Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Extended against OKX−0.066%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.066%, 7d avg −0.016%

Together, before fees+0.073%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.050% cheaper against OKX than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.016%). If the spread goes back, that is −$5 on $10k: about 5.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.012% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	95.340	0	get 0.0000% / 4h	2h 56m	$16.0M	$23.1M	50x
Short	Extended XBR-USD	95.277	0.0032	get 0.0004% / 1h	56m 29s	$747K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.066%Rate

Funding earned: $6.72
Price spread: −0.066% → −0.016%: −$5.03
Slippage, 4 orders: −$8.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$21.67
Costs to cover: 0.234%
Break-even: 29.6 days

Slippage from OKX: live order book, 2 min ago; Extended: live order book, 2 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 OKX live order book, 2 min ago	0.52 bp	7.1 bp −$7	11.7 bp −$117	174.4 bp −$17.4K	doesn't fit
Sell Extended live order book, 2 min ago	1.36 bp	5.5 bp −$5	18.2 bp −$182	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0380%	1h	95.260	−0.084%	$98K	$268K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.263	−0.081%	$81K	$204K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.234	−0.111%	$2.3M	$1.8M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0132%	4h	95.210	−0.136%	$14K	$328K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0110%	1h	95.060	−0.294%	$3.0M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.240	−0.105%	$276K	$590K	15x	as long as short
Bybit BZUSDT	−0.0043%	8h	95.360	+0.021%	$10.1M	$14.7M	100x	as long as short
BloFin BZ-USDT	−0.0025%	4h	95.220	−0.126%	$1.5M	$102K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.345	+0.006%	$328K	$703K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.371	+0.032%	$146.4M	$394.1M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAPlong	0.0000%	4h	95.340	long leg	$16.0M	$23.1M	50x
Gate BZ_USDT	0.0000%	8h	95.300	−0.042%	$9.1M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.340	0.000%	$27.8M	$22.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.237	−0.108%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.270	−0.073%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.380	+0.042%	$273K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.550	+0.220%	$1.2M	$80K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.329%	—	—	—	as long as short
Vest BZ-PERP	+0.0012%	1h	98.970	+3.807%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0012%	4h	95.168	−0.180%	$219K	$230K	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0024%	1h	95.298	−0.044%	$1.6M	$386K	20x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	95.189	−0.158%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.220	−0.126%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	95.277	−0.066%	$747K	$2.7M	10x
Hotstuff BRENTOIL-PERP	+0.0032%	1h	95.300	−0.042%	$33K	—	20x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+1.051%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.408	+0.071%	$153.3M	$128.4M	20x	as long as short
Aftermath Perps BRENTUSD	+0.0056%	1h	95.367	+0.028%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.370	+0.031%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.320	−0.021%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.345	+0.005%	$33K	—	111x	as long as short