Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.013%

Price spread now: SunX against Deribit+0.051%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.321%+$32 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.051%, 7d avg +0.007%

Together, before fees+0.283%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.044% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.370	−0.0058	get 0.0007% / 1h	43m 13s	$104K	$242K	15x
Short	SunX BRENTOIL-USDT	97.420	0	get 0.0000% / 4h	3h 43m	$4K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $12.18
Price spread: +0.051% → +0.007%: $4.4
Slippage, 4 orders: −$45.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$44.36
Costs to cover: 0.609%
Break-even: 32.5 days

Slippage from Deribit: live order book, 10 min ago; SunX: 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, 10 min ago	0.51 bp	8.1 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	18.48 bp	26.4 bp −$26	36.9 bp −$369	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.333	−1.065%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.103%	$233K	$439K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	−0.0058%	1h	97.370	long leg	$104K	$242K	15x
BloFin BZ-USDT	−0.0051%	4h	97.370	0.000%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.363	−0.007%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.367	−0.003%	$147.5M	$368.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.380	+0.010%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.380	+0.010%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.388	+0.018%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.390	+0.021%	$34K	—	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.330	−0.041%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.400	+0.031%	$27.9M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.348	−0.023%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.370	0.000%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	97.420	+0.051%	$4K	$2.5M	20x
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.051%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	+0.021%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.375	+0.005%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.913	+0.558%	—	—	—	as long as short
Vest BZ-PERP	+0.0030%	1h	101.44	+4.180%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.380	+0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.388	+0.019%	$677K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.392	+0.023%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.394	+0.025%	$153.6M	$126.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.436	+0.068%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.350	−0.021%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.382	+0.012%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.420	+0.051%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	−0.010%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.343	−0.028%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0236% / S −0.0309%	1h	97.355	−0.015%	$126K	—	111x	as long as short