Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.003%

Price spread now: Paradex against Phemex−0.276%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Paradex

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 · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.276% cheaper against Phemex than usual: you would sell low and buy high (spread −0.276% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 18 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	97.290	0	get 0.0000% / 4h	9m 46s	$1.2M	$84K	100x
Short	Paradex BZ-USD-PERP	97.021	0.0050	get 0.0050% / 8h	4h 09m	$3K	$336	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.276%Rate

Funding earned: $10.48
Price spread: −0.276% → 0.000%: −$27.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$33.13
Costs to cover: 0.160%
Break-even: 29.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Paradex: 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, 3 min ago	9.24 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0013%	4h	97.010	−0.288%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.069	−0.227%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.020	−0.278%	$146.9M	$369.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.010	−0.288%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.010	−0.288%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.016	−0.282%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.980	−0.319%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.020	−0.278%	$27.7M	$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	97.017	−0.281%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.140	−0.154%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.050	−0.247%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.030	−0.267%	$103K	$235K	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	+0.0005%	4h	97.138	−0.157%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.580	+0.298%	—	—	—	as long as short
Vest BZ-PERP	+0.0031%	1h	101.07	+3.885%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.040	−0.257%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.040	−0.257%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERPshort	+0.0050%	8h	97.021	−0.276%	$3K	$336	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.056	−0.241%	$153.1M	$126.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.083	−0.213%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.980	−0.319%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	97.090	−0.206%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.080	−0.216%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.170	−0.123%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0125%	1h	97.103	−0.192%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.071	−0.225%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0213% / S −0.0155%	1h	97.025	−0.272%	$126K	—	111x	as long as short