Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h −0.002%

Price spread now: RISEx against OKX+0.112%56s7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.233% of the position

Long on OKX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.210%+$21 on $10k

Price spread, last 7 days+0.058%+$6 · spread now +0.112%, 7d avg +0.055%

Together, before fees+0.268%+$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.057% dearer against OKX than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of +0.055%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. Mind the row above: over the last 4 days funding on this pair paid +0.210%, so the current rate has only just turned against you. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	96.930	0	get 0.0000% / 4h	3h 19m	$16.3M	$20.2M	50x
Short	RISEx BZ/USDC	97.039	−0.0039	pay 0.0005% / 1h	19m 45s	$2.4M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$8.1
Price spread: +0.112% → +0.055%: $5.73
Slippage, 4 orders: −$7.27
Fee OKX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$25.64
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; RISEx: live order book, 4 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, 4 min ago	0.51 bp	6.0 bp −$6	10.5 bp −$105	27.9 bp −$2,791	doesn't fit
Sell RISEx live order book, 4 min ago	2.16 bp	5.2 bp −$5	5.8 bp −$58	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0265%	1h	97.070	+0.144%	$100K	$267K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.607%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0087%	1h	96.980	+0.052%	$3.1M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0064%	4h	97.181	+0.259%	$13K	$340K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.240	+0.320%	$237K	$410K	15x	as long as short
RISEx BZ/USDCshort	−0.0039%	1h	97.039	+0.112%	$2.4M	$1.8M	20x
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.110	+0.186%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.973	+0.045%	$336K	$707K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.940	+0.010%	$147.7M	$358.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.940	+0.010%	$10.2M	$13.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAPlong	0.0000%	4h	96.930	long leg	$16.3M	$20.2M	50x
Gate BZ_USDT	0.0000%	8h	96.840	−0.093%	$9.2M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	−0.031%	$27.9M	$19.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.031	+0.104%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.100	+0.175%	$4K	$2.2M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	+0.155%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.190	+0.268%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	100.95	+4.147%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.629	+0.721%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.177	+0.255%	$224K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.900	−0.031%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.972	+0.043%	$749K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	97.114	+0.190%	$2K	$1K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.140	+0.217%	$33K	—	20x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.940	+0.010%	$154.3M	$117.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.095	+0.170%	$1.6M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0055%	1h	97.239	+0.318%	$7K	$39K	5x	as long as short
BloFin BZ-USDT	+0.0060%	4h	97.040	+0.113%	$1.5M	$101K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.020	+0.093%	$3.7M	$786K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	+0.299%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0327% / S −0.2771%	1h	97.065	+0.139%	$115K	—	111x	as long as short