Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.007%

Price spread now: Hotstuff against Paradex+0.025%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.025% dearer against Paradex than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BZ-USD-PERP	97.786	0.0050	pay 0.0050% / 8h	1h 52m	$3K	$336	5x
Short	Hotstuff BRENTOIL-PERP	97.810	−0.0008	pay 0.0001% / 1h	52m 17s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$12.18
Price spread: +0.025% → 0.000%: $2.5
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$18.68
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Hotstuff: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Paradex and Hotstuff: 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	96.817	−0.991%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.261%	$235K	$416K	15x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0008%	1h	97.810	+0.025%	$34K	—	20x
Aster BZUSDT	0.0000%	4h	97.797	+0.012%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.800	+0.015%	$147.8M	$353.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.790	+0.005%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.780	−0.006%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.759	−0.027%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.750	−0.036%	$9.3M	$10.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.800	+0.015%	$27.9M	$17.4M	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	97.658	−0.131%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.670	−0.118%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.810	+0.025%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.780	−0.006%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.770	−0.016%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.770	−0.016%	$1.2M	$80K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.338	+0.565%	—	—	—	as long as short
Vest BZ-PERP	+0.0013%	1h	101.88	+4.187%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0015%	4h	97.800	+0.015%	$1.5M	$98K	50x	as long as short
edgeX BZUSDC	+0.0020%	4h	97.655	−0.134%	$225K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.790	+0.005%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.792	+0.007%	$678K	$3.5M	10x	as long as short
Paradex BZ-USD-PERPlong	+0.0050%	8h	97.786	long leg	$3K	$336	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.812	+0.027%	$154.9M	$118.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.834	+0.050%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.730	−0.057%	$3.1M	$996K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	97.728	−0.059%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.810	+0.025%	$3.8M	$830K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.740	−0.047%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.795	+0.010%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.795	+0.010%	$116K	—	111x	as long as short