Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0311%/8hpaid last 24h +0.036%

Price spread now: GMX against SunX−0.005%7-day average −0.022% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.005%, 7d avg −0.022%

Together, before fees+0.083%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.093%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.093% in total (about 11.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.010	0	get 0.0000% / 4h	23m 40s	$4K	$2.7M	20x
Short	GMX BRENTOIL/USD [ETH-USDC]	96.005	L −0.0108% / S +0.0311%	pay 0.0039% / 1h	23m 40s	$109K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$65.34
Price spread: −0.005% → −0.022%: $1.64
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$83.7
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; GMX: 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 SunX live order book, 8 min ago	18.73 bp	22.7 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	95.676	−0.348%	$10K	$4K	30x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L −0.0108% / S +0.0311%	1h	96.005	−0.005%	$109K	—	111x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	96.400	+0.406%	$231K	$842K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.083	+0.076%	$332K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.060	+0.052%	$145.2M	$476.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.060	+0.052%	$10.4M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.050	+0.042%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.011	+0.001%	$2.1M	$1.2M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.010	0.000%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.050	+0.042%	$27.7M	$23.0M	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	95.975	−0.037%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.010	0.000%	$37K	$406K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.010	long leg	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	+0.021%	$102K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.052%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.190	+0.187%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.975	−0.036%	$220K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.747	+0.768%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	95.989	−0.022%	$81K	$265K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0028%	1h	96.000	−0.010%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.060	+0.052%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.090	+0.083%	$672K	$5.2M	10x	as long as short
BloFin BZ-USDT	+0.0039%	4h	95.960	−0.052%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.10	+4.260%	—	$664K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.056	+0.048%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.084	+0.077%	$149.5M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.070	+0.062%	$1.5M	$552K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0064%	1h	96.111	+0.105%	$6K	$48K	5x	as long as short
KuCoin BZUSDTM	+0.0076%	4h	96.020	+0.010%	$3.7M	$967K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	96.020	+0.010%	$33K	—	20x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.080	+0.073%	$25K	$271K	50x	as long as short