Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.062%

Price spread now: BloFin against Injective+1.109%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 1.109% dearer against Injective than usual: you sell high and buy low: +$111 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BRENT/USDC PERP	96.342	−0.0220	get 0.0028% / 1h	9m 07s	$8K	$7K	30x
Short	BloFin BZ-USDT	97.410	0.0022	get 0.0011% / 4h	9m 07s	$1.5M	$99K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +1.109%Rate

Funding earned: $50.89
Price spread: +1.109% → 0.000%: $110.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $149.72
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.51 bp	6.6 bp −$7	9.6 bp −$96	22.3 bp −$2,226	doesn't fit

Injective: 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 PERPlong	−0.0220%	1h	96.342	long leg	$8K	$7K	30x
Deribit BRENTOIL_USDC-PERPETUAL	−0.0161%	1h	97.390	+1.088%	$100K	$256K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	+0.797%	$236K	$401K	15x	as long as short
Ondo Perps BRENT-USD.P	−0.0010%	1h	97.140	+0.828%	$3.1M	$999K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.443	+1.143%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.462	+1.162%	$148.7M	$350.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.440	+1.140%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.420	+1.119%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.254	+0.946%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.390	+1.088%	$9.2M	$11.2M	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	97.450	+1.150%	$27.9M	$18.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.183	+0.873%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.187	+0.877%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.974%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.070	+0.756%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.440	+1.140%	$1.2M	$86K	100x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.35	+5.198%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.952	+1.671%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.166	+0.855%	$223K	$228K	20x	as long as short
BloFin BZ-USDTshort	+0.0022%	4h	97.410	+1.109%	$1.5M	$99K	50x
Lighter BRENTOIL	+0.0032%	1h	97.460	+1.160%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.406	+1.105%	$736K	$2.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.266	+0.959%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.490	+1.192%	$155.8M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.349	+1.045%	$1.6M	$398K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.173	+0.862%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.410	+1.109%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	+0.922%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.360	+1.057%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0120%	1h	97.320	+1.015%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.345	+1.041%	$116K	—	111x	as long as short