Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.020%

Price spread now: BloFin against tradeXYZ+0.016%7-day average −0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)−0.456%−$46 · spread now +0.016%, 7d avg −0.087%

Together, before fees−0.556%+ Points / potential airdroptradeXYZ: Active · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.103% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.087%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	97.144	0.0050	pay 0.0006% / 1h	1m 01s	$152.3M	$125.1M	20x
Short	BloFin BZ-USDT	97.160	−0.0028	pay 0.0014% / 4h	1h 01m	$1.5M	$91K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$16.35
Price spread: +0.016% → −0.087%: $10.34
Slippage, 4 orders: −$3.31
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$39.31
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; BloFin: live order book, 2 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 tradeXYZ live order book, 9 min ago	0.21 bp	9.3 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.51 bp	7.9 bp −$8	9.3 bp −$93	17.1 bp −$1,711	doesn't fit

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	96.141	−1.032%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.159%	$234K	$433K	15x	as long as short
BloFin BZ-USDTshort	−0.0028%	4h	97.160	+0.016%	$1.5M	$91K	50x
Aster BZUSDT	0.0000%	4h	97.134	−0.011%	$337K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.180	+0.037%	$147.0M	$372.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.170	+0.027%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.160	+0.016%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.150	+0.006%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.160	+0.016%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.120	−0.025%	$9.2M	$12.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.130	−0.014%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.125	−0.019%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.162	+0.018%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.190	+0.047%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.140	−0.004%	$104K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.130	−0.014%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.150	+0.006%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.092	−0.054%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.684	+0.556%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.140	−0.004%	$3.3M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.140	−0.004%	$675K	$4.6M	10x	as long as short
Vest BZ-PERP	+0.0039%	1h	101.21	+4.186%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.152	+0.008%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	97.144	long leg	$152.3M	$125.1M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.218	+0.076%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.130	−0.014%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.160	+0.016%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.130	−0.014%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0119%	1h	97.145	+0.001%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0187% / S +0.0020%	1h	97.145	+0.001%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.166	+0.023%	$84K	$218K	20x	as long as short