Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.023%

Price spread now: BloFin against Kraken Futures−0.009%57s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs+$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.487% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.943%+$94 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.009%, 7d avg −0.017%

Together, before fees+1.002%+$100 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	96.289	0.0020	pay 0.0002% / 1h	46m 08s	$83K	$233K	20x
Short	BloFin BZ-USDT	96.280	0.0044	get 0.0022% / 4h	3h 46m	$1.5M	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.009%Rate

Funding earned: $5.08
Price spread: −0.009% → −0.017%: $0.8
Slippage, 4 orders: −$26.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$42.79
Costs to cover: 0.487%
Break-even: 66.0 days

Slippage from Kraken Futures: live order book, 26 min ago; BloFin: live order book, 1 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, 26 min ago	4.83 bp	21.2 bp −$21	25.1 bp −$251	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	1.04 bp	7.5 bp −$8	10.6 bp −$106	22.4 bp −$2,236	doesn't fit

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.265	−0.025%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.809%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.227%	$232K	$483K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.252	−0.039%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.270	−0.020%	$145.6M	$435.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.270	−0.020%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.270	−0.020%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.260	−0.030%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.230	−0.061%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.270	−0.020%	$27.6M	$20.1M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.240	−0.051%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.251	−0.039%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.280	−0.009%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.290	+0.001%	$103K	$272K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.210	−0.082%	$306K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.360	+0.074%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	96.205	−0.087%	$220K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.812	+0.543%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0020%	1h	96.289	long leg	$83K	$233K	20x
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.300	+0.012%	$33K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0029%	1h	96.210	−0.082%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.280	−0.009%	$3.4M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.288	−0.001%	$744K	$5.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0039%	8h	96.270	−0.019%	$3K	$521	5x	as long as short
BloFin BZ-USDTshort	+0.0044%	4h	96.280	−0.009%	$1.5M	$95K	50x
Vest BZ-PERP	+0.0046%	1h	100.36	+4.228%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.299	+0.011%	$151.1M	$143.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.326	+0.039%	$1.5M	$511K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.320	+0.032%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.270	−0.020%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0546%	1h	96.226	−0.065%	$6K	$44K	5x	as long as short