Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Binance against Deribit−0.020%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.409%+$41 on $10k

Price spread, last 2 days (all we have)+0.004%$0 · spread now −0.020%, 7d avg −0.007%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.740	0	get 0.0000% / 1h	39m 07s	$103K	$271K	15x
Short	Binance BZUSDT	96.720	0	get 0.0000% / 4h	2h 39m	$146.1M	$388.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.007%: −$1.31
Slippage, 4 orders: −$6.16
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.48
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Deribit: live order book, 29 min ago; Binance: 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 Deribit live order book, 29 min ago	0.52 bp	4.0 bp −$4	5.2 bp −$52	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.52 bp	5.5 bp −$6	5.8 bp −$58	12.3 bp −$1,229	43.2 bp −$21.6K

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	95.962	−0.804%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.093%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	+0.021%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.744	+0.005%	$336K	$1.2M	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	96.720	−0.020%	$146.1M	$388.3M	100x
Bybit BZUSDT	0.0000%	8h	96.710	−0.031%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.730	−0.010%	$15.9M	$23.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.764	+0.025%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.710	−0.031%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.720	−0.021%	$27.7M	$16.4M	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	96.790	+0.052%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.793	+0.055%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.740	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.740	long leg	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.750	+0.010%	$277K	$284K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.720	−0.021%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.246	+0.523%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.798	+0.060%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.740	0.000%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.728	−0.012%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.77	+4.166%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.766	+0.027%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.759	+0.020%	$151.5M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.802	+0.064%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.740	0.000%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	96.790	+0.052%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.780	+0.041%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	+0.031%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0103%	1h	96.705	−0.036%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.745	+0.005%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0272%	1h	96.788	+0.050%	$7K	$44K	5x	as long as short