Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.011%

Price spread now: Deribit against Binance−0.031%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.211% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.412%−$41 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now −0.031%, 7d avg −0.021%

Together, before fees−0.580%−$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	97.750	0	get 0.0000% / 4h	1h 41m	$147.6M	$352.4M	100x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.720	−0.0057	pay 0.0007% / 1h	41m 32s	$100K	$251K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$11.94
Price spread: −0.031% → −0.021%: −$0.92
Slippage, 4 orders: −$4.07
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.93
Costs to cover: 0.211%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Deribit: 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 Binance live order book, 2 min ago	0.51 bp	5.5 bp −$6	5.9 bp −$59	9.8 bp −$976	37.2 bp −$18.6K
Sell Deribit live order book, 2 min ago	0.51 bp	4.0 bp −$4	6.5 bp −$65	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	96.817	−0.954%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.225%	$235K	$416K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0057%	1h	97.720	−0.031%	$100K	$251K	15x
BloFin BZ-USDT	−0.0022%	4h	97.770	+0.020%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.751	+0.001%	$340K	$930K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	97.750	long leg	$147.6M	$352.4M	100x
Bybit BZUSDT	0.0000%	8h	97.700	−0.051%	$10.1M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.730	−0.020%	$16.1M	$19.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.717	−0.034%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.690	−0.061%	$9.3M	$10.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.760	+0.010%	$28.0M	$17.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.738	−0.012%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.779	+0.030%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.820	+0.072%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.760	+0.010%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.790	+0.041%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.792	+0.043%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0011%	1h	101.86	+4.205%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.327	+0.591%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.740	−0.010%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.754	+0.005%	$682K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.749	−0.001%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.795	+0.046%	$155.0M	$119.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.793	+0.044%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.710	−0.041%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0085%	1h	97.782	+0.033%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.770	+0.020%	$3.8M	$823K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.840	+0.092%	$26K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	97.820	+0.072%	$34K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.786	+0.037%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.765	+0.015%	$116K	—	111x	as long as short