Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: Bitget against Deribit−0.042%7-day average +0.005% · 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−$36as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.313%+$31 on $10k

Price spread, last 3 days (all we have)+0.160%+$16 · spread now −0.042%, 7d avg +0.005%

Together, before fees+0.472%+$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.046% cheaper against Deribit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.100	0	get 0.0000% / 1h	4m 07s	$103K	$279K	15x
Short	Bitget BZUSDT	96.060	0	get 0.0000% / 4h	1h 04m	$27.4M	$21.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → +0.005%: −$4.62
Slippage, 4 orders: −$12.22
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$35.84
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Deribit: live order book, 14 min ago; Bitget: live order book, 10 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 Deribit live order book, 14 min ago	0.52 bp	4.0 bp −$4	4.8 bp −$48	doesn't fit	doesn't fit
Sell Bitget live order book, 10 min ago	0.52 bp	7.5 bp −$7	11.4 bp −$114	33.4 bp −$3,335	70.6 bp −$35.3K

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.075	−0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.886%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.053	−0.049%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0064%	1h	96.080	−0.021%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0028%	4h	96.030	−0.073%	$1.5M	$95K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	−0.052%	$232K	$607K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.065	−0.037%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.093	−0.007%	$145.7M	$470.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.090	−0.010%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.080	−0.021%	$15.8M	$27.0M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.030	−0.073%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	96.060	−0.042%	$27.4M	$21.1M	100x
Variational Omni BZ	0.0000%	4h	96.022	−0.081%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.009	−0.095%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.090	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.100	long leg	$103K	$279K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.040	−0.062%	$306K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.070	−0.031%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	96.018	−0.085%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0015%	1h	96.063	−0.038%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0024%	8h	96.057	−0.044%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.060	−0.042%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.970	−0.135%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.08	+4.142%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.099	−0.001%	$147.9M	$145.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.132	+0.033%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.020	−0.083%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.090	−0.010%	$3.8M	$995K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.060	−0.042%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.117	+0.018%	$81K	$235K	20x	as long as short