Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: OKX against Injective+0.729%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 OKX

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 OKX is 0.729% dearer against Injective than usual: you sell high and buy low: +$73 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	96.070	−0.0220	get 0.0028% / 1h	36m 39s	$8K	$7K	30x
Short	OKX BZ-USDT-SWAP	96.770	0	get 0.0000% / 4h	2h 36m	$15.9M	$22.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.729%Rate

Funding earned: $46.2
Price spread: +0.729% → 0.000%: $72.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $109.04
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.52 bp	5.5 bp −$6	8.2 bp −$82	25.1 bp −$2,506	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	96.070	long leg	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	+0.604%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	+0.718%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.790	+0.750%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.780	+0.739%	$146.2M	$387.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.760	+0.718%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.770	+0.729%	$15.9M	$22.7M	50x
RISEx BZ/USDC	0.0000%	1h	96.766	+0.725%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.740	+0.697%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.780	+0.739%	$27.6M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.790	+0.749%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.738	+0.696%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.810	+0.770%	$4K	$2.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	+0.708%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.790	+0.749%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.303	+1.284%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.740	+0.697%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.770	+0.729%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.773	+0.732%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.81	+4.934%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.766	+0.724%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.788	+0.747%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.840	+0.801%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.750	+0.708%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.810	+0.770%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0060%	1h	96.830	+0.791%	$103K	$271K	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.791%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.740	+0.697%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0101%	1h	96.785	+0.744%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.812	+0.772%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0269%	1h	96.832	+0.793%	$7K	$45K	5x	as long as short