Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2671%/8h= +292.5% APRpaid last 24h +0.040%

Price spread now: GMX against KuCoin−0.036%7-day average −0.019% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.036%, 7d avg −0.019%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, 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 0.010% in total (about 1.0% a year). A funding rate is set anew for every payment. 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	KuCoin BZUSDTM	97.230	0.0100	pay 0.0050% / 4h	32m 16s	$3.8M	$801K	50x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.195	L +0.0328% / S −0.2771%	get 0.0346% / 1h	32m 16s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $561
Price spread: −0.036% → −0.019%: −$1.73
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $535.27
Costs to cover: 0.240%
Break-even: 0.3 days

Slippage unknown: KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	0.51 bp	13.4 bp −$13	39.5 bp −$395	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	96.605	−0.643%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.072%	$236K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0005%	4h	97.280	+0.051%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.224	−0.006%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.200	−0.031%	$149.1M	$352.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.180	−0.051%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.210	−0.021%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.181	−0.051%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.160	−0.072%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.210	−0.021%	$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	+0.058%	$9.5M	$6.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.219	−0.012%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.230	0.000%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.200	−0.031%	$100K	$255K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.093%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.480	+0.257%	$1.2M	$86K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.30	+4.186%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.311	+0.084%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.823	+0.610%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.250	+0.021%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0023%	1h	97.150	−0.082%	$3.1M	$994K	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.190	−0.041%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.197	−0.034%	$738K	$3.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.202	−0.029%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.228	−0.002%	$155.1M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.260	+0.031%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0093%	1h	97.297	+0.069%	$7K	$40K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.230	long leg	$3.8M	$801K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.160	−0.072%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.225	−0.005%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0328% / S −0.2771%	1h	97.195	−0.036%	$115K	—	111x