Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0231%/8hnext payment −$0.29 per $10,000 · paid last 24h —

Price spread now: Injective against gTrade (Gains Network)−1.197%7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 20 hours (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.197% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$120 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BRENT/USD	96.835	L +0.0011% / S −0.0011%	pay 0.0001% / 1h	22m 28s	—	—	—
Short	Injective BRENT/USDC PERP	95.676	−0.0220	pay 0.0028% / 1h	22m 28s	$10K	$4K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.197%Rate

Funding earned: −$48.6
Price spread: −1.197% → 0.000%: −$119.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$178.31
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Injective: 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 PERPshort	−0.0220%	1h	95.676	−1.197%	$10K	$4K	30x
GMX BRENTOIL/USD [ETH-USDC]	L −0.0113% / S +0.0312%	1h	96.085	−0.775%	$109K	—	111x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	96.400	−0.449%	$231K	$842K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.080	−0.780%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0011%	4h	96.050	−0.811%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.090	−0.770%	$332K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.060	−0.800%	$145.2M	$476.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.060	−0.800%	$10.4M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.050	−0.811%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.041	−0.820%	$2.2M	$1.2M	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	96.000	−0.862%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.070	−0.790%	$27.7M	$23.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.975	−0.889%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.990	−0.873%	$37K	$406K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.100	−0.759%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.130	−0.728%	$103K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.904%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.280	−0.573%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	95.988	−0.874%	$220K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USDlong	L +0.0011% / S −0.0011%	1h	96.835	long leg	—	—	—
Ondo Perps BRENT-USD.P	+0.0026%	1h	96.040	−0.821%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	96.097	−0.762%	$81K	$265K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.050	−0.811%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.079	−0.781%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.15	+3.423%	—	$664K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.052	−0.809%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.086	−0.773%	$149.3M	$144.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.132	−0.726%	$1.5M	$552K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0058%	1h	96.091	−0.769%	$6K	$48K	5x	as long as short
KuCoin BZUSDTM	+0.0074%	4h	96.010	−0.852%	$3.7M	$967K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.010	−0.852%	$25K	$271K	50x	as long as short