Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.076%

Price spread now: Binance against Coinbase International−0.052%7-day average +0.133% · you buy dearer than you sell

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.358%+$36 on $10k

Price spread, last 2 days (all we have)+0.561%+$56 · spread now −0.052%, 7d avg +0.133%

Together, before fees+0.919%+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.185% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.133%). If the spread goes back, that is −$18 on $10k: about 4.8 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	95.990	−0.0128	get 0.0016% / 1h	31m 31s	$230K	$839K	15x
Short	Binance BZUSDT	95.940	0	get 0.0000% / 4h	3h 31m	$145.6M	$480.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.052%Rate

Funding earned: $26.88
Price spread: −0.052% → +0.133%: −$18.47
Slippage, 4 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.59
Costs to cover: 0.260%
Break-even: 11.6 days

Slippage from Coinbase International: live order book, 17 min ago; Binance: live order book, 3 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 Coinbase International live order book, 17 min ago	1.04 bp	8.9 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.52 bp	5.5 bp −$6	6.1 bp −$61	10.6 bp −$1,060	52.2 bp −$26.1K

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0354% / S +0.0368%	1h	95.915	−0.078%	$114K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.293	−0.726%	$10K	$4K	30x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0130%	1h	95.968	−0.023%	$81K	$262K	20x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0128%	1h	95.990	long leg	$230K	$839K	15x
Aster BZUSDT	0.0000%	4h	95.931	−0.062%	$332K	$1.7M	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	95.940	−0.052%	$145.6M	$480.6M	100x
Bybit BZUSDT	0.0000%	8h	95.930	−0.063%	$10.3M	$16.8M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.930	−0.063%	$15.8M	$30.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.939	−0.053%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	95.940	−0.052%	$33K	—	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.910	−0.083%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.930	−0.063%	$27.6M	$23.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.916	−0.077%	$9.5M	$11.6M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.913	−0.080%	$26K	$410K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.940	−0.052%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.930	−0.063%	$102K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.820	−0.177%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.910	−0.083%	$1.2M	$100K	100x	as long as short
Ondo Perps BRENT-USD.P	+0.0005%	1h	95.890	−0.104%	$3.1M	$1.1M	15x	as long as short
edgeX BZUSDC	+0.0011%	4h	95.913	−0.080%	$219K	$235K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.622	+0.658%	—	—	—	as long as short
BloFin BZ-USDT	+0.0029%	4h	95.890	−0.104%	$1.5M	$97K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.930	−0.063%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.956	−0.035%	$670K	$5.3M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0045%	1h	95.958	−0.033%	$6K	$47K	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.03	+4.209%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	95.931	−0.062%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.951	−0.041%	$147.8M	$145.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.988	−0.002%	$1.5M	$545K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.000	+0.010%	$3.7M	$992K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.930	−0.063%	$25K	$270K	50x	as long as short