Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.025%

Price spread now: OKX against Coinbase International−0.419%7-day average +0.104% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.214%+$21 on $10k

Price spread, last 4 days (all we have)+0.601%+$60 · spread now −0.419%, 7d avg +0.104%

Together, before fees+0.815%+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.523% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.419% now, against its 7-day average of +0.104%). If the spread goes back, that is −$52 on $10k: about 22 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	95.420	−0.0080	get 0.0010% / 1h	9m 29s	$270K	$647K	15x
Short	OKX BZ-USDT-SWAP	95.020	0	get 0.0000% / 4h	2h 09m	$16.2M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.419%Rate

Funding earned: $16.8
Price spread: −0.419% → +0.104%: −$52.34
Slippage, 4 orders: −$8.74
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$64.28
Costs to cover: 0.287%
Break-even: 33.8 days

Slippage from Coinbase International: live order book, 41 min ago; OKX: live order book, 2 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, 41 min ago	1.56 bp	9.4 bp −$9	11.4 bp −$114	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.52 bp	7.1 bp −$7	10.4 bp −$104	30.4 bp −$3,045	doesn't fit

BZ on 31 exchanges

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-PERPETUAL	−0.0591%	1h	95.060	−0.377%	$61K	$309K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0340%	1h	95.095	−0.341%	$94K	$247K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.158	−0.274%	$2.3M	$1.9M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0080%	1h	95.420	long leg	$270K	$647K	15x
GRVT BZ_USDT_Perp	−0.0048%	4h	95.155	−0.277%	$14K	$312K	25x	as long as short
Bybit BZUSDT	−0.0023%	8h	95.040	−0.398%	$10.1M	$15.6M	100x	as long as short
BloFin BZ-USDT	−0.0021%	4h	95.190	−0.241%	$1.5M	$109K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.068	−0.369%	$328K	$693K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.068	−0.369%	$146.4M	$421.9M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	95.020	−0.419%	$16.2M	$24.9M	50x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.020	−0.419%	$9.1M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.060	−0.377%	$27.9M	$26.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.184	−0.248%	$9.2M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.190	−0.241%	$4K	$1.8M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.170	−0.262%	$272K	$260K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.230	−0.199%	$1.2M	$81K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.143	−0.290%	$219K	$230K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0006%	1h	95.010	−0.430%	$3.1M	$1.1M	15x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.617	+0.207%	—	—	—	as long as short
Vest BZ-PERP	+0.0019%	1h	98.820	+3.563%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.080	−0.356%	$3.5M	$5.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.115	−0.319%	$671K	$3.3M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.612%	$8K	$7K	30x	as long as short
Aftermath Perps BRENTUSD	+0.0035%	1h	95.358	−0.065%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0040%	8h	95.053	−0.385%	$1K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.101	−0.334%	$145.3M	$139.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.101	−0.334%	$1.6M	$391K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.140	−0.293%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.270	−0.157%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0152%	1h	95.240	−0.189%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.225	−0.204%	$33K	—	111x	as long as short