Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.005%

Price spread now: Bitget against Hotstuff−0.052%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.052% cheaper against Hotstuff than usual: you would sell low and buy high (−$5 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	Hotstuff BRENTOIL-PERP	96.980	0.0104	pay 0.0013% / 1h	55m 01s	$33K	—	20x
Short	Bitget BZUSDT	96.930	0	get 0.0000% / 4h	1h 55m	$27.4M	$16.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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 HotstuffbpFee BitgetbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$21.84
Price spread: −0.052% → 0.000%: −$5.16
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bitget: live order book, 4 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	0.51 bp	7.0 bp −$7	9.6 bp −$96	25.9 bp −$2,592	67.1 bp −$33.6K

Hotstuff: 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 30 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	96.207	−0.797%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.175%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.933	−0.049%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.920	−0.062%	$146.5M	$376.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.910	−0.072%	$10.3M	$13.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.930	−0.052%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.920	−0.062%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.880	−0.103%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	96.930	−0.052%	$27.4M	$16.2M	100x
Variational Omni BZ	0.0000%	4h	96.939	−0.042%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.949	−0.032%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.950	−0.031%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.950	−0.031%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.930	−0.052%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.940	−0.041%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	96.941	−0.040%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.477	+0.512%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.930	−0.052%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.953	−0.028%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.99	+4.135%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.924	−0.058%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.929	−0.053%	$151.8M	$127.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.975	−0.005%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.890	−0.093%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.021%	$3.8M	$877K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.950	−0.031%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERPlong	+0.0104%	1h	96.980	long leg	$33K	—	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0066%	1h	96.935	−0.046%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0209%	1h	96.949	−0.031%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.967	−0.014%	$84K	$218K	20x	as long as short