Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0132%/8h= −14.4% APRpaid last 24h −0.025%

Price spread now: edgeX against Kraken Futures−0.003%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.957%+$96 on $10k

Price spread, last 4 days (all we have)+0.252%+$25 · spread now −0.003%, 7d avg −0.035%

Together, before fees+1.209%+ Points / potential airdropedgeX: Active · farm board+$121 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.033% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.035%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.957%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	97.018	0.0143	pay 0.0018% / 1h	7m 13s	$84K	$206K	20x
Short	edgeX BZUSDC	97.016	0.0011	get 0.0005% / 4h	7m 13s	$222K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Kraken Futures. 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 Kraken FuturesbpFee edgeXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$27.63
Price spread: −0.003% → −0.035%: $3.27
Slippage, 4 orders: −$41.05
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$84.41
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 50 min ago; edgeX: live order book, 50 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 Kraken Futures live order book, 50 min ago	2.31 bp	12.3 bp −$12	26.6 bp −$266	doesn't fit	doesn't fit
Sell edgeX live order book, 50 min ago	10.27 bp	14.8 bp −$15	16.7 bp −$167	70.9 bp −$7,092	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	96.433	−0.603%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.228%	$234K	$436K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	96.980	−0.040%	$103K	$236K	15x	as long as short
BloFin BZ-USDT	0.0000%	4h	97.000	−0.019%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.023	+0.004%	$337K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.983	−0.036%	$146.9M	$369.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.980	−0.040%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.980	−0.040%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.987	−0.033%	$2.2M	$1.5M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.960	−0.060%	$9.2M	$12.3M	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	96.980	−0.040%	$27.7M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.017	−0.001%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.034	+0.016%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.010	−0.009%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−0.029%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.290	+0.280%	$1.2M	$84K	100x	as long as short
edgeX BZUSDCshort	+0.0011%	4h	97.016	−0.003%	$222K	$227K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.542	+0.539%	—	—	—	as long as short
Vest BZ-PERP	+0.0031%	1h	101.03	+4.135%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.000	−0.019%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.000	−0.019%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.989	−0.031%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.014	−0.005%	$153.0M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.043	+0.025%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.940	−0.081%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.030	+0.012%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.050	+0.032%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.060	+0.043%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0125%	1h	97.066	+0.048%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0143%	1h	97.018	long leg	$84K	$206K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0216% / S −0.0171%	1h	96.985	−0.035%	$126K	—	111x	as long as short