Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.026%

Price spread now: Binance against Kraken Futures+0.025%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.932%+$93 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now +0.025%, 7d avg +0.021%

Together, before fees+1.047%+$105 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.932%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	97.376	0.0063	pay 0.0008% / 1h	14m 10s	$82K	$208K	20x
Short	Binance BZUSDT	97.400	0	get 0.0000% / 4h	3h 14m	$147.4M	$366.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.025%Rate

Funding earned: −$13.3
Price spread: +0.025% → +0.021%: $0.34
Slippage, 4 orders: −$24.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$57.21
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 38 min ago; Binance: live order book, 14 min ago.

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 Kraken Futures live order book, 38 min ago	4.42 bp	15.4 bp −$15	26.2 bp −$262	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.51 bp	5.5 bp −$6	5.8 bp −$58	12.1 bp −$1,212	36.9 bp −$18.4K

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	96.536	−0.863%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.109%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.389	+0.013%	$339K	$930K	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	97.400	+0.025%	$147.4M	$366.8M	100x
Bybit BZUSDT	0.0000%	8h	97.390	+0.014%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.400	+0.025%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.382	+0.006%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.370	−0.006%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.400	+0.025%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.338	−0.039%	$9.3M	$6.9M	—	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	97.338	−0.039%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.420	+0.045%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.410	+0.035%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.380	+0.004%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.138%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.948	+0.588%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	97.336	−0.041%	$223K	$228K	20x	as long as short
Vest BZ-PERP	+0.0025%	1h	101.45	+4.184%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.410	+0.035%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.410	+0.035%	$680K	$4.0M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0040%	1h	97.390	+0.014%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.397	+0.022%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.413	+0.038%	$153.7M	$126.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.428	+0.053%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.350	−0.027%	$3.1M	$1.0M	15x	as long as short
BloFin BZ-USDT	+0.0058%	4h	97.390	+0.014%	$1.5M	$92K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0063%	1h	97.376	long leg	$82K	$208K	20x
Aftermath Perps BRENTUSD	+0.0091%	1h	97.355	−0.021%	$7K	$43K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.420	+0.045%	$3.8M	$850K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	−0.016%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0267% / S −0.1601%	1h	97.395	+0.020%	$115K	—	111x	as long as short