Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.001%

Price spread now: Aster against GMX+0.098%7-day average −0.014% · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.115%−$11 · spread now +0.098%, 7d avg −0.014%

Together, before fees−0.025%+ Points / potential airdropAster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.111% dearer against GMX than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of −0.014%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 3 days funding on this pair paid +0.090%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.090% in total (about 9.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	97.195	L +0.0328% / S −0.2771%	pay 0.0041% / 1h	10m 53s	$115K	—	111x
Short	Aster BZUSDT	97.290	0	get 0.0000% / 4h	10m 53s	$338K	$860K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$68.93
Price spread: +0.098% → −0.014%: $11.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$77.79
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 32 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 32 min ago	2.05 bp	6.1 bp −$6	11.0 bp −$110	82.8 bp −$8,284	doesn't fit

GMX: 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	96.342	−0.878%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	97.200	+0.005%	$100K	$256K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	−0.087%	$236K	$401K	15x	as long as short
BloFin BZ-USDT	−0.0047%	4h	97.180	−0.015%	$1.5M	$98K	50x	as long as short
Ondo Perps BRENT-USD.P	−0.0007%	1h	97.120	−0.077%	$3.1M	$998K	15x	as long as short
Aster BZUSDTshort	0.0000%	4h	97.290	+0.098%	$338K	$860K	50x
Binance BZUSDT	0.0000%	4h	97.239	+0.045%	$148.3M	$351.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.230	+0.036%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.200	+0.005%	$16.1M	$19.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.178	−0.018%	$2.4M	$1.7M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.190	−0.005%	$9.2M	$11.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.250	+0.057%	$27.9M	$18.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.183	−0.012%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.070	−0.129%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.220	+0.026%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.070	−0.129%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.560	+0.376%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	97.124	−0.073%	$223K	$230K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.22	+4.141%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.766	+0.588%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.210	+0.015%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.271	+0.079%	$728K	$2.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.194	−0.001%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.241	+0.047%	$155.4M	$115.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.241	+0.047%	$1.6M	$405K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	97.240	+0.046%	$34K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0083%	1h	97.137	−0.059%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.220	+0.026%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.070	−0.129%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.215	+0.021%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0328% / S −0.2771%	1h	97.195	long leg	$115K	—	111x