Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0484%/8h= +53.0% APRpaid last 24h +0.017%

Price spread now: OKX against Deribit+0.042%7-day average −0.013% · 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−$19as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.352%+$35 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.042%, 7d avg −0.013%

Together, before fees+0.407%+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and OKX is 0.055% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	95.290	−0.0484	get 0.0061% / 1h	15m 42s	$61K	$309K	15x
Short	OKX BZ-USDT-SWAP	95.330	0	get 0.0000% / 4h	2h 15m	$16.2M	$24.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $101.65
Price spread: +0.042% → −0.013%: $5.48
Slippage, 4 orders: −$7.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $82.78
Costs to cover: 0.243%
Break-even: 1.3 days

Slippage from Deribit: live order book, 36 min ago; OKX: live order book, 1 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, 36 min ago	1.04 bp	7.4 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.52 bp	6.6 bp −$7	10.2 bp −$102	25.9 bp −$2,586	doesn't fit

BZ on 31 exchanges

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
Deribit BRENTOIL_USDC-PERPETUALlong	−0.0484%	1h	95.290	long leg	$61K	$309K	15x
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.309	+0.020%	$94K	$245K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.330	+0.042%	$2.3M	$1.9M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.420	+0.136%	$270K	$647K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0048%	4h	95.510	+0.231%	$14K	$320K	25x	as long as short
Bybit BZUSDT	−0.0009%	8h	95.320	+0.031%	$10.0M	$15.4M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.370	+0.084%	$329K	$700K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.332	+0.045%	$146.5M	$418.4M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	95.330	+0.042%	$16.2M	$24.8M	50x
Gate BZ_USDT	0.0000%	8h	95.250	−0.042%	$9.1M	$12.5M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.310	+0.021%	$27.9M	$25.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.295	+0.005%	$9.2M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.380	+0.094%	$4K	$1.8M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.390	+0.105%	$273K	$260K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.360	+0.073%	$1.2M	$81K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.810	+0.546%	—	—	—	as long as short
Ondo Perps BRENT-USD.P	+0.0017%	1h	95.380	+0.094%	$3.1M	$1.1M	15x	as long as short
Vest BZ-PERP	+0.0019%	1h	99.010	+3.904%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0020%	4h	95.482	+0.202%	$219K	$231K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.310	+0.021%	$3.5M	$5.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.328	+0.040%	$693K	$3.2M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.476%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	+0.0039%	4h	95.440	+0.157%	$1.6M	$108K	50x	as long as short
Paradex BZ-USD-PERP	+0.0041%	8h	95.308	+0.019%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0044%	1h	95.500	+0.220%	$7K	$38K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.329	+0.041%	$145.7M	$139.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.272	−0.019%	$1.6M	$391K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.370	+0.084%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.520	+0.241%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.305	+0.016%	$33K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0272%	1h	95.420	+0.136%	$33K	—	20x	as long as short