Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against SunX−0.014%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$680.685% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.014%, 7d avg +0.063%

Together, before fees+0.218%+ Points / potential airdroptradeXYZ: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.077% cheaper against SunX than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.063%). If the spread goes back, that is −$8 on $10k: about 5.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.940	0	get 0.0000% / 4h	2h 12m	$4K	$2.5M	20x
Short	tradeXYZ xyz:BRENTOIL	96.926	0.0050	get 0.0006% / 1h	12m 45s	$151.8M	$127.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.014%Rate

Funding earned: $10.5
Price spread: −0.014% → +0.063%: −$7.73
Slippage, 4 orders: −$42.48
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$65.71
Costs to cover: 0.685%
Break-even: 50.8 days

Slippage from SunX: live order book, 4 min ago; tradeXYZ: live order book, 7 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, 4 min ago	18.56 bp	22.6 bp −$23	30.6 bp −$306	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.36 bp	9.7 bp −$10	11.0 bp −$110	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.978	−0.992%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	−0.134%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0064%	1h	96.950	+0.010%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.931	−0.009%	$337K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.920	−0.021%	$146.4M	$379.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.890	−0.052%	$10.3M	$13.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.910	−0.031%	$15.9M	$21.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.916	−0.024%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.870	−0.072%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.930	−0.010%	$27.5M	$16.3M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.927	−0.013%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.956	+0.016%	$37K	$354K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.940	long leg	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.950	+0.010%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.970	+0.031%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.930	−0.010%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	96.945	+0.005%	$222K	$229K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.461	+0.538%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.930	−0.010%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.920	−0.021%	$677K	$5.0M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.00	+4.188%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.920	−0.021%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	96.926	−0.014%	$151.8M	$127.9M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.979	+0.040%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.920	−0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.990	+0.052%	$3.8M	$885K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.000	+0.062%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0209% / S +0.0081%	1h	96.915	−0.026%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0228%	1h	96.960	+0.021%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.941	+0.001%	$83K	$218K	20x	as long as short