BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.012%

Price spread now: Coinbase International against Deribit−0.072%59s7-day average −0.119% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.256% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.072%, 7d avg −0.119%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.047% dearer against Deribit than usual: you sell high and buy low (spread −0.072% now, against its 7-day average of −0.119%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours. Mind the row above: over the last 4 days funding on this pair paid +0.166%, so the current rate has only just turned against you. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.600	0	get 0.0000% / 1h	24m 18s	$101K	$250K	15x
Short	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0096	pay 0.0012% / 1h	24m 18s	$235K	$434K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$20.16
Price spread: −0.072% → −0.119%: $4.72
Slippage, 4 orders: −$8.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$41.02
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Deribit: live order book, 24 min ago; Coinbase International: live order book, 24 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, 24 min ago	0.51 bp	9.1 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell Coinbase International live order book, 24 min ago	1.03 bp	6.0 bp −$6	8.2 bp −$82	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	96.783	−0.837%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0096%	1h	97.530	−0.072%	$235K	$434K	15x
Aster BZUSDT	0.0000%	4h	97.642	+0.043%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.623	+0.024%	$147.8M	$361.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.620	+0.020%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.610	+0.010%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.621	+0.022%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.590	−0.010%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.640	+0.041%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.619	+0.019%	$9.4M	$7.0M	—	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	97.601	+0.001%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	+0.051%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.600	long leg	$101K	$250K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.010%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.680	+0.082%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.606	+0.007%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.156	+0.570%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.644	+0.045%	$225K	$227K	20x	as long as short
BloFin BZ-USDT	+0.0012%	4h	97.660	+0.061%	$1.5M	$97K	50x	as long as short
Vest BZ-PERP	+0.0017%	1h	101.70	+4.201%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.640	+0.041%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.593	−0.007%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.627	+0.028%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.639	+0.040%	$154.2M	$123.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.672	+0.074%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.640	+0.041%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0060%	1h	97.647	+0.048%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	97.650	+0.051%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.650	+0.051%	$3.8M	$834K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.620	+0.020%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0319% / S −0.2574%	1h	97.605	+0.005%	$116K	—	111x	as long as short