Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.025%

Price spread now: Gate against Coinbase International+0.010%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.365% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now +0.010%, 7d avg +0.057%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.057%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0096	get 0.0012% / 1h	4m 57s	$235K	$426K	15x
Short	Gate BZ_USDT	97.540	0	get 0.0000% / 8h	2h 04m	$9.3M	$11.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now +0.010%Rate

Funding earned: $20.16
Price spread: +0.010% → +0.057%: −$4.71
Slippage, 4 orders: −$11.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.07
Costs to cover: 0.365%
Break-even: 14.3 days

Slippage from Coinbase International: live order book, 43 min ago; Gate: live order book, 4 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 Coinbase International live order book, 43 min ago	1.03 bp	6.5 bp −$6	10.4 bp −$104	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.02 bp	13.6 bp −$14	21.0 bp −$210	28.2 bp −$2,822	40.3 bp −$20.2K

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	96.939	−0.606%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0096%	1h	97.530	long leg	$235K	$426K	15x
Aster BZUSDT	0.0000%	4h	97.588	+0.059%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.590	+0.062%	$147.5M	$357.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.570	+0.041%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.570	+0.041%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.524	−0.006%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	97.540	+0.010%	$9.3M	$11.7M	100x
Bitget BZUSDT	0.0000%	4h	97.570	+0.041%	$27.7M	$17.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.538	+0.008%	$9.4M	$6.9M	—	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	97.560	+0.030%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.560	+0.031%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.550	+0.021%	$100K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.630	+0.103%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.530	0.000%	$1.2M	$80K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.554	+0.024%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.100	+0.584%	—	—	—	as long as short
Vest BZ-PERP	+0.0014%	1h	101.60	+4.173%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0017%	4h	97.556	+0.027%	$225K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.550	+0.021%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.577	+0.048%	$681K	$3.5M	10x	as long as short
BloFin BZ-USDT	+0.0045%	4h	97.560	+0.031%	$1.5M	$95K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.549	+0.019%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.580	+0.051%	$154.4M	$122.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.562	+0.033%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.500	−0.031%	$3.1M	$995K	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	97.570	+0.041%	$34K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	97.597	+0.068%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.590	+0.062%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	+0.031%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.545	+0.015%	$116K	—	111x	as long as short