Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.019%

Price spread now: tradeXYZ against BloFin+0.109%48s7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as 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−$340.343% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.109%, 7d avg +0.083%

Together, before fees+0.093%+ Points / potential airdroptradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and tradeXYZ is 0.026% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.083%. The two prices were read 48 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	BloFin BZ-USDT	97.190	0.0004	pay 0.0002% / 4h	30m 31s	$1.5M	$98K	50x
Short	tradeXYZ xyz:BRENTOIL	97.296	0.0050	get 0.0006% / 1h	30m 31s	$155.3M	$114.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.109%Rate

Funding earned: $9.64
Price spread: +0.109% → +0.083%: $2.62
Slippage, 4 orders: −$4.28
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$22.01
Costs to cover: 0.343%
Break-even: 23.0 days

Slippage from BloFin: live order book, 2 min ago; tradeXYZ: live order book, 9 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, 2 min ago	0.51 bp	8.2 bp −$8	10.3 bp −$103	23.1 bp −$2,306	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.05 bp	10.0 bp −$10	10.7 bp −$107	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	96.605	−0.602%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.031%	$236K	$412K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.298	+0.111%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.277	+0.090%	$149.1M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.250	+0.062%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.260	+0.072%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.233	+0.044%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.230	+0.041%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.260	+0.072%	$27.8M	$18.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.187	−0.003%	$9.4M	$6.4M	—	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	97.219	+0.029%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.220	+0.031%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.200	+0.010%	$100K	$255K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.051%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.490	+0.309%	$1.2M	$86K	100x	as long as short
BloFin BZ-USDTlong	+0.0004%	4h	97.190	long leg	$1.5M	$98K	50x
Vest BZ-PERP	+0.0009%	1h	101.34	+4.270%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.755	+0.581%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.225	+0.036%	$224K	$229K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0019%	1h	97.200	+0.010%	$3.1M	$995K	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.270	+0.082%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.269	+0.081%	$735K	$3.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.264	+0.076%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.296	+0.109%	$155.3M	$114.9M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.322	+0.136%	$1.6M	$405K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0080%	1h	97.240	+0.051%	$34K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.289	+0.101%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.260	+0.072%	$3.8M	$801K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.290	+0.103%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.207	+0.018%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.205	+0.015%	$115K	—	111x	as long as short