BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2659%/8h= +291.1% APRnext payment +$3.32 per $10,000 · paid last 24h +0.061%

Price spread now: GMX against Kraken Futures−0.024%7-day average −0.012% · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.498%+$50 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.024%, 7d avg −0.012%

Together, before fees+0.590%+$59 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: +$80 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.498% in total (about 52.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.32 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	97.418	0.0113	pay 0.0014% / 1h	5m 47s	$82K	$200K	20x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.395	L +0.0329% / S −0.2771%	get 0.0346% / 1h	5m 47s	$116K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $558.3
Price spread: −0.024% → −0.012%: −$1.16
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $535.14
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: live order book, 32 min ago; GMX: 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 Kraken Futures live order book, 32 min ago	5.44 bp	11.6 bp −$12	19.7 bp −$197	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	96.342	−1.105%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0161%	1h	97.400	−0.019%	$100K	$256K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.063%	$237K	$402K	15x	as long as short
Ondo Perps BRENT-USD.P	−0.0014%	1h	97.370	−0.050%	$3.1M	$1.0M	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.451	+0.033%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.405	−0.014%	$148.3M	$351.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.380	−0.040%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.360	−0.060%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.409	−0.010%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.350	−0.070%	$9.2M	$11.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.410	−0.009%	$27.9M	$18.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.402	−0.017%	$9.5M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.187	−0.237%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.440	+0.022%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.430	+0.012%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.420	+0.002%	$1.2M	$86K	100x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.47	+4.159%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.986	+0.583%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.166	−0.259%	$223K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.430	+0.012%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.444	+0.026%	$743K	$2.9M	10x	as long as short
BloFin BZ-USDT	+0.0048%	4h	97.430	+0.012%	$1.5M	$99K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.447	+0.030%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.430	+0.012%	$155.6M	$115.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.459	+0.042%	$1.6M	$395K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0080%	1h	97.330	−0.091%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.390	−0.029%	$3.8M	$801K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	−0.193%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0113%	1h	97.418	long leg	$82K	$200K	20x
Hotstuff BRENTOIL-PERP	+0.0176%	1h	97.500	+0.084%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0329% / S −0.2771%	1h	97.395	−0.024%	$116K	—	111x