BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.030%

Price spread now: Ondo Perps against Deribit−0.083%7-day average −0.055% · you buy dearer than you sell

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

Long on Deribit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.455%+$46 on $10k

Price spread, last 3 days (all we have)+0.125%+$13 · spread now −0.083%, 7d avg −0.055%

Together, before fees+0.580%+ Points / potential airdropOndo Perps: Active · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.028% cheaper against Deribit than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of −0.055%). If the spread goes back, that is −$3 on $10k: about 2.9 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.455% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.540	0	get 0.0000% / 1h	23m 55s	$103K	$271K	15x
Short	Ondo Perps BRENT-USD.P	96.460	0.0032	get 0.0004% / 1h	23m 55s	$3.1M	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.083%Rate

Funding earned: $6.72
Price spread: −0.083% → −0.055%: −$2.77
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8.05
Costs to cover: 0.120%
Break-even: 15.4 days

Slippage unknown: Deribit: live order book, 50 min ago; Ondo Perps: 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, 50 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 PERP	−0.0220%	1h	95.669	−0.902%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.487%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.525	−0.016%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0051%	4h	96.540	0.000%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.539	−0.001%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.540	0.000%	$145.7M	$422.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.530	−0.010%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.510	−0.031%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.512	−0.029%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.480	−0.062%	$9.2M	$14.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.540	0.000%	$27.6M	$19.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.459	−0.084%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.466	−0.076%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.540	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.540	long leg	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.490	−0.052%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.520	−0.021%	$1.2M	$93K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	96.458	−0.085%	$221K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.056	+0.534%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.549	+0.009%	$83K	$235K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.540	0.000%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.530	−0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.535	−0.005%	$748K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0032%	1h	96.460	−0.083%	$3.1M	$1.1M	15x
Paradex BZ-USD-PERP	+0.0043%	8h	96.518	−0.023%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.59	+4.195%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.554	+0.015%	$151.5M	$139.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.564	+0.025%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.550	+0.010%	$3.8M	$983K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.500	−0.041%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0411%	1h	96.516	−0.025%	$7K	$45K	5x	as long as short