BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0248%/8h= −27.1% APRnext payment −$0.31 per $10,000 · paid last 24h −0.010%

Price spread now: tradeXYZ against Kraken Futures+0.033%50s7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs+$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.517% of the position

Long on Kraken Futures Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+1.042%+$104 on $10k

Price spread, last 4 days (all we have)+0.347%+$35 · spread now +0.033%, 7d avg +0.069%

Together, before fees+1.389%+ Points / potential airdroptradeXYZ: Active · farm board+$139 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and tradeXYZ is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.069%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.042%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	97.229	0.0298	pay 0.0037% / 1h	59m 31s	$84K	$218K	20x
Short	tradeXYZ xyz:BRENTOIL	97.261	0.0050	get 0.0006% / 1h	59m 31s	$152.5M	$125.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$51.98
Price spread: +0.033% → +0.069%: −$3.59
Slippage, 4 orders: −$23.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$107.28
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 63 min ago; tradeXYZ: live order book, 10 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, 63 min ago	3.20 bp	16.7 bp −$17	24.3 bp −$243	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.21 bp	9.6 bp −$10	10.2 bp −$102	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	96.141	−1.119%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.246%	$234K	$433K	15x	as long as short
BloFin BZ-USDT	−0.0028%	4h	97.160	−0.071%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.227	−0.002%	$338K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.250	+0.022%	$147.1M	$372.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.230	+0.001%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.230	+0.001%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.236	+0.007%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.180	−0.050%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.240	+0.011%	$27.5M	$16.4M	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	97.125	−0.107%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.155	−0.076%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.250	+0.022%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.240	+0.011%	$104K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.130	−0.102%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.240	+0.011%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.138	−0.094%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.767	+0.554%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.240	+0.011%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.247	+0.019%	$675K	$4.6M	10x	as long as short
Vest BZ-PERP	+0.0038%	1h	101.28	+4.166%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0040%	1h	97.250	+0.022%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.238	+0.010%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.261	+0.033%	$152.5M	$125.1M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.298	+0.071%	$1.6M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.190	−0.040%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.260	+0.032%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.130	−0.102%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0113%	1h	97.125	−0.107%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0187% / S +0.0019%	1h	97.225	−0.004%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0298%	1h	97.229	long leg	$84K	$218K	20x