Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.023%

Price spread now: Coinbase International against SunX−0.176%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 3 days (all we have)+0.155%+$16 · spread now −0.176%, 7d avg −0.125%

Together, before fees−0.057%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Coinbase International is 0.051% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.125%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.820	0	get 0.0000% / 4h	2h 38m	$4K	$2.6M	20x
Short	Coinbase International BRENTOIL-PERP-INTX	96.650	−0.0136	pay 0.0017% / 1h	38m 05s	$234K	$421K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$28.56
Price spread: −0.176% → −0.125%: −$5.06
Slippage, 4 orders: −$44.35
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$95.98
Costs to cover: 0.624%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Coinbase International: live order book, 30 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 SunX live order book, 9 min ago	18.59 bp	22.6 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell Coinbase International live order book, 30 min ago	1.55 bp	6.6 bp −$7	8.8 bp −$88	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.962	−0.886%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0136%	1h	96.650	−0.176%	$234K	$421K	15x
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.062%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.820	0.000%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.824	+0.004%	$146.3M	$388.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.810	−0.010%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.800	−0.021%	$15.9M	$22.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.787	−0.035%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.770	−0.052%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.810	−0.010%	$27.6M	$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	96.790	−0.031%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.793	−0.028%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.820	long leg	$4K	$2.6M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.840	+0.021%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	−0.072%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	−0.010%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.342	+0.539%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.798	−0.023%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.810	−0.010%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.808	−0.012%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.80	+4.111%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.785	−0.036%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.832	+0.012%	$151.7M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.858	+0.039%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.700	−0.124%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.800	−0.021%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	+0.041%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.052%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0102%	1h	96.825	+0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.821	+0.001%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0273%	1h	96.810	−0.011%	$7K	$44K	5x	as long as short