Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h +0.018%

Price spread now: Paradex against GMX+0.030%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.030% dearer against GMX than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	96.805	L +0.0204% / S +0.0117%	pay 0.0025% / 1h	56m 23s	$126K	—	111x
Short	Paradex BZ-USD-PERP	96.834	0.0047	get 0.0047% / 8h	6h 56m	$3K	$521	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$32.97
Price spread: +0.030% → 0.000%: $3.02
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$45.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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	−0.871%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.160%	$234K	$421K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.842	+0.038%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.800	−0.005%	$146.0M	$397.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.780	−0.026%	$10.4M	$14.8M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.820	+0.015%	$15.9M	$23.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.826	+0.022%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.790	−0.015%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.830	+0.026%	$27.7M	$16.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.668	−0.141%	$9.3M	$7.4M	—	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	96.828	+0.024%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.880	+0.077%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.850	+0.046%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.700	−0.108%	$308K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.840	+0.036%	$1.2M	$88K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.333	+0.545%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.739	−0.069%	$222K	$232K	20x	as long as short
BloFin BZ-USDT	+0.0028%	4h	96.840	+0.036%	$1.5M	$91K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.840	+0.036%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.840	+0.037%	$688K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.86	+4.189%	—	$735K	10x	as long as short
Paradex BZ-USD-PERPshort	+0.0047%	8h	96.834	+0.030%	$3K	$521	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.830	+0.026%	$151.7M	$138.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.867	+0.064%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.820	+0.015%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.870	+0.067%	$3.8M	$918K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.890	+0.088%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	96.880	+0.077%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0204% / S +0.0117%	1h	96.805	long leg	$126K	—	111x
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.861	+0.058%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0312%	1h	96.799	−0.006%	$7K	$44K	5x	as long as short