Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h −0.028%

Price spread now: Vest against Phemex+4.242%7-day average +2.963% · you sell dearer than you buy

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

Long on Phemex Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.412%−$41 on $10k

Price spread, last 4 days (all we have)−0.761%−$76 · spread now +4.242%, 7d avg +2.963%

Together, before fees−1.173%+ Points / potential airdropVest: Active · farm board−$117 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Vest is 1.280% dearer against Phemex than usual: you sell high and buy low: +$128 more if the spread goes back to its 7-day average of +2.963%. Mind the row above: over the last 3 days funding on this pair cost −0.412%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	97.590	0	get 0.0000% / 4h	2h 09m	$1.2M	$80K	100x
Short	Vest BZ-PERP	101.73	0.0015	get 0.0002% / 1h	9m 44s	—	$735K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +4.242%Rate

Funding earned: $3.12
Price spread: +4.242% → +2.963%: $127.96
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: $117.09
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Phemex: live order book, 3 min ago; Vest: 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	0.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	96.939	−0.667%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.061%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0041%	4h	97.680	+0.092%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0024%	1h	97.720	+0.133%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.581	−0.010%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.570	−0.020%	$147.6M	$358.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.570	−0.020%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.580	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.661	+0.073%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.530	−0.061%	$9.3M	$11.7M	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	97.560	−0.031%	$27.7M	$17.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.668	+0.080%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.656	+0.068%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.720	+0.133%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.600	+0.010%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.660	+0.072%	$280K	$253K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	97.590	long leg	$1.2M	$80K	100x
edgeX BZUSDC	+0.0004%	4h	97.667	+0.078%	$225K	$227K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.649	+0.060%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.171	+0.595%	—	—	—	as long as short
Vest BZ-PERPshort	+0.0015%	1h	101.73	+4.242%	—	$735K	10x
Lighter BRENTOIL	+0.0032%	1h	97.570	−0.020%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.574	−0.016%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.575	−0.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.571	−0.019%	$154.3M	$122.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.710	+0.123%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.520	−0.072%	$3.1M	$998K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	97.679	+0.091%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.590	0.000%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.710	+0.123%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.635	+0.046%	$116K	—	111x	as long as short