BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0328%/8h= −35.9% APRnext payment −$0.41 per $10,000 · paid last 24h −0.010%

Price spread now: Deribit against GMX−0.026%7-day average +0.011% · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.306%−$31 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.026%, 7d avg +0.011%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Deribit is 0.036% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	97.425	L +0.0328% / S −0.2771%	pay 0.0041% / 1h	47m 32s	$116K	—	111x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.400	0	get 0.0000% / 1h	47m 32s	$100K	$253K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$68.88
Price spread: −0.026% → +0.011%: −$3.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$91.52
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 56 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 Deribit live order book, 56 min ago	0.51 bp	4.0 bp −$4	6.5 bp −$65	doesn't fit	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	97.155	−0.277%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.282%	$237K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0032%	4h	97.380	−0.046%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	97.390	−0.036%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.398	−0.028%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.378	−0.048%	$149.4M	$352.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.350	−0.077%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	−0.056%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.340	−0.087%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.330	−0.098%	$9.2M	$10.8M	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	97.370	−0.056%	$27.9M	$18.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.526	+0.104%	$9.4M	$6.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.530	+0.108%	$18K	$329K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.420	−0.005%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	97.400	−0.026%	$100K	$253K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.300	−0.128%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.460	+0.036%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.533	+0.111%	$225K	$228K	20x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.52	+4.203%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.973	+0.562%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.350	−0.077%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.358	−0.069%	$737K	$3.2M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0036%	1h	97.320	−0.108%	$3.1M	$1.0M	15x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.351	−0.076%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.391	−0.035%	$155.2M	$114.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.465	+0.041%	$1.6M	$462K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.529	+0.106%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	−0.046%	$3.8M	$805K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.390	−0.036%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.409	−0.016%	$82K	$201K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0328% / S −0.2771%	1h	97.425	long leg	$116K	—	111x