Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.026%

Price spread now: SunX against Kraken Futures−0.007%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$820.818% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.911%+$91 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now −0.007%, 7d avg +0.007%

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

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.911%, 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	97.027	0.0298	pay 0.0037% / 1h	49m 51s	$84K	$218K	20x
Short	SunX BRENTOIL-USDT	97.020	0	get 0.0000% / 4h	1h 49m	$4K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$62.61
Price spread: −0.007% → +0.007%: −$1.39
Slippage, 4 orders: −$63.85
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$145.85
Costs to cover: 0.818%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 13 min ago; SunX: live order book, 7 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	3.20 bp	16.7 bp −$17	24.3 bp −$243	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	18.57 bp	26.4 bp −$26	35.1 bp −$351	doesn't fit	doesn't fit

BZ on 30 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	96.207	−0.845%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.223%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.981	−0.047%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.959	−0.070%	$146.6M	$375.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.960	−0.069%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.990	−0.038%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.011	−0.016%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.030	+0.003%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.950	−0.079%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.010	−0.017%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.006	−0.021%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.921	−0.109%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	97.020	−0.007%	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.990	−0.038%	$104K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−0.038%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.010	−0.017%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.529	+0.518%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.887	−0.144%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.960	−0.069%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.000	−0.027%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.05	+4.147%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.016	−0.011%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.970	−0.059%	$151.9M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.062	+0.036%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.000	−0.028%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.050	+0.024%	$3.8M	$876K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.970	−0.059%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0062%	1h	96.985	−0.043%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0198%	1h	96.969	−0.060%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0298%	1h	97.027	long leg	$84K	$218K	20x