Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.015%

Price spread now: Deribit against edgeX−0.005%75s7-day average +0.035% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.417% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.425%−$43 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.005%, 7d avg +0.035%

Together, before fees−0.522%+ Points / potential airdropedgeX: Active · farm board−$52 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: Deribit is 0.041% cheaper against edgeX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.035%. The two prices were read 75 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	edgeX BZUSDC	97.375	0.0008	pay 0.0004% / 4h	3h 43m	$223K	$228K	20x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.370	0	get 0.0000% / 1h	43m 58s	$104K	$241K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$1.73
Price spread: −0.005% → +0.035%: −$4.05
Slippage, 4 orders: −$25.74
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$47.51
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from edgeX: live order book, 8 min ago; Deribit: live order book, 10 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 edgeX live order book, 8 min ago	10.29 bp	14.8 bp −$15	15.7 bp −$157	61.5 bp −$6,145	doesn't fit
Sell Deribit live order book, 10 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	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	96.333	−1.070%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.108%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.396	+0.021%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.384	+0.009%	$147.6M	$368.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.400	+0.026%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.390	+0.015%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.363	−0.013%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.390	+0.015%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.350	−0.026%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.420	+0.046%	$27.9M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.348	−0.028%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.351	−0.025%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.380	+0.005%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	97.370	−0.005%	$104K	$241K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.057%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	+0.015%	$1.2M	$84K	100x	as long as short
edgeX BZUSDClong	+0.0008%	4h	97.375	long leg	$223K	$228K	20x
BloFin BZ-USDT	+0.0010%	4h	97.350	−0.026%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.934	+0.574%	—	—	—	as long as short
Vest BZ-PERP	+0.0030%	1h	101.42	+4.154%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.380	+0.005%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.415	+0.041%	$677K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.367	−0.008%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.440	+0.067%	$153.7M	$126.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.413	+0.039%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.320	−0.057%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.390	+0.015%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.430	+0.056%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.410	+0.036%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0105%	1h	97.331	−0.045%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0235% / S −0.0303%	1h	97.365	−0.010%	$126K	—	111x	as long as short