Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.010%

Price spread now: Kraken Futures against Binance+0.061%54s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.406% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.892%−$89 on $10k

Price spread, last 4 days (all we have)−0.298%−$30 · spread now +0.061%, 7d avg −0.019%

Together, before fees−1.190%−$119 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 0.080% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.019%. Mind the row above: over the last 7 days funding on this pair cost −0.892%, so the current rate has only just turned in your favour. The two prices were read 54 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	Binance BZUSDT	97.350	0	get 0.0000% / 4h	47m 28s	$149.3M	$352.4M	100x
Short	Kraken Futures PF_BRENTOILUSD	97.409	0.0113	get 0.0014% / 1h	47m 28s	$82K	$201K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.061%Rate

Funding earned: $23.7
Price spread: +0.061% → −0.019%: $8.01
Slippage, 4 orders: −$20.61
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$8.9
Costs to cover: 0.406%
Break-even: 9.6 days

Slippage from Binance: live order book, 11 min ago; Kraken Futures: live order book, 55 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 Binance live order book, 11 min ago	0.51 bp	5.5 bp −$6	6.2 bp −$62	13.0 bp −$1,305	44.4 bp −$22.2K
Sell Kraken Futures live order book, 55 min ago	4.66 bp	14.5 bp −$14	29.4 bp −$294	doesn't fit	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	97.155	−0.200%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.360%	$237K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0032%	4h	97.380	+0.031%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	97.390	+0.041%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.368	+0.019%	$339K	$860K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	97.350	long leg	$149.3M	$352.4M	100x
Bybit BZUSDT	0.0000%	8h	97.350	0.000%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	+0.021%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.340	−0.010%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.320	−0.031%	$9.2M	$10.8M	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	97.380	+0.031%	$27.9M	$18.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.526	+0.181%	$9.4M	$6.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.530	+0.185%	$18K	$329K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.420	+0.072%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.400	+0.051%	$100K	$253K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.300	−0.051%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.460	+0.113%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.533	+0.188%	$225K	$228K	20x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.46	+4.222%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.893	+0.558%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.350	0.000%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.358	+0.008%	$737K	$3.2M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0036%	1h	97.320	−0.031%	$3.1M	$1.0M	15x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.351	+0.001%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.372	+0.023%	$155.2M	$114.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.410	+0.062%	$1.6M	$462K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0085%	1h	97.511	+0.165%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	+0.031%	$3.8M	$805K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.390	+0.041%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0113%	1h	97.409	+0.061%	$82K	$201K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.355	+0.005%	$116K	—	111x	as long as short