Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.024%

Price spread now: Bitget against Coinbase International−0.191%7-day average +0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 4 days (all we have)+0.353%+$35 · spread now −0.191%, 7d avg +0.114%

Together, before fees+0.554%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.305% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.191% now, against its 7-day average of +0.114%). If the spread goes back, that is −$31 on $10k: about 13 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	94.010	−0.0080	get 0.0010% / 1h	50m 43s	$245K	$1.0M	15x
Short	Bitget BZUSDT	93.830	0	get 0.0000% / 4h	1h 50m	$27.7M	$30.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.191%Rate

Funding earned: $16.8
Price spread: −0.191% → +0.114%: −$30.51
Slippage, 4 orders: −$9.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$45.51
Costs to cover: 0.318%
Break-even: 26.0 days

Slippage from Coinbase International: live order book, 1 min ago; Bitget: live order book, 1 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, 1 min ago	1.60 bp	8.6 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.07 bp	9.1 bp −$9	11.6 bp −$116	29.6 bp −$2,960	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.290	+0.298%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0708%	1h	93.870	−0.149%	$45K	$374K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0343%	1h	93.876	−0.142%	$94K	$264K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	93.888	−0.130%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.879%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0093%	8h	93.830	−0.191%	$10.7M	$16.8M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0080%	1h	94.010	long leg	$245K	$1.0M	15x
GRVT BZ_USDT_Perp	−0.0076%	4h	94.133	+0.131%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0031%	4h	93.810	−0.213%	$144.9M	$466.2M	100x	as long as short
edgeX BZUSDC	−0.0007%	4h	94.025	+0.016%	$216K	$231K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:BRENTOIL	−0.0005%	1h	93.821	−0.201%	$128.9M	$182.9M	20x	as long as short
Lighter BRENTOIL	0.0000%	1h	93.780	−0.245%	$3.4M	$5.6M	20x	as long as short
Aster BZUSDT	0.0000%	4h	93.830	−0.191%	$338K	$822K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	93.830	−0.191%	$15.7M	$28.4M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	93.790	−0.234%	$8.8M	$12.6M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	93.830	−0.191%	$27.7M	$30.1M	100x
Variational Omni BZ	0.0000%	4h	94.001	−0.010%	$9.0M	$6.6M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	93.910	−0.106%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.970	−0.043%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.270	+0.277%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	93.890	−0.128%	$1.5M	$110K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.672	+0.704%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.620	+3.840%	—	$736K	10x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	93.950	−0.064%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0030%	1h	94.188	+0.189%	$7K	$38K	5x	as long as short
Extended XBR-USD	+0.0032%	1h	93.843	−0.178%	$748K	$3.8M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0039%	1h	93.990	−0.021%	$3.0M	$1.1M	15x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	93.895	−0.122%	$1.5M	$487K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	93.830	−0.191%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.170	+0.170%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.005	−0.005%	$32K	—	111x	as long as short