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Funding arb · Price arb /

BZ

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0297%/8h= −32.6% APRnext payment −$0.37 per $10,000 · paid last 24h +0.020%
Price spread now: Extended against GMX+0.014%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 GMXShort on Extended
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.024%+$2 on $10k
Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.014%, 7d avg +0.014%
Together, before fees+0.063%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.024% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX BRENTOIL/USD [ETH-USDC]97.865L +0.0329% / S −0.2771%pay 0.0041% / 1h39m 46s$116K—111x
ShortExtended XBR-USD97.8780.0032get 0.0004% / 1h39m 46s$682K$3.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
−$62.44
Price spread: +0.014% → +0.014%
−$0.07
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$79.51
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: GMX: no order-book sample; Extended: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Extended live order book, 4 min ago1.43 bp5.6 bp −$613.9 bp −$139doesn't fitdoesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BRENT/USDC PERP−0.0220%1h96.817−1.071%$8K$7K30xas long as short
Coinbase International BRENTOIL-PERP-INTX−0.0088%1h97.530−0.342%$235K$416K15xas long as short
Hotstuff BRENTOIL-PERP−0.0080%1h97.840−0.026%$34K—20xas long as short
BloFin BZ-USDT−0.0019%4h97.760−0.107%$1.5M$98K50xas long as short
Aster BZUSDT0.0000%4h97.894+0.029%$340K$930K50xas long as short
Binance BZUSDT0.0000%4h97.890+0.026%$147.8M$351.3M100xas long as short
Bybit BZUSDT0.0000%8h97.840−0.026%$10.1M$12.9M100xas long as short
OKX BZ-USDT-SWAP0.0000%4h97.870+0.005%$16.1M$19.8M50xas long as short
RISEx BZ/USDC0.0000%1h97.854−0.011%$2.4M$1.7M20xas long as short
Gate BZ_USDT0.0000%8h97.810−0.056%$9.3M$10.9M100xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget BZUSDT0.0000%4h97.880+0.015%$28.0M$17.3M100xas long as short
Variational Omni BZ0.0000%4h97.768−0.099%$9.4M$6.8M—as long as short
GRVT BZ_USDT_Perp0.0000%4h97.779−0.088%$24K$305K25xas long as short
SunX BRENTOIL-USDT0.0000%4h97.860−0.005%$4K$2.4M20xas long as short
Deribit BRENTOIL_USDC-PERPETUAL0.0000%1h97.830−0.036%$100K$251K15xas long as short
HTX BRENTOIL-USDT0.0000%4h97.830−0.036%$281K$253K75xas long as short
Phemex XBRUSDT0.0000%4h97.920+0.056%$1.2M$87K100xas long as short
edgeX BZUSDC+0.0001%4h97.792−0.074%$225K$229K20xas long as short
Vest BZ-PERP+0.0011%1h101.95+4.174%—$735K10xas long as short
gTrade (Gains Network) BRENT/USDL +0.0011% / S −0.0011%1h98.419+0.567%———as long as short
Lighter BRENTOIL+0.0032%1h97.880+0.015%$3.3M$4.0M20xas long as short
Extended XBR-USDshort+0.0032%1h97.878+0.014%$682K$3.4M10x
Paradex BZ-USD-PERP+0.0050%8h97.884+0.020%$3K$3365xas long as short
tradeXYZ xyz:BRENTOIL+0.0050%1h97.882+0.017%$155.2M$115.8M20xas long as short
Polymarket Perps BRENTOIL-USD+0.0050%1h97.903+0.039%$1.6M$463K20xas long as short
Ondo Perps BRENT-USD.P+0.0050%1h97.820−0.046%$3.1M$1.0M15xas long as short
Aftermath Perps BRENTUSD+0.0083%1h97.792−0.075%$7K$41K5xas long as short
KuCoin BZUSDTM+0.0100%4h97.900+0.036%$3.9M$823K50xas long as short
ApeX Omni BZUSDT+0.0100%1h97.840−0.026%$26K$273K50xas long as short
Kraken Futures PF_BRENTOILUSD+0.0157%1h97.853−0.012%$82K$208K20xas long as short
GMX BRENTOIL/USD [ETH-USDC]longL +0.0329% / S −0.2771%1h97.865long leg$116K—111x