BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0113%/8h= +12.4% APRnext payment +$0.14 per $10,000 · paid last 24h +0.020%

Price spread now: Kraken Futures against Deribit+0.009%7-day average +0.002% · 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−$42as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.088%−$9 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.009%, 7d avg +0.002%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.088%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.280	0	get 0.0000% / 1h	33m 18s	$100K	$254K	15x
Short	Kraken Futures PF_BRENTOILUSD	97.289	0.0113	get 0.0014% / 1h	33m 18s	$82K	$200K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.009%Rate

Funding earned: $23.73
Price spread: +0.009% → +0.002%: $0.76
Slippage, 4 orders: −$26.16
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$18.67
Costs to cover: 0.432%
Break-even: 12.5 days

Slippage from Deribit: live order book, 5 min ago; Kraken Futures: live order book, 4 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, 5 min ago	0.51 bp	8.1 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	5.44 bp	19.4 bp −$19	36.1 bp −$361	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	96.605	−0.694%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.123%	$236K	$412K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.291	+0.011%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.283	+0.003%	$149.2M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.250	−0.031%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	0.000%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.207	−0.075%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.240	−0.041%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.290	+0.010%	$27.8M	$18.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.286	+0.006%	$9.5M	$6.5M	—	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	97.219	−0.063%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	0.000%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.280	long leg	$100K	$254K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.144%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.480	+0.206%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.34	+4.174%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.311	+0.032%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.823	+0.558%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.250	−0.031%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0028%	1h	97.130	−0.154%	$3.1M	$996K	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.200	−0.082%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.278	−0.002%	$738K	$3.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.207	−0.075%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.295	+0.015%	$155.2M	$114.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.310	+0.031%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDT	+0.0050%	4h	97.190	−0.093%	$1.5M	$98K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0091%	1h	97.308	+0.028%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.260	−0.021%	$3.8M	$801K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.160	−0.123%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0113%	1h	97.289	+0.009%	$82K	$200K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.275	−0.005%	$115K	—	111x	as long as short