Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.025%

Price spread now: Coinbase International against OKX−0.123%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.216%−$22 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.123%, 7d avg −0.107%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.107%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	97.390	0	get 0.0000% / 4h	3h 43m	$16.0M	$20.4M	50x
Short	Coinbase International BRENTOIL-PERP-INTX	97.270	−0.0088	pay 0.0011% / 1h	43m 36s	$233K	$439K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$18.48
Price spread: −0.123% → −0.107%: −$1.6
Slippage, 4 orders: −$5.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$45.13
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Coinbase International: live order book, 9 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 OKX live order book, 5 min ago	0.51 bp	5.9 bp −$6	8.7 bp −$87	22.6 bp −$2,263	doesn't fit
Sell Coinbase International live order book, 9 min ago	1.54 bp	6.5 bp −$7	7.8 bp −$78	doesn't fit	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	−1.085%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0088%	1h	97.270	−0.123%	$233K	$439K	15x
Aster BZUSDT	0.0000%	4h	97.391	+0.001%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.402	+0.012%	$147.7M	$368.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.400	+0.010%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	97.390	long leg	$16.0M	$20.4M	50x
RISEx BZ/USDC	0.0000%	1h	97.388	−0.002%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.390	0.000%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.380	−0.010%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.400	+0.010%	$27.9M	$16.6M	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	97.348	−0.043%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.370	−0.021%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.380	−0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.370	−0.021%	$104K	$241K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.072%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	0.000%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.375	−0.015%	$223K	$228K	20x	as long as short
BloFin BZ-USDT	+0.0010%	4h	97.350	−0.041%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.934	+0.559%	—	—	—	as long as short
Vest BZ-PERP	+0.0030%	1h	101.44	+4.159%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.400	+0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.430	+0.042%	$677K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.392	+0.002%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.425	+0.036%	$153.6M	$126.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.436	+0.047%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.350	−0.041%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.390	0.000%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.460	+0.072%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	−0.031%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0105%	1h	97.331	−0.060%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0235% / S −0.0303%	1h	97.365	−0.026%	$126K	—	111x	as long as short