Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.021%

Price spread now: Kraken Futures against HTX+0.071%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.909%−$91 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.071%, 7d avg +0.048%

Together, before fees−1.025%−$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.024% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.048%. Mind the row above: over the last 7 days funding on this pair cost −0.909%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	96.740	0	get 0.0000% / 4h	2h 35m	$277K	$269K	75x
Short	Kraken Futures PF_BRENTOILUSD	96.809	0.0253	get 0.0032% / 1h	35m 24s	$83K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now +0.071%Rate

Funding earned: $53.14
Price spread: +0.071% → +0.048%: $2.36
Slippage, 4 orders: −$24.03
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $9.47
Costs to cover: 0.460%
Break-even: 5.8 days

Slippage from HTX: live order book, 32 min ago; Kraken Futures: live order book, 32 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 HTX live order book, 32 min ago	2.07 bp	9.1 bp −$9	16.5 bp −$165	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 min ago	3.72 bp	16.5 bp −$17	36.9 bp −$369	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	96.070	−0.693%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.093%	$234K	$421K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0064%	1h	96.790	+0.052%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	+0.021%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.780	+0.041%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.770	+0.031%	$146.2M	$387.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.760	+0.021%	$10.3M	$14.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.770	+0.031%	$15.9M	$22.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.764	+0.025%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.730	−0.010%	$9.2M	$12.7M	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	96.780	+0.041%	$27.6M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.770	+0.031%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.738	−0.002%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.790	+0.052%	$4K	$2.6M	20x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	96.740	long leg	$277K	$269K	75x
Phemex XBRUSDT	0.0000%	4h	96.780	+0.041%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.295	+0.573%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.740	0.000%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.770	+0.031%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.776	+0.037%	$673K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.81	+4.207%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.771	+0.032%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.791	+0.053%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.844	+0.108%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.720	−0.021%	$3.1M	$1.1M	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0060%	1h	96.830	+0.093%	$103K	$271K	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.840	+0.103%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.800	+0.062%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0100%	1h	96.765	+0.026%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0253%	1h	96.809	+0.071%	$83K	$218K	20x
Aftermath Perps BRENTUSD	+0.0266%	1h	96.832	+0.095%	$7K	$45K	5x	as long as short