Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.024%

Price spread now: Kraken Futures against SunX+0.032%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$870.870% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.900%−$90 on $10k

Price spread, last 3 days (all we have)−0.133%−$13 · spread now +0.032%, 7d avg −0.007%

Together, before fees−1.033%−$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.039% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.007%. Mind the row above: over the last 7 days funding on this pair cost −0.900%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.200	0	get 0.0000% / 4h	12m 19s	$4K	$2.7M	20x
Short	Kraken Futures PF_BRENTOILUSD	96.231	0.0113	get 0.0014% / 1h	12m 19s	$83K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.032%Rate

Funding earned: $23.75
Price spread: +0.032% → −0.007%: $3.91
Slippage, 4 orders: −$68.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.29
Costs to cover: 0.870%
Break-even: 24.5 days

Slippage from SunX: live order book, 5 min ago; Kraken Futures: live order book, 65 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, 5 min ago	18.71 bp	22.7 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 65 min ago	3.17 bp	20.3 bp −$20	34.4 bp −$344	doesn't fit	doesn't fit

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 −0.0848% / S +0.0467%	1h	96.175	−0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.744%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.240	+0.042%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.135%	$232K	$534K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.183	−0.017%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.204	+0.005%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.180	−0.021%	$145.8M	$451.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.200	0.000%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.190	−0.010%	$15.8M	$26.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.140	−0.062%	$9.2M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.180	−0.021%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.181	−0.020%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.206	+0.006%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.200	long leg	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.210	+0.010%	$103K	$275K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.120	−0.083%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.170	−0.031%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	96.186	−0.015%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0030%	8h	96.187	−0.014%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0039%	4h	96.160	−0.042%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+3.742%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.227	+0.028%	$151.0M	$144.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.255	+0.057%	$1.5M	$525K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0084%	1h	96.270	+0.073%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.100	−0.104%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	+0.010%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0113%	1h	96.231	+0.032%	$83K	$234K	20x
Lighter BRENTOIL	+0.0264%	1h	96.210	+0.010%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0402%	1h	96.150	−0.052%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0552%	1h	96.134	−0.068%	$675K	$5.2M	10x	as long as short