Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.024%

Price spread now: OKX against Coinbase International+0.207%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 3 days (all we have)−0.149%−$15 · spread now +0.207%, 7d avg +0.104%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.102% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.810	−0.0104	get 0.0013% / 1h	51m 14s	$234K	$425K	15x
Short	OKX BZ-USDT-SWAP	97.010	0	get 0.0000% / 4h	1h 51m	$15.9M	$20.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.207%Rate

Funding earned: $21.84
Price spread: +0.207% → +0.104%: $10.23
Slippage, 4 orders: −$5.04
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $7.03
Costs to cover: 0.250%
Break-even: 4.7 days

Slippage from Coinbase International: live order book, 12 min ago; OKX: live order book, 2 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	0.52 bp	6.6 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.52 bp	6.3 bp −$6	10.3 bp −$103	29.4 bp −$2,944	doesn't fit

BZ on 30 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	96.207	−0.623%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0104%	1h	96.810	long leg	$234K	$425K	15x
Aster BZUSDT	0.0000%	4h	97.040	+0.238%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.030	+0.227%	$146.7M	$375.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.020	+0.217%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	97.010	+0.207%	$15.9M	$20.8M	50x
RISEx BZ/USDC	0.0000%	1h	97.041	+0.239%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.990	+0.186%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.020	+0.217%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.939	+0.133%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.921	+0.115%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.060	+0.258%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.040	+0.238%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	+0.186%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.030	+0.227%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.569	+0.784%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.887	+0.080%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.020	+0.217%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.038	+0.235%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.09	+4.421%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.030	+0.227%	$33K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.046	+0.244%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.058	+0.256%	$152.0M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.104	+0.304%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.980	+0.176%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.090	+0.289%	$3.8M	$876K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.970	+0.165%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0062%	1h	97.025	+0.222%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0198%	1h	96.948	+0.142%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.048	+0.246%	$84K	$218K	20x	as long as short