Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.027%

Price spread now: Coinbase International against edgeX−0.268%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now −0.268%, 7d avg −0.084%

Together, before fees−0.061%+ Points / potential airdropedgeX: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.184% cheaper against edgeX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	97.792	0.0001	pay 0.0000% / 4h	1h 43m	$225K	$229K	20x
Short	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0088	pay 0.0011% / 1h	43m 34s	$235K	$416K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.268%Rate

Funding earned: −$18.63
Price spread: −0.268% → −0.084%: −$18.44
Slippage, 4 orders: −$22.99
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$79.05
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from edgeX: live order book, 64 min ago; Coinbase International: live order book, 64 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 edgeX live order book, 64 min ago	10.26 bp	14.8 bp −$15	15.4 bp −$154	57.9 bp −$5,790	doesn't fit
Sell Coinbase International live order book, 64 min ago	1.03 bp	6.0 bp −$6	8.2 bp −$82	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	96.817	−0.997%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0088%	1h	97.530	−0.268%	$235K	$416K	15x
Deribit BRENTOIL_USDC-PERPETUAL	−0.0057%	1h	97.770	−0.023%	$100K	$251K	15x	as long as short
BloFin BZ-USDT	−0.0013%	4h	97.810	+0.018%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.802	+0.010%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.793	+0.001%	$147.7M	$352.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.750	−0.043%	$10.1M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.780	−0.012%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.773	−0.020%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.740	−0.053%	$9.3M	$10.9M	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	97.800	+0.008%	$28.0M	$17.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.738	−0.056%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.800	+0.008%	$27K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.820	+0.028%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.760	−0.033%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.790	−0.002%	$1.2M	$80K	100x	as long as short
edgeX BZUSDClong	+0.0001%	4h	97.792	long leg	$225K	$229K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.352	+0.573%	—	—	—	as long as short
Vest BZ-PERP	+0.0012%	1h	101.91	+4.211%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.790	−0.002%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.797	+0.005%	$678K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.795	+0.003%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.812	+0.020%	$155.0M	$119.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.847	+0.056%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.790	−0.002%	$3.1M	$999K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.808	+0.016%	$7K	$41K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.790	−0.002%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.810	+0.018%	$3.8M	$825K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.780	−0.012%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.818	+0.026%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.795	+0.003%	$116K	—	111x	as long as short