BZ

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+11.036%

7d average—if it closes, per $10,000$1104funding while held, a day+$8.58

Long on Injective Short on Kraken Futures

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BRENT/USDC PERP	86.539	−0.0220	get 0.0028% / 1h	27m 32s	$13K	$97	30x
Short	Kraken Futures PF_BRENTOILUSD	96.089	0.0066	get 0.0008% / 1h	27m 32s	$81K	$364K	20x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee InjectivebpFee Kraken FuturesbpOrdersClose when spread is

Spread captured: $1,103.56
Funding while held: $8.58
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,102.12
Spread needed to break even: 0.100%

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 22 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0286%
Per $10,000 a day: +$8.58
Average in range /8h: —

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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 22 min ago	5.92 bp	22.6 bp −$23	34.7 bp −$347	doesn't fit	doesn't fit

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 price on every exchange

against the cheapest. Click to use as the short leg.

Injective86.539cheapest

Ondo Perps96.050+10.990%

Gate96.080+11.025%

GMX96.085+11.031%

Kraken Futures96.089+11.036%

Hotstuff96.090+11.037%

BloFin96.090+11.037%

ApeX Omni96.100+11.048%

edgeX96.106+11.055%

KuCoin96.120+11.071%

Bitget96.120+11.071%

SunX96.120+11.071%

RISEx96.129+11.082%

Bybit96.130+11.083%

Deribit96.130+11.083%

Paradex96.136+11.090%

OKX96.140+11.094%

Binance96.143+11.097%

tradeXYZ96.148+11.104%

Lighter96.160+11.118%

HTX96.160+11.118%

Aster96.163+11.121%

Polymarket Perps96.166+11.124%

Aftermath Perps96.174+11.133%

Extended96.185+11.146%

Variational Omni96.246+11.217%

Coinbase International96.320+11.302%

Phemex96.540+11.557%

gTrade (Gains Network)96.856+11.922%

Vest100.22+15.809%

BZ on 30 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BRENT/USDC PERPlong	0.000%	−0.0220%	1h	$13K	$97	30x
Ondo Perps BRENT-USD.P	+10.990%	+0.0023%	1h	$3.0M	$908K	15x	as long as short
Gate BZ_USDT	+11.025%	0.0000%	8h	$9.2M	$17.5M	100x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	+11.031%	L +0.0038% / S +0.0056%	1h	$43K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+11.036%	+0.0066%	1h	$81K	$364K	20x
Hotstuff BRENTOIL-PERP	+11.037%	+0.0264%	1h	$33K	—	20x	as long as short
BloFin BZ-USDT	+11.037%	−0.0029%	4h	$1.6M	$73K	50x	as long as short
ApeX Omni BZUSDT	+11.048%	+0.0100%	1h	$25K	$271K	50x	as long as short
edgeX BZUSDC	+11.055%	+0.0009%	4h	$220K	$235K	20x	as long as short
KuCoin BZUSDTM	+11.071%	+0.0100%	4h	$3.7M	$890K	50x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget BZUSDT	+11.071%	0.0000%	4h	$28.4M	$20.0M	100x	as long as short
SunX BRENTOIL-USDT	+11.071%	0.0000%	4h	$4K	$2.7M	20x	as long as short
RISEx BZ/USDC	+11.082%	−0.0048%	1h	$2.2M	$577K	20x	as long as short
Bybit BZUSDT	+11.083%	0.0000%	8h	$10.8M	$15.2M	100x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+11.083%	−0.0062%	1h	$103K	$255K	15x	as long as short
Paradex BZ-USD-PERP	+11.090%	+0.0044%	8h	$3K	$282	5x	as long as short
OKX BZ-USDT-SWAP	+11.094%	0.0000%	4h	$16.3M	$30.1M	50x	as long as short
Binance BZUSDT	+11.097%	−0.0001%	4h	$146.8M	$420.1M	100x	as long as short
tradeXYZ xyz:BRENTOIL	+11.104%	+0.0050%	1h	$138.1M	$118.9M	20x	as long as short
Lighter BRENTOIL	+11.118%	+0.0032%	1h	$3.2M	$3.8M	20x	as long as short
HTX BRENTOIL-USDT	+11.118%	0.0000%	4h	$286K	$123K	75x	as long as short
Aster BZUSDT	+11.121%	0.0000%	4h	$335K	$1.6M	50x	as long as short
Polymarket Perps BRENTOIL-USD	+11.124%	+0.0050%	1h	$1.6M	$566K	20x	as long as short
Aftermath Perps BRENTUSD	+11.133%	−0.0004%	1h	$7K	$50K	5x	as long as short
Extended XBR-USD	+11.146%	+0.0032%	1h	$682K	$5.0M	10x	as long as short
Variational Omni BZ	+11.217%	0.0000%	4h	$9.6M	$12.1M	—	as long as short
Coinbase International BRENTOIL-PERP-INTX	+11.302%	−0.0048%	1h	$259K	$668K	15x	as long as short
Phemex XBRUSDT	+11.557%	+0.0714%	4h	$1.2M	$91K	100x	as long as short
gTrade (Gains Network) BRENT/USD	+11.922%	L +0.0011% / S −0.0011%	1h	—	—	—	as long as short
Vest BZ-PERP	+15.809%	−0.0069%	1h	—	$476K	10x	as long as short