BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0203%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h −0.001%

Price spread now: Deribit against Coinbase International−0.382%7-day average +0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.179%−$18 on $10k

Price spread, last 4 days (all we have)+0.426%+$43 · spread now −0.382%, 7d avg +0.115%

Together, before fees+0.248%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.497% cheaper against Coinbase International than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.115%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	94.150	−0.0080	get 0.0010% / 1h	3m 58s	$246K	$1.0M	15x
Short	Deribit BRENTOIL_USDC-PERPETUAL	93.790	−0.0283	pay 0.0035% / 1h	3m 58s	$29K	$389K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.382%Rate

Funding earned: −$42.59
Price spread: −0.382% → +0.115%: −$49.74
Slippage, 4 orders: −$9.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$118.73
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Deribit: live order book, 43 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, 2 min ago	1.60 bp	8.6 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell Deribit live order book, 43 min ago	0.53 bp	6.1 bp −$6	6.3 bp −$63	doesn't fit	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	93.740	−0.435%	$32K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0343%	1h	93.781	−0.392%	$105K	$275K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	93.768	−0.406%	$2.2M	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0283%	1h	93.790	−0.382%	$29K	$389K	15x
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.729%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0080%	1h	94.150	long leg	$246K	$1.0M	15x
Bybit BZUSDT	−0.0052%	8h	93.810	−0.361%	$10.5M	$17.2M	100x	as long as short
Binance BZUSDT	−0.0015%	4h	93.830	−0.340%	$144.1M	$466.5M	100x	as long as short
GRVT BZ_USDT_Perp	−0.0010%	4h	93.979	−0.181%	$15K	$307K	25x	as long as short
edgeX BZUSDC	−0.0003%	4h	93.784	−0.388%	$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
Aster BZUSDT	0.0000%	4h	93.833	−0.337%	$322K	$636K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	93.820	−0.351%	$15.7M	$28.3M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	93.780	−0.393%	$8.7M	$13.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	93.840	−0.329%	$27.2M	$30.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.680	−0.499%	$8.9M	$6.6M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	93.820	−0.351%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.700	−0.478%	$240K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.080	−0.074%	$1.2M	$91K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.319	+0.179%	—	—	—	as long as short
Aftermath Perps BRENTUSD	+0.0013%	1h	93.890	−0.277%	$7K	$37K	5x	as long as short
Vest BZ-PERP	+0.0018%	1h	97.410	+3.463%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	93.810	−0.361%	$3.4M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	93.873	−0.294%	$750K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	93.802	−0.369%	$2K	$2K	5x	as long as short
BloFin BZ-USDT	+0.0047%	4h	93.720	−0.457%	$1.5M	$122K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	93.837	−0.332%	$137.8M	$183.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	93.802	−0.370%	$1.5M	$495K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	93.780	−0.393%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	93.790	−0.382%	$3.3M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.910	−0.255%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0165% / S −0.0429%	1h	93.705	−0.473%	$22K	—	111x	as long as short