Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.023%

Price spread now: Kraken Futures against Binance+0.063%54s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.399% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.953%−$95 on $10k

Price spread, last 2 days (all we have)+0.043%+$4 · spread now +0.063%, 7d avg +0.051%

Together, before fees−0.910%−$91 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.051%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.953%, so the current rate has only just turned in your favour. The two prices were read 54 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	96.800	0	get 0.0000% / 4h	2h 56m	$146.0M	$397.1M	100x
Short	Kraken Futures PF_BRENTOILUSD	96.861	0.0253	get 0.0032% / 1h	56m 22s	$83K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.063%Rate

Funding earned: $53.11
Price spread: +0.063% → +0.051%: $1.25
Slippage, 4 orders: −$19.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $14.45
Costs to cover: 0.399%
Break-even: 5.1 days

Slippage from Binance: live order book, 2 min ago; Kraken Futures: live order book, 11 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	0.52 bp	5.5 bp −$6	6.6 bp −$66	14.3 bp −$1,426	48.3 bp −$24.2K
Sell Kraken Futures live order book, 11 min ago	3.72 bp	16.5 bp −$17	36.9 bp −$369	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	95.962	−0.866%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.155%	$234K	$421K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.842	+0.043%	$336K	$1.2M	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	96.800	long leg	$146.0M	$397.1M	100x
Bybit BZUSDT	0.0000%	8h	96.780	−0.021%	$10.4M	$14.8M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.820	+0.021%	$15.9M	$23.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.826	+0.027%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.790	−0.010%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.830	+0.031%	$27.7M	$16.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.668	−0.136%	$9.3M	$7.4M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.828	+0.029%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.880	+0.083%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.850	+0.052%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.700	−0.103%	$308K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.840	+0.041%	$1.2M	$88K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.333	+0.550%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.739	−0.063%	$222K	$232K	20x	as long as short
BloFin BZ-USDT	+0.0028%	4h	96.840	+0.041%	$1.5M	$91K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.840	+0.041%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.840	+0.042%	$688K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.86	+4.194%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.834	+0.035%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.830	+0.031%	$151.7M	$138.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.867	+0.069%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.820	+0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.870	+0.072%	$3.8M	$918K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.890	+0.093%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	96.880	+0.083%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0117%	1h	96.805	+0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0253%	1h	96.861	+0.063%	$83K	$219K	20x
Aftermath Perps BRENTUSD	+0.0312%	1h	96.799	−0.001%	$7K	$44K	5x	as long as short