Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: HTX against Ondo Perps−0.010%7-day average +0.007% · you buy dearer than you sell

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.010%, 7d avg +0.007%

Together, before fees−0.226%+ Points / potential airdropOndo Perps: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, 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	97.360	0.0050	pay 0.0006% / 1h	37m 52s	$3.1M	$1.0M	15x
Short	HTX BRENTOIL-USDT	97.350	0	get 0.0000% / 4h	3h 37m	$279K	$267K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$10.58
Price spread: −0.010% → +0.007%: −$1.77
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.35
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 14 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 HTX live order book, 14 min ago	1.54 bp	44.8 bp −$45	doesn't fit	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	96.333	−1.055%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.092%	$233K	$439K	15x	as long as short
BloFin BZ-USDT	−0.0053%	4h	97.460	+0.103%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.390	+0.031%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.380	+0.021%	$147.5M	$368.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.380	+0.021%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	+0.010%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.400	+0.041%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.340	−0.021%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.380	+0.021%	$28.0M	$16.6M	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	97.458	+0.101%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.462	+0.105%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.410	+0.051%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.390	+0.031%	$104K	$243K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	97.350	−0.010%	$279K	$267K	75x
Phemex XBRUSDT	0.0000%	4h	97.410	+0.051%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.427	+0.068%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.932	+0.588%	—	—	—	as long as short
Vest BZ-PERP	+0.0029%	1h	101.46	+4.211%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.400	+0.041%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.402	+0.043%	$675K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.396	+0.037%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.404	+0.045%	$153.8M	$126.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.437	+0.079%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	97.360	long leg	$3.1M	$1.0M	15x
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.410	+0.051%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.450	+0.092%	$3.8M	$860K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.370	+0.010%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.431	+0.073%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0241% / S −0.1068%	1h	97.385	+0.026%	$115K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0264%	1h	97.460	+0.103%	$34K	—	20x	as long as short