data as of
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Price arb /

BZ

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Spread before costs (cost unknown: a leg has no order-book sample)+0.976%
7d average+0.211%if it closes, per $10,000$98funding while held, a day+$58.84
Long on BinanceShort on Phemex
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance BZUSDT95.924−0.0016get 0.0008% / 4h1h 25m$147.7M$405.4M100x
ShortPhemex XBRUSDT96.8600.1945get 0.0973% / 4h1h 25m$1.2M$86K100x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$97.57
Funding while held
$58.84
Slippage, 4 orders
no order book: not counted
Fee Binance: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
$134.4
Spread needed to break even
0.220%
Slippage unknown: Binance: live order book, 5 min ago; Phemex: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.1961%
Per $10,000 a day
+$58.84
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 5 min ago0.52 bp5.5 bp −$65.5 bp −$556.4 bp −$6436.6 bp −$3,289
Sell Phemex live order book, 4 min ago0.51 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

BZ price on every exchange

against the cheapest. Click to use as the short leg.
Injective86.638cheapest
edgeX95.791+10.564%Ondo Perps95.860+10.644%OKX95.890+10.679%Gate95.890+10.679%Aster95.893+10.683%Lighter95.900+10.690%Bybit95.900+10.690%RISEx95.907+10.698%BloFin95.910+10.702%Paradex95.914+10.706%
Binance95.924+10.718%
GMX95.925+10.719%Bitget95.930+10.725%Deribit95.930+10.725%Kraken Futures95.941+10.738%Extended95.942+10.739%tradeXYZ95.950+10.748%SunX95.950+10.748%Hotstuff95.960+10.760%KuCoin95.970+10.771%Polymarket Perps95.970+10.771%HTX95.990+10.794%Aftermath Perps96.008+10.816%Variational Omni96.031+10.842%ApeX Omni96.090+10.910%Coinbase International96.560+11.452%gTrade (Gains Network)96.610+11.510%
Phemex96.860+11.799%
Vest99.390+14.719%

BZ on 30 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective BRENT/USDC PERP−9.681%−0.0220%1h$13K$9730xas long as short
edgeX BZUSDC−0.139%−0.0002%4h$219K$235K20xas long as short
Ondo Perps BRENT-USD.P−0.067%+0.0050%1h$3.0M$911K15xas long as short
OKX BZ-USDT-SWAP−0.036%0.0000%4h$16.4M$29.2M50xas long as short
Gate BZ_USDT−0.036%0.0000%8h$9.3M$17.1M100xas long as short
Aster BZUSDT−0.032%−0.0016%4h$337K$1.5M50xas long as short
Lighter BRENTOIL−0.025%+0.0032%1h$3.3M$3.7M20xas long as short
Bybit BZUSDT−0.025%0.0000%8h$10.9M$14.3M100xas long as short
RISEx BZ/USDC−0.018%−0.0016%1h$2.3M$456K20xas long as short
BloFin BZ-USDT−0.015%+0.0001%4h$1.6M$62K50xas long as short
Show all 30 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Paradex BZ-USD-PERP−0.011%+0.0044%8h$3K$2825xas long as short
Binance BZUSDTlong0.000%−0.0016%4h$147.7M$405.4M100x
GMX BRENTOIL/USD [ETH-USDC]+0.001%L +0.0052% / S +0.0046%1h$43K—111xas long as short
Bitget BZUSDT+0.006%0.0000%4h$28.4M$19.2M100xas long as short
Deribit BRENTOIL_USDC-PERPETUAL+0.006%−0.0063%1h$103K$239K15xas long as short
Kraken Futures PF_BRENTOILUSD+0.018%−0.0058%1h$129K$432K20xas long as short
Extended XBR-USD+0.019%+0.0032%1h$687K$5.0M10xas long as short
tradeXYZ xyz:BRENTOIL+0.027%+0.0050%1h$140.4M$112.1M20xas long as short
SunX BRENTOIL-USDT+0.027%0.0000%4h$4K$2.5M20xas long as short
Hotstuff BRENTOIL-PERP+0.037%+0.0200%1h$33K—20xas long as short
KuCoin BZUSDTM+0.048%+0.0100%4h$3.7M$874K50xas long as short
Polymarket Perps BRENTOIL-USD+0.048%+0.0050%1h$1.6M$512K20xas long as short
HTX BRENTOIL-USDT+0.069%0.0000%4h$285K$124K75xas long as short
Aftermath Perps BRENTUSD+0.088%+0.0026%1h$7K$51K5xas long as short
Variational Omni BZ+0.112%0.0000%4h$9.7M$12.1M—as long as short
ApeX Omni BZUSDT+0.173%+0.0100%1h$25K$271K50xas long as short
Coinbase International BRENTOIL-PERP-INTX+0.663%−0.0088%1h$262K$662K15xas long as short
gTrade (Gains Network) BRENT/USD+0.715%L +0.0011% / S −0.0011%1h———as long as short
Phemex XBRUSDTshort+0.976%+0.1945%4h$1.2M$86K100x
Vest BZ-PERP+3.613%−0.0123%1h—$4K10xas long as short