Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Gate against Deribit−0.051%7-day average −0.062% · 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−$34as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.272%+$27 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.051%, 7d avg −0.062%

Together, before fees+0.360%+$36 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.490	0	get 0.0000% / 1h	49m 38s	$101K	$249K	15x
Short	Gate BZ_USDT	97.440	0	get 0.0000% / 8h	2h 49m	$9.2M	$11.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → −0.062%: $1.06
Slippage, 4 orders: −$12.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$33.72
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Deribit: live order book, 64 min ago; Gate: live order book, 4 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, 64 min ago	0.51 bp	8.1 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.03 bp	13.2 bp −$13	20.1 bp −$201	32.5 bp −$3,248	44.6 bp −$22.3K

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	96.684	−0.827%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.460	−0.031%	$237K	$443K	15x	as long as short
BloFin BZ-USDT	−0.0030%	4h	97.510	+0.021%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.454	−0.037%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.470	−0.021%	$147.5M	$364.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.460	−0.031%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.480	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.490	0.000%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	97.440	−0.051%	$9.2M	$11.6M	100x
Bitget BZUSDT	0.0000%	4h	97.470	−0.021%	$28.0M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.488	−0.002%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.497	+0.007%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.530	+0.041%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.490	long leg	$101K	$249K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.450	−0.041%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.021%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.457	−0.034%	$224K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.498	+0.009%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.039	+0.563%	—	—	—	as long as short
Vest BZ-PERP	+0.0020%	1h	101.57	+4.185%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.470	−0.021%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.477	−0.014%	$680K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.472	−0.019%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.480	−0.010%	$153.7M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.524	+0.035%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.450	−0.041%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0058%	1h	97.483	−0.007%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	97.520	+0.031%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.520	+0.031%	$3.8M	$837K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.500	+0.010%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0292% / S −0.2129%	1h	97.495	+0.005%	$115K	—	111x	as long as short