Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0370%/8hpaid last 24h +0.017%

Price spread now: GMX against BloFin+0.016%7-day average +0.006% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.063%+$6 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.016%, 7d avg +0.006%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.063% in total (about 7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BZ-USDT	96.000	0.0056	pay 0.0028% / 4h	21m 15s	$1.5M	$96K	50x
Short	GMX BRENTOIL/USD [ETH-USDC]	96.015	L −0.0122% / S +0.0314%	pay 0.0039% / 1h	21m 15s	$109K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$77.7
Price spread: +0.016% → +0.006%: $0.93
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$100.77
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 10 min ago; GMX: no order-book sample. 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 BloFin live order book, 10 min ago	0.52 bp	7.3 bp −$7	10.4 bp −$104	21.7 bp −$2,171	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	95.676	−0.338%	$10K	$4K	30x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L −0.0122% / S +0.0314%	1h	96.015	+0.016%	$109K	—	111x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	96.400	+0.417%	$231K	$842K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0062%	1h	96.040	+0.042%	$103K	$280K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.064	+0.067%	$332K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.972	−0.030%	$145.0M	$476.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.970	−0.031%	$10.4M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.950	−0.052%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.026	+0.027%	$2.2M	$1.2M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	95.990	−0.010%	$9.1M	$18.9M	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	96.000	0.000%	$27.7M	$23.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.975	−0.027%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.070	+0.073%	$37K	$406K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.030	+0.031%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.042%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.170	+0.177%	$1.2M	$101K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.759	+0.791%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.052	+0.054%	$220K	$234K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0024%	1h	96.000	0.000%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	96.083	+0.087%	$81K	$265K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.030	+0.031%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.066	+0.069%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.12	+4.292%	—	$664K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.050	+0.052%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.063	+0.066%	$149.3M	$144.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.090	+0.094%	$1.5M	$552K	20x	as long as short
BloFin BZ-USDTlong	+0.0056%	4h	96.000	long leg	$1.5M	$96K	50x
Aftermath Perps BRENTUSD	+0.0059%	1h	96.119	+0.124%	$6K	$48K	5x	as long as short
KuCoin BZUSDTM	+0.0074%	4h	95.980	−0.021%	$3.7M	$967K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.010	+0.010%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0208%	1h	96.080	+0.083%	$33K	—	20x	as long as short