Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.018%

Price spread now: edgeX against Vest−4.002%63s7-day average −3.288% · you buy dearer than you sell

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

Long on Vest Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.115%+$11 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now −4.002%, 7d avg −3.288%

Together, before fees+0.241%+ Points / potential airdropVest: Active · edgeX: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.714% cheaper against Vest than usual: you would sell low and buy high (−$71 if the spread goes back to its 7-day average of −3.288%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.115%, so the current rate has only just turned against you. The two prices were read 63 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	Vest BZ-PERP	101.06	0.0031	pay 0.0004% / 1h	8m 14s	—	$735K	10x
Short	edgeX BZUSDC	97.016	0.0011	get 0.0005% / 4h	8m 14s	$222K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Vest. 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 VestbpFee edgeXbpOrdersPrice spread, now −4.002%Rate

Funding earned: −$4.22
Price spread: −4.002% → −3.288%: −$71.38
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$86.6
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 49 min ago. 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 Vest no order-book sample	—	—	—	—	—
Sell edgeX live order book, 49 min ago	10.27 bp	14.8 bp −$15	16.7 bp −$167	70.9 bp −$7,092	doesn't fit

Vest: 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
Injective BRENT/USDC PERP	−0.0220%	1h	96.433	−4.578%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−3.780%	$234K	$436K	15x	as long as short
BloFin BZ-USDT	−0.0015%	4h	97.010	−4.008%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.048	−3.970%	$337K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.990	−4.027%	$146.9M	$369.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.010	−4.008%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.990	−4.027%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.000	−4.017%	$2.2M	$1.5M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.970	−4.047%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.990	−4.027%	$27.7M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.017	−4.001%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.034	−3.983%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.030	−3.988%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.990	−4.027%	$103K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−4.027%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.290	−3.730%	$1.2M	$84K	100x	as long as short
edgeX BZUSDCshort	+0.0011%	4h	97.016	−4.002%	$222K	$227K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.544	−3.479%	—	—	—	as long as short
Vest BZ-PERPlong	+0.0031%	1h	101.06	long leg	—	$735K	10x
Lighter BRENTOIL	+0.0032%	1h	96.990	−4.027%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.001	−4.016%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.003	−4.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.041	−3.977%	$153.1M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.060	−3.958%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.960	−4.057%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.050	−3.968%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.050	−3.968%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.060	−3.958%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0124%	1h	97.080	−3.939%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0143%	1h	97.024	−3.994%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0215% / S −0.0165%	1h	96.995	−4.022%	$126K	—	111x	as long as short