Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0566%/8h= +61.9% APRpaid last 24h −0.063%

Price spread now: Extended against edgeX−0.057%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.159%+$16 · spread now −0.057%, 7d avg +0.034%

Together, before fees+0.125%+ Points / potential airdropedgeX: Active · Extended: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.091% cheaper against edgeX than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.034%). If the spread goes back, that is −$9 on $10k: about 13 hours of funding at the current rate (+$17 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	96.183	0.0010	pay 0.0005% / 4h	14m 38s	$220K	$234K	20x
Short	Extended XBR-USD	96.128	0.0576	get 0.0072% / 1h	14m 38s	$675K	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.057%Rate

Funding earned: $118.76
Price spread: −0.057% → +0.034%: −$9.08
Slippage, 4 orders: −$23.76
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $71.92
Costs to cover: 0.378%
Break-even: 2.8 days

Slippage from edgeX: live order book, 62 min ago; Extended: 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 edgeX live order book, 62 min ago	10.42 bp	14.9 bp −$15	15.6 bp −$156	59.9 bp −$5,994	doesn't fit
Sell Extended live order book, 4 min ago	0.42 bp	3.6 bp −$4	20.8 bp −$208	doesn't fit	doesn't fit

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	96.205	+0.023%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.726%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	96.250	+0.070%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0062%	1h	96.230	+0.049%	$103K	$275K	15x	as long as short
BloFin BZ-USDT	−0.0050%	4h	96.190	+0.008%	$1.5M	$96K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.117%	$232K	$551K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.190	+0.008%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	+0.029%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.205	+0.023%	$145.8M	$452.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.210	+0.029%	$10.5M	$16.1M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	96.200	+0.018%	$15.8M	$26.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.170	−0.013%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.210	+0.029%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.181	−0.002%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.206	+0.025%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.230	+0.049%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.140	−0.044%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.200	+0.018%	$1.2M	$94K	100x	as long as short
edgeX BZUSDClong	+0.0010%	4h	96.183	long leg	$220K	$234K	20x
Paradex BZ-USD-PERP	+0.0029%	8h	96.199	+0.018%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.940	+3.907%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.251	+0.071%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.271	+0.092%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0081%	1h	96.270	+0.091%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	−0.065%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	+0.029%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.251	+0.072%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0288%	1h	96.230	+0.049%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0405%	1h	96.180	−0.003%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USDshort	+0.0576%	1h	96.128	−0.057%	$675K	$5.2M	10x