Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Binance against Phemex−0.004%7-day average −0.172% · you buy dearer than you sell

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

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.421%−$42 on $10k

Price spread, last 4 days (all we have)−0.164%−$16 · spread now −0.004%, 7d avg −0.172%

Together, before fees−0.585%−$58 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.169% dearer against Phemex than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.172%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	97.440	0	get 0.0000% / 4h	8m 57s	$1.2M	$86K	100x
Short	Binance BZUSDT	97.436	0	get 0.0000% / 4h	8m 57s	$148.6M	$351.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.172%: $16.86
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$5.14
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Binance: 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 Phemex live order book, 4 min ago	2.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.51 bp	5.5 bp −$6	6.1 bp −$61	10.8 bp −$1,075	44.4 bp −$22.2K

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	96.342	−1.127%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0161%	1h	97.390	−0.051%	$100K	$256K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	−0.339%	$236K	$401K	15x	as long as short
Ondo Perps BRENT-USD.P	−0.0010%	1h	97.140	−0.308%	$3.1M	$999K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.470	+0.031%	$339K	$860K	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	97.436	−0.004%	$148.6M	$351.0M	100x
Bybit BZUSDT	0.0000%	8h	97.420	−0.021%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.410	−0.031%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.254	−0.191%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.380	−0.062%	$9.2M	$11.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.480	+0.041%	$27.9M	$18.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.183	−0.264%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.187	−0.259%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	−0.164%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.070	−0.380%	$279K	$254K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	97.440	long leg	$1.2M	$86K	100x
Vest BZ-PERP	+0.0010%	1h	101.35	+4.013%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.952	+0.526%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.166	−0.281%	$223K	$228K	20x	as long as short
BloFin BZ-USDT	+0.0022%	4h	97.410	−0.031%	$1.5M	$99K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.460	+0.021%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.468	+0.028%	$737K	$2.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.266	−0.179%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.490	+0.051%	$155.8M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.349	−0.093%	$1.6M	$398K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.173	−0.274%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.440	0.000%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	−0.216%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.360	−0.082%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0120%	1h	97.320	−0.123%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.345	−0.097%	$116K	—	111x	as long as short