Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.024%

Price spread now: SunX against Coinbase International+0.384%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$680.681% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)−0.326%−$33 · spread now +0.384%, 7d avg +0.123%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.261% dearer against Coinbase International than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	93.840	−0.0080	get 0.0010% / 1h	44m 58s	$245K	$1.0M	15x
Short	SunX BRENTOIL-USDT	94.200	0	get 0.0000% / 4h	1h 44m	$4K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.384%Rate

Funding earned: $16.8
Price spread: +0.384% → +0.123%: $26.11
Slippage, 4 orders: −$50.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.15
Costs to cover: 0.681%
Break-even: 17.5 days

Slippage from Coinbase International: live order book, 1 min ago; SunX: live order book, 5 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, 1 min ago	4.78 bp	9.8 bp −$10	12.2 bp −$122	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	18.63 bp	25.9 bp −$26	34.6 bp −$346	doesn't fit	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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	93.860	+0.021%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0599%	1h	94.120	+0.298%	$39K	$378K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0342%	1h	94.183	+0.366%	$100K	$269K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.140	+0.320%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+1.061%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0091%	8h	94.190	+0.373%	$10.7M	$16.9M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0080%	1h	93.840	long leg	$245K	$1.0M	15x
GRVT BZ_USDT_Perp	−0.0078%	4h	93.835	−0.005%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0035%	4h	94.190	+0.373%	$145.3M	$472.4M	100x	as long as short
edgeX BZUSDC	−0.0017%	4h	93.841	+0.001%	$216K	$232K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.186	+0.369%	$323K	$812K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.170	+0.352%	$15.8M	$28.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.100	+0.277%	$8.8M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.190	+0.373%	$27.7M	$30.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.961	+0.129%	$9.0M	$6.7M	—	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	94.200	+0.384%	$4K	$1.7M	20x
HTX BRENTOIL-USDT	0.0000%	4h	93.910	+0.075%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.240	+0.426%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	94.200	+0.384%	$1.5M	$114K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.666	+0.880%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.870	+4.295%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0025%	1h	94.044	+0.217%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	94.149	+0.329%	$1K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0029%	1h	94.175	+0.357%	$130.6M	$185.7M	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.120	+0.298%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.213	+0.397%	$762K	$3.8M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.140	+0.320%	$3.0M	$1.2M	15x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.200	+0.384%	$1.5M	$487K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.130	+0.309%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.860	+0.021%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	+0.304%	$32K	—	111x	as long as short