2771%	1h	97.815	−0.012%	$116K	—	111x