Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.025%

Price spread now: HTX against Coinbase International−0.237%7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now −0.237%, 7d avg +0.072%

Together, before fees+0.473%+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.309% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.237% now, against its 7-day average of +0.072%). If the spread goes back, that is −$31 on $10k: about 11 days 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	97.240	−0.0096	get 0.0012% / 1h	11m 47s	$234K	$436K	15x
Short	HTX BRENTOIL-USDT	97.010	0	get 0.0000% / 4h	11m 47s	$278K	$268K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.237%Rate

Funding earned: $20.16
Price spread: −0.237% → +0.072%: −$30.85
Slippage, 4 orders: −$8.79
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$41.48
Costs to cover: 0.308%
Break-even: 21.4 days

Slippage from Coinbase International: live order book, 46 min ago; HTX: live order book, 45 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, 46 min ago	1.03 bp	6.7 bp −$7	10.7 bp −$107	doesn't fit	doesn't fit
Sell HTX live order book, 45 min ago	1.54 bp	8.6 bp −$9	9.6 bp −$96	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	96.433	−0.830%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0096%	1h	97.240	long leg	$234K	$436K	15x
BloFin BZ-USDT	−0.0029%	4h	97.030	−0.216%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.078	−0.166%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.040	−0.206%	$147.0M	$369.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.030	−0.216%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.030	−0.216%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.034	−0.212%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.000	−0.247%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.030	−0.216%	$27.7M	$16.5M	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	97.168	−0.074%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.140	−0.103%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.070	−0.175%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.040	−0.206%	$104K	$234K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	97.010	−0.237%	$278K	$268K	75x
Phemex XBRUSDT	0.0000%	4h	97.280	+0.041%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.138	−0.105%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.591	+0.361%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.080	−0.165%	$33K	—	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.08	+3.949%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.040	−0.206%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.040	−0.206%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.041	−0.205%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.068	−0.177%	$153.1M	$127.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.075	−0.170%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.980	−0.267%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.080	−0.165%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.170	−0.072%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0127%	1h	97.136	−0.107%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0143%	1h	97.037	−0.208%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0212% / S −0.0144%	1h	97.035	−0.211%	$126K	—	111x	as long as short