BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0220%/8h= −24.1% APRnext payment −$0.28 per $10,000 · paid last 24h −0.053%

Price spread now: Injective against Deribit−0.867%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.867% cheaper against Deribit than usual: you would sell low and buy high (−$87 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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	97.380	0	get 0.0000% / 1h	15m 54s	$104K	$246K	15x
Short	Injective BRENT/USDC PERP	96.536	−0.0220	pay 0.0028% / 1h	15m 54s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.867%Rate

Funding earned: −$46.2
Price spread: −0.867% → 0.000%: −$86.67
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$139.89
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 38 min ago; Injective: no order-book sample. Net counts fees only.

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, 38 min ago	0.51 bp	8.1 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.0220%	1h	96.536	−0.867%	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.113%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.368	−0.012%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.376	−0.004%	$147.4M	$366.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.370	−0.010%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.360	−0.021%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.338	−0.043%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.340	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	−0.021%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.338	−0.043%	$9.3M	$6.9M	—	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	97.297	−0.086%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.370	−0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.380	long leg	$104K	$246K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.062%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.520	+0.144%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.903	+0.537%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	97.273	−0.110%	$223K	$227K	20x	as long as short
Vest BZ-PERP	+0.0026%	1h	101.41	+4.138%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.360	−0.021%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.387	+0.007%	$680K	$4.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.359	−0.022%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.385	+0.005%	$153.8M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.392	+0.012%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.300	−0.082%	$3.1M	$1.0M	15x	as long as short
BloFin BZ-USDT	+0.0055%	4h	97.390	+0.010%	$1.5M	$92K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.376	−0.004%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.361	−0.019%	$7K	$43K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.390	+0.010%	$3.8M	$851K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	−0.021%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0216%	1h	97.370	−0.010%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0264% / S −0.1554%	1h	97.355	−0.026%	$115K	—	111x	as long as short