Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0354%/8h= −38.8% APRpaid last 24h −0.007%

Price spread now: Deribit against BloFin+0.042%7-day average +0.018% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.345%−$35 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now +0.042%, 7d avg +0.018%

Together, before fees−0.225%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.024% dearer against BloFin than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.018%): +$2 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BZ-USDT	95.220	−0.0025	get 0.0013% / 4h	2h 56m	$1.5M	$102K	50x
Short	Deribit BRENTOIL_USDC-PERPETUAL	95.260	−0.0380	pay 0.0047% / 1h	56m 50s	$98K	$268K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$74.43
Price spread: +0.042% → +0.018%: $2.36
Slippage, 4 orders: −$12.34
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$103.41
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Deribit: live order book, 37 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 BloFin live order book, 6 min ago	1.58 bp	7.6 bp −$8	10.1 bp −$101	35.0 bp −$3,500	doesn't fit
Sell Deribit live order book, 37 min ago	0.51 bp	4.0 bp −$4	4.8 bp −$48	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
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0380%	1h	95.260	+0.042%	$98K	$268K	15x
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.263	+0.045%	$81K	$204K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.292	+0.076%	$2.4M	$1.8M	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0132%	1h	95.220	0.000%	$3.0M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0132%	4h	95.210	−0.011%	$14K	$328K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.240	+0.021%	$276K	$590K	15x	as long as short
Bybit BZUSDT	−0.0053%	8h	95.210	−0.011%	$10.1M	$14.7M	100x	as long as short
BloFin BZ-USDTlong	−0.0025%	4h	95.220	long leg	$1.5M	$102K	50x
Aster BZUSDT	0.0000%	4h	95.194	−0.028%	$328K	$703K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.210	−0.011%	$146.1M	$393.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.200	−0.021%	$15.9M	$23.1M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.160	−0.063%	$9.1M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.210	−0.011%	$27.8M	$22.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.237	+0.018%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.270	+0.053%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.380	+0.168%	$273K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.550	+0.347%	$1.2M	$80K	100x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0004%	1h	95.249	+0.030%	$1.6M	$386K	20x	as long as short
Vest BZ-PERP	+0.0011%	1h	98.950	+3.917%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.455%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	95.168	−0.055%	$219K	$230K	20x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	95.258	+0.040%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.220	0.000%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.238	+0.019%	$747K	$2.7M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	95.370	+0.158%	$33K	—	20x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+1.178%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.255	+0.037%	$153.0M	$128.3M	20x	as long as short
Aftermath Perps BRENTUSD	+0.0050%	1h	95.388	+0.177%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.210	−0.011%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.320	+0.105%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.245	+0.026%	$33K	—	111x	as long as short