Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.054%

Price spread now: Coinbase International against KuCoin−0.082%7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.416%−$42 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now −0.082%, 7d avg −0.128%

Together, before fees−0.458%−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.046% dearer against KuCoin than usual: you sell high and buy low (spread −0.082% now, against its 7-day average of −0.128%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.610	0.0100	pay 0.0050% / 4h	2h 08m	$3.8M	$832K	50x
Short	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0096	pay 0.0012% / 1h	8m 17s	$235K	$426K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$41.16
Price spread: −0.082% → −0.128%: $4.64
Slippage, 4 orders: −$15.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$73.86
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Coinbase International: live order book, 40 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 KuCoin live order book, 4 min ago	0.51 bp	9.5 bp −$9	39.9 bp −$399	doesn't fit	doesn't fit
Sell Coinbase International live order book, 40 min ago	1.03 bp	6.0 bp −$6	8.2 bp −$82	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	96.939	−0.687%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0096%	1h	97.530	−0.082%	$235K	$426K	15x
Aster BZUSDT	0.0000%	4h	97.619	+0.010%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.620	+0.010%	$147.6M	$358.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.610	0.000%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.620	+0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.568	−0.043%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.600	−0.010%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.610	0.000%	$27.7M	$17.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.668	+0.059%	$9.4M	$7.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.687	+0.079%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	+0.041%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.620	+0.010%	$100K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.630	+0.020%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.610	0.000%	$1.2M	$80K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.630	+0.021%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.169	+0.572%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	101.65	+4.139%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0018%	4h	97.666	+0.058%	$225K	$227K	20x	as long as short
BloFin BZ-USDT	+0.0028%	4h	97.620	+0.010%	$1.5M	$95K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.630	+0.020%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.633	+0.024%	$681K	$3.6M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0040%	1h	97.630	+0.020%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.592	−0.018%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.634	+0.025%	$154.4M	$122.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.641	+0.032%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.520	−0.092%	$3.1M	$998K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0072%	1h	97.632	+0.022%	$7K	$42K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.610	long leg	$3.8M	$832K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.690	+0.082%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.625	+0.015%	$116K	—	111x	as long as short