BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.030%

Price spread now: Deribit against Ondo Perps+0.135%7-day average +0.055% · you sell dearer than you buy

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

Long on Ondo Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.455%−$46 on $10k

Price spread, last 3 days (all we have)−0.177%−$18 · spread now +0.135%, 7d avg +0.055%

Together, before fees−0.632%+ Points / potential airdropOndo Perps: Active · farm board−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.080% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of +0.055%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.1 days. At the pace of the last 4 days (−0.455% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	96.460	0.0033	pay 0.0004% / 1h	23m 02s	$3.1M	$1.1M	15x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.590	0	get 0.0000% / 1h	23m 02s	$103K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$6.89
Price spread: +0.135% → +0.055%: $7.96
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$10.92
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Deribit: live order book, 51 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 Deribit live order book, 51 min ago	0.52 bp	11.2 bp −$11	11.8 bp −$118	doesn't fit	doesn't fit

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	95.669	−0.820%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.404%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.565	+0.109%	$33K	—	111x	as long as short
Aster BZUSDT	0.0000%	4h	96.569	+0.113%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.576	+0.120%	$145.7M	$422.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.590	+0.135%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.570	+0.114%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.534	+0.076%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.520	+0.062%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.600	+0.145%	$27.6M	$19.3M	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	96.459	−0.001%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.503	+0.045%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.560	+0.104%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	96.590	+0.135%	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.490	+0.031%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.570	+0.114%	$1.2M	$93K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.107	+0.671%	—	—	—	as long as short
BloFin BZ-USDT	+0.0014%	4h	96.500	+0.041%	$1.5M	$95K	50x	as long as short
edgeX BZUSDC	+0.0017%	4h	96.499	+0.040%	$221K	$232K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.576	+0.120%	$83K	$235K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.560	+0.104%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.580	+0.124%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.577	+0.121%	$746K	$5.4M	10x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0033%	1h	96.460	long leg	$3.1M	$1.1M	15x
Paradex BZ-USD-PERP	+0.0043%	8h	96.533	+0.076%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.60	+4.292%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.600	+0.145%	$151.5M	$139.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.590	+0.135%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.600	+0.145%	$3.8M	$983K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.500	+0.041%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0406%	1h	96.525	+0.067%	$7K	$45K	5x	as long as short