Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.024%

Price spread now: Kraken Futures against edgeX+0.101%76s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.616% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.966%−$97 on $10k

Price spread, last 3 days (all we have)−0.206%−$21 · spread now +0.101%, 7d avg +0.032%

Together, before fees−1.172%+ Points / potential airdropedgeX: Active · farm board−$117 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.069% dearer against edgeX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.966%, so the current rate has only just turned in your favour. The two prices were read 76 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	edgeX BZUSDC	96.887	0.0015	pay 0.0008% / 4h	1h 47m	$222K	$227K	20x
Short	Kraken Futures PF_BRENTOILUSD	96.985	0.0298	get 0.0037% / 1h	47m 56s	$84K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.101%Rate

Funding earned: $59.42
Price spread: +0.101% → +0.032%: $6.95
Slippage, 4 orders: −$42.61
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $4.76
Costs to cover: 0.616%
Break-even: 6.4 days

Slippage from edgeX: live order book, 14 min ago; Kraken Futures: live order book, 15 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, 14 min ago	9.81 bp	14.3 bp −$14	15.1 bp −$151	56.3 bp −$5,629	doesn't fit
Sell Kraken Futures live order book, 15 min ago	3.20 bp	16.1 bp −$16	34.1 bp −$341	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.207	−0.702%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.080%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.970	+0.085%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.945	+0.060%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.954	+0.069%	$146.6M	$375.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.950	+0.065%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.960	+0.075%	$15.9M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.949	+0.064%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.920	+0.034%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.950	+0.065%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.006	+0.123%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.128%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	+0.085%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	+0.075%	$104K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	+0.034%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.960	+0.075%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.493	+0.625%	—	—	—	as long as short
edgeX BZUSDClong	+0.0015%	4h	96.887	long leg	$222K	$227K	20x
Lighter BRENTOIL	+0.0032%	1h	96.960	+0.075%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.968	+0.084%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.00	+4.245%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.949	+0.064%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.975	+0.091%	$151.9M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.015	+0.132%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.870	−0.018%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.030	+0.147%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.970	+0.085%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0060%	1h	96.955	+0.070%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0197%	1h	96.969	+0.085%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0298%	1h	96.985	+0.101%	$84K	$218K	20x