Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: HTX against Deribit+0.031%7-day average −0.048% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.324%+$32 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.031%, 7d avg −0.048%

Together, before fees+0.273%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.078% dearer against Deribit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.960	0	get 0.0000% / 1h	49m 10s	$103K	$239K	15x
Short	HTX BRENTOIL-USDT	96.990	0	get 0.0000% / 4h	1h 49m	$278K	$269K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.048%: $7.85
Slippage, 4 orders: −$14.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$25.35
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Deribit: live order book, 14 min ago; HTX: live order book, 13 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, 14 min ago	0.52 bp	5.9 bp −$6	6.2 bp −$62	doesn't fit	doesn't fit
Sell HTX live order book, 13 min ago	3.10 bp	9.1 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit

BZ on 30 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	96.207	−0.777%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.155%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.948	−0.013%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.940	−0.021%	$146.5M	$375.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.940	−0.021%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	−0.010%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.945	−0.016%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.990	+0.031%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.900	−0.062%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.940	−0.021%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.006	+0.048%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.053%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.960	long leg	$103K	$239K	15x
HTX BRENTOIL-USDTshort	0.0000%	4h	96.990	+0.031%	$278K	$269K	75x
Phemex XBRUSDT	0.0000%	4h	96.950	−0.010%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.492	+0.548%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.887	−0.075%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.960	0.000%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.968	+0.008%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.02	+4.187%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.953	−0.008%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.971	+0.011%	$151.9M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.015	+0.057%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.930	−0.031%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.010	+0.052%	$3.8M	$876K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.970	+0.010%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0061%	1h	96.945	−0.015%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0197%	1h	97.000	+0.041%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.977	+0.017%	$84K	$218K	20x	as long as short