Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: Bitget against Ondo Perps+0.103%7-day average +0.101% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.103%, 7d avg +0.101%

Together, before fees−0.208%+ Points / potential airdropOndo Perps: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.101%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	96.700	0.0050	pay 0.0006% / 1h	38m 39s	$3.1M	$1.1M	15x
Short	Bitget BZUSDT	96.800	0	get 0.0000% / 4h	2h 38m	$27.6M	$16.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$10.58
Price spread: +0.103% → +0.101%: $0.22
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$27.36
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 5 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.52 bp	7.3 bp −$7	9.6 bp −$96	25.4 bp −$2,538	64.8 bp −$32.4K

Ondo Perps: 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 PERP	−0.0220%	1h	95.962	−0.763%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.052%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	+0.062%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.762	+0.064%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.790	+0.093%	$146.2M	$388.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.770	+0.072%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.790	+0.093%	$15.9M	$22.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.787	+0.089%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.750	+0.052%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	96.800	+0.103%	$27.6M	$16.5M	100x

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	+0.093%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.793	+0.096%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.740	+0.041%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.740	+0.041%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	+0.052%	$277K	$284K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.720	+0.021%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.246	+0.565%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.798	+0.101%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.780	+0.083%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.794	+0.097%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.77	+4.209%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.785	+0.088%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.806	+0.110%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.802	+0.105%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	96.700	long leg	$3.1M	$1.1M	15x
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.800	+0.103%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.850	+0.155%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	+0.072%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0103%	1h	96.705	+0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.745	+0.046%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0272%	1h	96.788	+0.091%	$7K	$44K	5x	as long as short