BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0226%/8h= −24.7% APRnext payment −$0.28 per $10,000 · paid last 24h −0.010%

Price spread now: Deribit against RISEx−0.080%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on RISEx Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.560%−$56 on $10k

Price spread, last 4 days (all we have)−0.229%−$23 · spread now −0.080%, 7d avg −0.018%

Together, before fees−0.788%−$79 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Deribit is 0.062% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BZ/USDC	97.228	−0.0039	get 0.0005% / 1h	34m 22s	$2.4M	$1.8M	20x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.150	−0.0264	pay 0.0033% / 1h	34m 22s	$100K	$263K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against RISEx. 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 RISExbpFee DeribitbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$47.43
Price spread: −0.080% → −0.018%: −$6.16
Slippage, 4 orders: −$6.22
Fee RISEx: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.81
Costs to cover: 0.192%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Deribit: live order book, 64 min ago.

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 RISEx live order book, 4 min ago	0.56 bp	3.6 bp −$4	4.2 bp −$42	doesn't fit	doesn't fit
Sell Deribit live order book, 64 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit

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
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0264%	1h	97.150	−0.080%	$100K	$263K	15x
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.911%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0076%	1h	97.130	−0.101%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.259%	$237K	$401K	15x	as long as short
RISEx BZ/USDClong	−0.0039%	1h	97.228	long leg	$2.4M	$1.8M	20x
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.324	+0.099%	$82K	$197K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.280	+0.054%	$338K	$735K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.207	−0.021%	$148.6M	$353.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.130	−0.101%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.150	−0.080%	$16.1M	$19.9M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.180	−0.049%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.210	−0.018%	$28.0M	$18.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.329	+0.104%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.354	+0.130%	$13K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.190	−0.039%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.360	+0.136%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.360	+0.136%	$1.2M	$83K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.420	+0.198%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.21	+4.096%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.872	+0.663%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.354	+0.130%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.240	+0.013%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.266	+0.040%	$753K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	97.247	+0.020%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.263	+0.036%	$155.4M	$115.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.250	+0.023%	$1.6M	$344K	20x	as long as short
BloFin BZ-USDT	+0.0057%	4h	97.310	+0.085%	$1.5M	$100K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0072%	1h	97.379	+0.155%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.280	+0.054%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.380	+0.156%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.225	−0.003%	$115K	—	111x	as long as short