Funding arb · Price arb /

BZ

RWAall BZ markets

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: SunX against Ondo Perps+0.041%7-day average +0.064% · you sell dearer than you buy

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now +0.041%, 7d avg +0.064%

Together, before fees−0.155%+ Points / potential airdropOndo Perps: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.023% cheaper against Ondo Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	96.770	0.0050	pay 0.0006% / 1h	37m 21s	$3.1M	$1.1M	15x
Short	SunX BRENTOIL-USDT	96.810	0	get 0.0000% / 4h	2h 37m	$4K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Ondo Perps. 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 Ondo PerpsbpFee SunXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$10.58
Price spread: +0.041% → +0.064%: −$2.27
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.85
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	18.59 bp	26.5 bp −$26	35.2 bp −$352	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	95.962	−0.835%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.124%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.010%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.793	+0.024%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.790	+0.021%	$146.2M	$387.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.790	+0.021%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.780	+0.010%	$15.9M	$22.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.782	+0.012%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.010%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.790	+0.021%	$27.6M	$16.5M	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	96.790	+0.021%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.738	−0.033%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	96.810	+0.041%	$4K	$2.6M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.840	+0.072%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	−0.021%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	+0.041%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.303	+0.551%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.740	−0.031%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.800	+0.031%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.773	+0.004%	$674K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.81	+4.175%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.791	+0.021%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.806	+0.037%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.840	+0.072%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	96.770	long leg	$3.1M	$1.1M	15x
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.810	+0.041%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.840	+0.072%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.740	−0.031%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0101%	1h	96.785	+0.016%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.821	+0.053%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0269%	1h	96.832	+0.064%	$7K	$45K	5x	as long as short