Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against Phemex+0.261%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and gTrade (Gains Network) is 0.261% dearer against Phemex than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	97.290	0	get 0.0000% / 4h	7m 36s	$1.2M	$84K	100x
Short	gTrade (Gains Network) BRENT/USD	97.544	L +0.0011% / S −0.0011%	get 0.0001% / 1h	7m 36s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.261%Rate

Funding earned: $2.34
Price spread: +0.261% → 0.000%: $26.15
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $6.49
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; gTrade (Gains Network): 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 Phemex live order book, 5 min ago	9.24 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	96.433	−0.881%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.051%	$234K	$436K	15x	as long as short
BloFin BZ-USDT	−0.0015%	4h	97.010	−0.288%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.033	−0.265%	$337K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.980	−0.319%	$146.9M	$369.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.980	−0.319%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.990	−0.308%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.987	−0.312%	$2.2M	$1.5M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.950	−0.349%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.980	−0.319%	$27.7M	$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	97.017	−0.281%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.034	−0.263%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.030	−0.267%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.990	−0.308%	$103K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−0.308%	$278K	$268K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	97.290	long leg	$1.2M	$84K	100x
edgeX BZUSDC	+0.0011%	4h	97.016	−0.282%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USDshort	L +0.0011% / S −0.0011%	1h	97.544	+0.261%	—	—	—
Vest BZ-PERP	+0.0031%	1h	101.03	+3.844%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.000	−0.298%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.997	−0.301%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.989	−0.310%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.020	−0.278%	$153.0M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.043	−0.254%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.940	−0.360%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.040	−0.257%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.050	−0.247%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.060	−0.236%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0124%	1h	97.080	−0.216%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0143%	1h	97.024	−0.273%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0215% / S −0.0165%	1h	96.995	−0.303%	$126K	—	111x	as long as short