Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.008%

Price spread now: Hotstuff against Aster−0.125%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.125% cheaper against Aster than usual: you would sell low and buy high (spread −0.125% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	97.893	0	get 0.0000% / 4h	59m 34s	$340K	$880K	50x
Short	Hotstuff BRENTOIL-PERP	97.770	0.0048	get 0.0006% / 1h	59m 34s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.125%Rate

Funding earned: $10.08
Price spread: −0.125% → 0.000%: −$12.54
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$15.46
Costs to cover: 0.130%
Break-even: 17.7 days

Slippage unknown: Aster: live order book, 48 min ago; Hotstuff: 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, 48 min ago	2.05 bp	6.0 bp −$6	6.4 bp −$64	52.6 bp −$5,257	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	−0.943%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.700	−0.197%	$237K	$417K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.550	−0.350%	$1.5M	$96K	50x	as long as short
Aster BZUSDTlong	0.0000%	4h	97.893	long leg	$340K	$880K	50x
Binance BZUSDT	0.0000%	4h	97.904	+0.011%	$149.0M	$353.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.850	−0.044%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.860	−0.033%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.595	−0.304%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.850	−0.044%	$9.3M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.740	−0.156%	$27.9M	$17.5M	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	−0.362%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.523	−0.378%	$30K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.630	−0.268%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.660	−0.238%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.580	−0.319%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.670	−0.228%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.79	+3.981%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.231	+0.346%	—	—	—	as long as short
edgeX BZUSDC	+0.0011%	4h	97.518	−0.383%	$225K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.730	−0.166%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.906	+0.013%	$727K	$3.2M	10x	as long as short
Hotstuff BRENTOIL-PERPshort	+0.0048%	1h	97.770	−0.125%	$34K	—	20x
Paradex BZ-USD-PERP	+0.0050%	8h	97.819	−0.075%	$3K	$355	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.744	−0.152%	$155.6M	$115.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.685	−0.212%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.860	−0.033%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.710	−0.187%	$3.8M	$811K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	−0.340%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.593	−0.307%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.685	−0.212%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.665	−0.233%	$116K	—	111x	as long as short