Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against SunX−0.811%61s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.811% cheaper against SunX than usual: you would sell low and buy high (−$81 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.130	0	get 0.0000% / 4h	3h 21m	$4K	$2.3M	20x
Short	Injective BRENT/USDC PERP	96.342	−0.0220	pay 0.0028% / 1h	21m 26s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.811%Rate

Funding earned: −$46.2
Price spread: −0.811% → 0.000%: −$81.13
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$135.35
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Injective: 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, 6 min ago	18.49 bp	22.5 bp −$22	30.5 bp −$305	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.150	+0.021%	$100K	$266K	15x	as long as short
Injective BRENT/USDC PERPshort	−0.0220%	1h	96.342	−0.811%	$8K	$7K	30x
Ondo Perps BRENT-USD.P	−0.0084%	1h	96.990	−0.144%	$3.1M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0064%	4h	97.181	+0.052%	$13K	$340K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.240	+0.113%	$237K	$410K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.077	−0.055%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.141	+0.011%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.061	−0.071%	$336K	$707K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.070	−0.062%	$147.9M	$358.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.070	−0.062%	$10.2M	$13.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	97.070	−0.062%	$16.2M	$20.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.010	−0.124%	$9.2M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.080	−0.051%	$27.9M	$19.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.246	+0.119%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.130	long leg	$4K	$2.3M	20x
HTX BRENTOIL-USDT	0.0000%	4h	97.080	−0.051%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.220	+0.093%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	100.98	+3.964%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.706	+0.593%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.177	+0.049%	$224K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.060	−0.072%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.110	−0.021%	$749K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0044%	8h	97.073	−0.059%	$2K	$1K	5x	as long as short
BloFin BZ-USDT	+0.0047%	4h	97.220	+0.093%	$1.5M	$101K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.099	−0.032%	$154.4M	$116.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.105	−0.026%	$1.6M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0059%	1h	97.268	+0.142%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.100	−0.031%	$3.8M	$787K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	+0.093%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0160%	1h	97.100	−0.031%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.235	+0.108%	$115K	—	111x	as long as short