Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.016%

Price spread now: edgeX against Deribit−0.085%75s7-day average −0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$450.450% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.423%+$42 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.085%, 7d avg −0.029%

Together, before fees+0.556%+ Points / potential airdropedgeX: Active · farm board+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.056% cheaper against Deribit than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of −0.029%). If the spread goes back, that is −$6 on $10k: about 18 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.423% in total) that is about 12 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.540	0	get 0.0000% / 1h	24m 10s	$103K	$271K	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 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 edgeXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $2.18
Price spread: −0.085% → −0.029%: −$5.55
Slippage, 4 orders: −$29.04
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$48.41
Costs to cover: 0.450%
Break-even: 162.5 days

Slippage from Deribit: 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 Deribit live order book, 49 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	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	−0.902%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.487%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.525	−0.016%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0051%	4h	96.540	0.000%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.538	−0.002%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.532	−0.008%	$145.7M	$422.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.520	−0.021%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.510	−0.031%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.512	−0.029%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.480	−0.062%	$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	−0.010%	$27.6M	$19.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.459	−0.084%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.466	−0.076%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.540	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.540	long leg	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.490	−0.052%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.520	−0.021%	$1.2M	$93K	100x	as long as short
edgeX BZUSDCshort	+0.0010%	4h	96.458	−0.085%	$221K	$232K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.056	+0.534%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.549	+0.009%	$83K	$235K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.540	0.000%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.530	−0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.532	−0.008%	$746K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0032%	1h	96.460	−0.083%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	96.518	−0.023%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.59	+4.195%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.555	+0.016%	$151.5M	$139.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.564	+0.025%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.550	+0.010%	$3.8M	$983K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.500	−0.041%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0411%	1h	96.516	−0.025%	$7K	$45K	5x	as long as short