Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.062%

Price spread now: Injective against BloFin−0.989%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 0.989% cheaper against BloFin than usual: you would sell low and buy high (−$99 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BZ-USDT	97.500	−0.0021	get 0.0011% / 4h	3h 07m	$1.5M	$97K	50x
Short	Injective BRENT/USDC PERP	96.536	−0.0220	pay 0.0028% / 1h	7m 10s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.989%Rate

Funding earned: −$41.72
Price spread: −0.989% → 0.000%: −$98.87
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$152.62
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 min ago; Injective: 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, 5 min ago	0.51 bp	7.3 bp −$7	8.4 bp −$84	13.9 bp −$1,393	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	96.536	−0.989%	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.460	−0.041%	$237K	$443K	15x	as long as short
BloFin BZ-USDTlong	−0.0021%	4h	97.500	long leg	$1.5M	$97K	50x
Aster BZUSDT	0.0000%	4h	97.475	−0.025%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.490	−0.010%	$147.4M	$367.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.480	−0.021%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.490	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.468	−0.032%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.470	−0.031%	$28.0M	$16.6M	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	97.457	−0.044%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.481	−0.019%	$26K	$314K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.490	−0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.480	−0.021%	$102K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.440	−0.062%	$280K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.540	+0.041%	$1.2M	$82K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.467	−0.034%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.039	+0.553%	—	—	—	as long as short
Vest BZ-PERP	+0.0024%	1h	101.55	+4.154%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.490	−0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.497	−0.003%	$680K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.483	−0.017%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.497	−0.003%	$153.8M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.526	+0.027%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.440	−0.062%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.489	−0.011%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0081%	1h	97.448	−0.053%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	97.500	0.000%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.560	+0.062%	$3.8M	$849K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.490	−0.010%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0274% / S −0.1752%	1h	97.495	−0.005%	$115K	—	111x	as long as short