Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.003%

Price spread now: OKX against gTrade (Gains Network)−0.556%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 OKX

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

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.556% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$56 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	97.342	L +0.0011% / S −0.0011%	pay 0.0001% / 1h	37m 39s	—	—	—
Short	OKX BZ-USDT-SWAP	96.800	0	get 0.0000% / 4h	2h 37m	$15.9M	$22.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.556%Rate

Funding earned: −$2.4
Price spread: −0.556% → 0.000%: −$55.64
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$78.04
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	0.52 bp	5.5 bp −$6	8.2 bp −$82	25.1 bp −$2,506	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	95.962	−1.417%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.710%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.597%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.818	−0.538%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.803	−0.553%	$146.3M	$388.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.780	−0.577%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.800	−0.556%	$15.9M	$22.7M	50x
RISEx BZ/USDC	0.0000%	1h	96.787	−0.570%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.770	−0.587%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.800	−0.556%	$27.6M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.790	−0.567%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.793	−0.563%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.820	−0.536%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.840	−0.515%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	−0.608%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	−0.546%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USDlong	L +0.0011% / S −0.0011%	1h	97.342	long leg	—	—	—
edgeX BZUSDC	+0.0019%	4h	96.798	−0.559%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.800	−0.556%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.800	−0.556%	$674K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.80	+3.553%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.791	−0.566%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.817	−0.539%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.858	−0.497%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.700	−0.659%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.800	−0.556%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	−0.495%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.587%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0102%	1h	96.825	−0.531%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.821	−0.535%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0273%	1h	96.810	−0.547%	$7K	$44K	5x	as long as short