Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.110%

Price spread now: Binance against Extended−0.007%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 2 days (all we have)−0.062%−$6 · spread now −0.007%, 7d avg −0.059%

Together, before fees+0.080%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.052% dearer against Extended than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.059%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.142%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	95.958	0.0032	pay 0.0004% / 1h	31m 13s	$670K	$5.3M	10x
Short	Binance BZUSDT	95.951	0	get 0.0000% / 4h	3h 31m	$145.6M	$480.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now −0.007%Rate

Funding earned: −$6.72
Price spread: −0.007% → −0.059%: $5.24
Slippage, 4 orders: −$4.69
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$21.17
Costs to cover: 0.197%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: live order book, 3 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 Extended live order book, 3 min ago	0.99 bp	4.0 bp −$4	18.5 bp −$185	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.52 bp	5.5 bp −$6	6.1 bp −$61	10.6 bp −$1,060	52.2 bp −$26.1K

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0359% / S +0.0369%	1h	95.945	−0.013%	$114K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.293	−0.693%	$10K	$4K	30x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0130%	1h	95.952	−0.006%	$81K	$262K	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0128%	1h	95.990	+0.034%	$230K	$839K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.949	−0.009%	$332K	$1.7M	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	95.951	−0.007%	$145.6M	$480.6M	100x
Bybit BZUSDT	0.0000%	8h	95.930	−0.029%	$10.3M	$16.8M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.930	−0.029%	$15.8M	$30.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.939	−0.019%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	95.940	−0.018%	$33K	—	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	95.900	−0.060%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.930	−0.029%	$27.6M	$23.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.916	−0.043%	$9.5M	$11.6M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.913	−0.047%	$26K	$410K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.970	+0.013%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.960	+0.003%	$102K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.820	−0.143%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.930	−0.029%	$1.2M	$100K	100x	as long as short
Ondo Perps BRENT-USD.P	+0.0005%	1h	95.890	−0.070%	$3.1M	$1.1M	15x	as long as short
edgeX BZUSDC	+0.0011%	4h	95.913	−0.046%	$219K	$235K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.646	+0.718%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	−0.018%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	95.958	long leg	$670K	$5.3M	10x
Aftermath Perps BRENTUSD	+0.0043%	1h	95.951	−0.007%	$6K	$47K	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.03	+4.244%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0046%	4h	95.930	−0.029%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	95.931	−0.028%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.962	+0.005%	$147.8M	$145.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.012	+0.057%	$1.5M	$545K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.010	+0.055%	$3.7M	$992K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.930	−0.029%	$25K	$270K	50x	as long as short