Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.006%

Price spread now: BloFin against gTrade (Gains Network)−0.625%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.625% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$63 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	gTrade (Gains Network) BRENT/USD	98.053	L +0.0011% / S −0.0011%	pay 0.0001% / 1h	39m 35s	—	—	—
Short	BloFin BZ-USDT	97.440	0.0004	get 0.0002% / 4h	3h 39m	$1.5M	$92K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now −0.625%Rate

Funding earned: −$1.62
Price spread: −0.625% → 0.000%: −$62.51
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$86.12
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 3 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.51 bp	7.2 bp −$7	9.7 bp −$97	19.9 bp −$1,995	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.333	−1.754%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.798%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.488	−0.576%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.500	−0.564%	$147.7M	$367.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.510	−0.554%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.490	−0.574%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.481	−0.584%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.470	−0.594%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.510	−0.554%	$27.9M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.458	−0.607%	$9.3M	$6.9M	—	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	97.462	−0.602%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.520	−0.543%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.510	−0.554%	$104K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.747%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	−0.554%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDTshort	+0.0004%	4h	97.440	−0.625%	$1.5M	$92K	50x
edgeX BZUSDC	+0.0007%	4h	97.427	−0.639%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USDlong	L +0.0011% / S −0.0011%	1h	98.053	long leg	—	—	—
Vest BZ-PERP	+0.0029%	1h	101.53	+3.546%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.490	−0.574%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.511	−0.553%	$675K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.497	−0.567%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.521	−0.542%	$154.0M	$126.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.529	−0.534%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.450	−0.615%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.502	−0.562%	$82K	$208K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.530	−0.533%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.550	−0.513%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.370	−0.696%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0103%	1h	97.393	−0.673%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0239% / S −0.0325%	1h	97.495	−0.569%	$127K	—	111x	as long as short