Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.004%

Price spread now: Hotstuff against HTX+0.083%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Hotstuff

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 airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.083% dearer against HTX than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	96.430	0	get 0.0000% / 4h	3h 26m	$307K	$226K	75x
Short	Hotstuff BRENTOIL-PERP	96.510	−0.0040	pay 0.0005% / 1h	26m 05s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against HTX. 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 HTXbpFee HotstuffbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$8.4
Price spread: +0.083% → 0.000%: $8.3
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$17.1
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 46 min ago; Hotstuff: 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 HTX live order book, 46 min ago	1.56 bp	7.6 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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 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	95.669	−0.789%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.373%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.475	+0.047%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0044%	4h	96.490	+0.062%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0040%	1h	96.510	+0.083%	$33K	—	20x
Aster BZUSDT	0.0000%	4h	96.487	+0.060%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.490	+0.062%	$145.6M	$423.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.470	+0.041%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.480	+0.052%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.472	+0.044%	$2.2M	$1.3M	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	96.440	+0.010%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.500	+0.073%	$27.6M	$19.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.459	+0.030%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.442	+0.012%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.500	+0.073%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.500	+0.073%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	96.430	long leg	$307K	$226K	75x
Phemex XBRUSDT	0.0000%	4h	96.490	+0.062%	$1.2M	$93K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	96.457	+0.028%	$221K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.006	+0.598%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.496	+0.068%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0031%	1h	96.430	0.000%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.490	+0.062%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.493	+0.066%	$749K	$5.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	96.473	+0.044%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.55	+4.273%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.516	+0.089%	$151.5M	$142.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.538	+0.112%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.510	+0.083%	$3.8M	$984K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.490	+0.062%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0416%	1h	96.472	+0.044%	$7K	$45K	5x	as long as short