Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.054%

Price spread now: KuCoin against Coinbase International−0.144%7-day average +0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.415%+$41 on $10k

Price spread, last 4 days (all we have)+0.437%+$44 · spread now −0.144%, 7d avg +0.126%

Together, before fees+0.852%+$85 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.270% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.144% now, against its 7-day average of +0.126%). If the spread goes back, that is −$27 on $10k: about 5.8 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.240	−0.0056	get 0.0007% / 1h	20m 40s	$237K	$410K	15x
Short	KuCoin BZUSDTM	97.100	0.0100	get 0.0050% / 4h	3h 20m	$3.8M	$787K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.144%Rate

Funding earned: $32.76
Price spread: −0.144% → +0.126%: −$26.98
Slippage, 4 orders: −$23.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$39.55
Costs to cover: 0.453%
Break-even: 15.5 days

Slippage from Coinbase International: live order book, 12 min ago; KuCoin: live order book, 7 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, 12 min ago	1.03 bp	8.8 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	1.03 bp	15.8 bp −$16	43.1 bp −$431	doesn't fit	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0265%	1h	97.080	−0.165%	$100K	$267K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.923%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0087%	1h	96.980	−0.267%	$3.1M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0064%	4h	97.181	−0.061%	$13K	$340K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0056%	1h	97.240	long leg	$237K	$410K	15x
RISEx BZ/USDC	−0.0039%	1h	97.077	−0.168%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.089	−0.155%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.095	−0.149%	$336K	$707K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.103	−0.141%	$148.0M	$357.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.100	−0.144%	$10.2M	$13.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	97.080	−0.165%	$16.2M	$20.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.040	−0.206%	$9.2M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.120	−0.123%	$27.9M	$19.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.031	−0.215%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.090	−0.154%	$4K	$2.3M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	−0.165%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.160	−0.082%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	100.98	+3.846%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.706	+0.479%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.177	−0.065%	$224K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.100	−0.144%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.123	−0.120%	$749K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	97.114	−0.129%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.140	−0.103%	$154.5M	$116.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.105	−0.139%	$1.6M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0059%	1h	97.268	+0.029%	$7K	$39K	5x	as long as short
BloFin BZ-USDT	+0.0060%	4h	97.040	−0.206%	$1.5M	$101K	50x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	97.100	−0.144%	$3.8M	$787K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.220	−0.021%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0160%	1h	97.100	−0.144%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0327% / S −0.2771%	1h	97.055	−0.190%	$115K	—	111x	as long as short