Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.5% APRpaid last 24h +0.010%

Price spread now: Hotstuff against SunX−0.031%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Hotstuff is 0.031% cheaper against SunX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	95.840	0	get 0.0000% / 4h	1h 45m	$4K	$2.7M	20x
Short	Hotstuff BRENTOIL-PERP	95.810	−0.0352	pay 0.0044% / 1h	45m 47s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$73.92
Price spread: −0.031% → 0.000%: −$3.13
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$90.05
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 1 min ago; Hotstuff: 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, 1 min ago	18.78 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0762% / S +0.0137%	1h	95.835	−0.005%	$114K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0562%	1h	95.800	−0.042%	$3.0M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0352%	1h	95.810	−0.031%	$33K	—	20x
Injective BRENT/USDC PERP	−0.0220%	1h	95.248	−0.618%	$8K	$7K	30x	as long as short
Lighter BRENTOIL	−0.0128%	1h	95.840	0.000%	$3.3M	$4.2M	20x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0087%	1h	95.820	−0.021%	$147.4M	$146.9M	20x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.825	−0.016%	$2.2M	$1.3M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0042%	4h	95.760	−0.083%	$34K	$396K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.219%	$232K	$676K	15x	as long as short
Paradex BZ-USD-PERP	−0.0014%	8h	95.814	−0.027%	$3K	$521	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	95.849	+0.010%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.820	−0.021%	$145.3M	$482.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.820	−0.021%	$10.2M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.820	−0.021%	$15.8M	$27.7M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.790	−0.052%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.830	−0.010%	$27.4M	$22.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.737	−0.108%	$9.2M	$9.2M	—	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	95.840	long leg	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.880	+0.042%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.790	−0.052%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.890	+0.052%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	95.735	−0.109%	$219K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0011%	1h	95.811	−0.030%	$5K	$45K	5x	as long as short
Extended XBR-USD	+0.0032%	1h	95.897	+0.060%	$670K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.03	+4.372%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.872	+0.033%	$1.5M	$529K	20x	as long as short
BloFin BZ-USDT	+0.0054%	4h	95.840	0.000%	$1.5M	$95K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.840	0.000%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.830	−0.010%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0556%	1h	95.851	+0.012%	$81K	$244K	20x	as long as short