Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.014%

Price spread now: tradeXYZ against edgeX+0.074%7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.074%, 7d avg +0.102%

Together, before fees+0.034%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.028% cheaper against edgeX than usual: you would sell low and buy high (spread +0.074% now, against its 7-day average of +0.102%). If the spread goes back, that is −$3 on $10k: about 3.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	96.958	0.0019	pay 0.0010% / 4h	1h 23m	$222K	$227K	20x
Short	tradeXYZ xyz:BRENTOIL	97.029	0.0050	get 0.0006% / 1h	23m 22s	$152.0M	$125.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.074%Rate

Funding earned: $6.48
Price spread: +0.074% → +0.102%: −$2.85
Slippage, 4 orders: −$21.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$44.38
Costs to cover: 0.480%
Break-even: 54.9 days

Slippage from edgeX: live order book, 39 min ago; tradeXYZ: live order book, 5 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, 39 min ago	9.81 bp	14.3 bp −$14	15.1 bp −$151	56.3 bp −$5,629	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.21 bp	9.6 bp −$10	10.1 bp −$101	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	96.164	−0.819%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.059%	$233K	$431K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.002	+0.046%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.020	+0.064%	$146.9M	$373.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.990	+0.033%	$10.3M	$13.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.000	+0.044%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.001	+0.045%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.980	+0.023%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.010	+0.054%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.955	−0.003%	$9.3M	$7.1M	—	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	96.959	+0.001%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.040	+0.085%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.010	+0.054%	$104K	$244K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.090%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.080	+0.126%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.552	+0.613%	—	—	—	as long as short
edgeX BZUSDClong	+0.0019%	4h	96.958	long leg	$222K	$227K	20x
BloFin BZ-USDT	+0.0024%	4h	96.980	+0.023%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.030	+0.075%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.024	+0.068%	$676K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0042%	1h	101.05	+4.221%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.013	+0.057%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.029	+0.074%	$152.0M	$125.1M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.067	+0.113%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.930	−0.028%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.040	+0.085%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.980	+0.023%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	97.040	+0.085%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0159%	1h	96.952	−0.006%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S +0.0039%	1h	97.015	+0.059%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.041	+0.086%	$84K	$218K	20x	as long as short