Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.022%

Price spread now: edgeX against Kraken Futures−0.139%76s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs+$32as 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−$630.629% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.946%+$95 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.139%, 7d avg −0.036%

Together, before fees+1.273%+ Points / potential airdropedgeX: Active · farm board+$127 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.103% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.946%, so the current rate has only just turned against you. The two prices were read 76 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	97.502	0.0063	pay 0.0008% / 1h	39m 45s	$82K	$208K	20x
Short	edgeX BZUSDC	97.366	0.0012	get 0.0006% / 4h	3h 39m	$223K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$10.75
Price spread: −0.139% → −0.036%: −$10.28
Slippage, 4 orders: −$43.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$83.89
Costs to cover: 0.629%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 13 min ago; edgeX: live order book, 12 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, 13 min ago	4.42 bp	15.4 bp −$15	26.2 bp −$262	doesn't fit	doesn't fit
Sell edgeX live order book, 12 min ago	10.29 bp	14.8 bp −$15	16.8 bp −$168	100.8 bp −$10.1K	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.333	−1.199%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.238%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.489	−0.013%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.500	−0.002%	$147.7M	$367.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.510	+0.009%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.510	+0.009%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.480	−0.023%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.043%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.500	−0.002%	$27.9M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.458	−0.045%	$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	97.370	−0.135%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.520	+0.019%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.510	+0.009%	$104K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.186%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.009%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	+0.0004%	4h	97.440	−0.063%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.053	+0.565%	—	—	—	as long as short
edgeX BZUSDCshort	+0.0012%	4h	97.366	−0.139%	$223K	$226K	20x
Vest BZ-PERP	+0.0029%	1h	101.53	+4.132%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.490	−0.012%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.517	+0.016%	$675K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.489	−0.013%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.521	+0.020%	$154.0M	$126.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.529	+0.028%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.440	−0.063%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0063%	1h	97.502	long leg	$82K	$208K	20x
Hotstuff BRENTOIL-PERP	+0.0080%	1h	97.510	+0.009%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.550	+0.050%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.370	−0.135%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0103%	1h	97.393	−0.112%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0239% / S −0.0325%	1h	97.495	−0.007%	$127K	—	111x	as long as short