BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.027%

Price spread now: Deribit against Extended−0.017%7-day average −0.003% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Extended Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.327%−$33 on $10k

Price spread, last 4 days (all we have)−0.227%−$23 · spread now −0.017%, 7d avg −0.003%

Together, before fees−0.553%+ Points / potential airdropExtended: Active · farm board−$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.987	0.0032	pay 0.0004% / 1h	26m 18s	$676K	$4.8M	10x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.970	0	get 0.0000% / 1h	26m 18s	$104K	$243K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$6.72
Price spread: −0.017% → −0.003%: −$1.45
Slippage, 4 orders: −$11.56
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.73
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Deribit: live order book, 37 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	0.98 bp	4.3 bp −$4	14.2 bp −$142	doesn't fit	doesn't fit
Sell Deribit live order book, 37 min ago	0.52 bp	9.1 bp −$9	9.7 bp −$97	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	96.164	−0.848%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.090%	$233K	$431K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.966	−0.021%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.970	−0.017%	$146.8M	$373.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.960	−0.028%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	−0.038%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.962	−0.026%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.930	−0.059%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.990	+0.003%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.885	−0.105%	$9.3M	$7.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.909	−0.080%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.990	+0.003%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	96.970	−0.017%	$104K	$243K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.920	−0.069%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.020	+0.034%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	96.894	−0.096%	$222K	$229K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.513	+0.543%	—	—	—	as long as short
BloFin BZ-USDT	+0.0021%	4h	97.030	+0.044%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.990	+0.003%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	96.987	long leg	$676K	$4.8M	10x
Vest BZ-PERP	+0.0043%	1h	101.03	+4.169%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.990	+0.003%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.993	+0.006%	$151.9M	$125.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.023	+0.037%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	−0.090%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.020	+0.034%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.014%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	−0.090%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0164%	1h	96.951	−0.037%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0041%	1h	96.975	−0.012%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.992	+0.005%	$84K	$218K	20x	as long as short