Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.004%

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

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

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	97.225	0.0113	pay 0.0014% / 1h	32m 16s	$82K	$200K	20x
Short	Paradex BZ-USD-PERP	97.202	0.0050	get 0.0050% / 8h	32m 16s	$2K	$1K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$13.26
Price spread: −0.024% → 0.000%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$29.65
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Paradex: 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, 5 min ago	5.44 bp	11.6 bp −$12	19.7 bp −$197	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	96.605	−0.638%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.067%	$236K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0005%	4h	97.280	+0.056%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.224	−0.002%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.200	−0.026%	$149.1M	$352.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.180	−0.047%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.210	−0.016%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.181	−0.046%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.160	−0.067%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.210	−0.016%	$27.8M	$18.3M	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	97.286	+0.062%	$9.5M	$6.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.219	−0.007%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.230	+0.005%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.200	−0.026%	$100K	$255K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.088%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.480	+0.262%	$1.2M	$86K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.30	+4.191%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.311	+0.089%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.823	+0.615%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.250	+0.025%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0023%	1h	97.150	−0.077%	$3.1M	$994K	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.190	−0.036%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.197	−0.029%	$738K	$3.1M	10x	as long as short
Paradex BZ-USD-PERPshort	+0.0050%	8h	97.202	−0.024%	$2K	$1K	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.228	+0.003%	$155.1M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.260	+0.036%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0093%	1h	97.297	+0.073%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.230	+0.005%	$3.8M	$801K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.160	−0.067%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0113%	1h	97.225	long leg	$82K	$200K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.195	−0.031%	$115K	—	111x	as long as short