Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.024%

Price spread now: edgeX against Coinbase International+0.404%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 3 days (all we have)−0.340%−$34 · spread now +0.404%, 7d avg +0.087%

Together, before fees−0.067%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and edgeX is 0.318% dearer against Coinbase International than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.070	−0.0136	get 0.0017% / 1h	24m 23s	$232K	$468K	15x
Short	edgeX BZUSDC	96.458	0.0010	get 0.0005% / 4h	3h 24m	$221K	$232K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.404%Rate

Funding earned: $30.74
Price spread: +0.404% → +0.087%: $31.75
Slippage, 4 orders: −$24.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $19.39
Costs to cover: 0.431%
Break-even: 2.6 days

Slippage from Coinbase International: live order book, 49 min ago; edgeX: live order book, 48 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, 49 min ago	1.56 bp	6.7 bp −$7	9.2 bp −$92	doesn't fit	doesn't fit
Sell edgeX live order book, 48 min ago	10.40 bp	14.9 bp −$15	16.1 bp −$161	59.7 bp −$5,969	doesn't fit

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	95.669	−0.417%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0136%	1h	96.070	long leg	$232K	$468K	15x
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.525	+0.474%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0051%	4h	96.540	+0.489%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.539	+0.488%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.531	+0.480%	$145.7M	$422.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.520	+0.468%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.510	+0.458%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.512	+0.460%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.480	+0.427%	$9.2M	$14.3M	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	96.530	+0.479%	$27.6M	$19.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.459	+0.405%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.466	+0.413%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.550	+0.500%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.540	+0.489%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.490	+0.437%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.530	+0.479%	$1.2M	$93K	100x	as long as short
edgeX BZUSDCshort	+0.0010%	4h	96.458	+0.404%	$221K	$232K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.056	+1.026%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.553	+0.503%	$83K	$235K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.540	+0.489%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.520	+0.468%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.528	+0.476%	$749K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0032%	1h	96.460	+0.406%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	96.518	+0.466%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.59	+4.705%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.555	+0.505%	$151.5M	$139.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.564	+0.514%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.550	+0.500%	$3.8M	$984K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.500	+0.448%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0411%	1h	96.516	+0.464%	$7K	$45K	5x	as long as short