Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0220%/8hpaid last 24h −0.122%

Price spread now: Injective against Binance−0.851%57s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.851% cheaper against Binance than usual: you would sell low and buy high (−$85 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	96.160	0	get 0.0000% / 4h	4m 21s	$145.3M	$477.5M	100x
Short	Injective BRENT/USDC PERP	95.342	−0.0220	pay 0.0028% / 1h	4m 21s	$10K	$4K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.851%Rate

Funding earned: −$46.2
Price spread: −0.851% → 0.000%: −$85.07
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$141.29
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 14 min ago; Injective: 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 Binance live order book, 14 min ago	0.52 bp	5.5 bp −$6	6.2 bp −$62	12.7 bp −$1,267	49.4 bp −$24.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	95.342	−0.851%	$10K	$4K	30x
GMX BRENTOIL/USD [ETH-USDC]	L −0.0196% / S +0.0327%	1h	96.155	−0.005%	$109K	—	111x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	95.990	−0.177%	$230K	$839K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.152	−0.009%	$333K	$1.7M	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	96.160	long leg	$145.3M	$477.5M	100x
Bybit BZUSDT	0.0000%	8h	96.150	−0.010%	$10.4M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.140	−0.021%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.133	−0.028%	$2.2M	$1.2M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.110	−0.052%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.160	0.000%	$27.7M	$23.1M	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	96.105	−0.058%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.109	−0.053%	$35K	$408K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.150	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.160	0.000%	$103K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.110	−0.052%	$319K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.130	−0.031%	$1.2M	$99K	100x	as long as short
BloFin BZ-USDT	+0.0001%	4h	96.110	−0.052%	$1.5M	$96K	50x	as long as short
Ondo Perps BRENT-USD.P	+0.0010%	1h	96.110	−0.052%	$3.1M	$1.1M	15x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.890	+0.759%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.083	−0.080%	$220K	$234K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	96.127	−0.035%	$81K	$262K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.150	−0.010%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.169	+0.009%	$671K	$5.2M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0043%	1h	96.134	−0.027%	$6K	$48K	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.24	+4.243%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.149	−0.011%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.196	+0.037%	$149.0M	$144.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.194	+0.035%	$1.5M	$552K	20x	as long as short
KuCoin BZUSDTM	+0.0074%	4h	96.170	+0.010%	$3.7M	$986K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.090	−0.073%	$25K	$270K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0152%	1h	96.170	+0.010%	$33K	—	20x	as long as short