Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: Bitget against Ondo Perps−0.021%50s7-day average +0.101% · you buy dearer than you sell

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

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days+0.277%+$28 · spread now −0.021%, 7d avg +0.101%

Together, before fees+0.164%+ Points / potential airdropOndo Perps: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bitget is 0.122% cheaper against Ondo Perps than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.101%). Swap the legs. The two prices were read 50 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	Ondo Perps BRENT-USD.P	97.270	0.0050	pay 0.0006% / 1h	38m 56s	$3.1M	$1.1M	15x
Short	Bitget BZUSDT	97.250	0	get 0.0000% / 4h	38m 56s	$27.5M	$16.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$10.58
Price spread: −0.021% → +0.101%: −$12.19
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.77
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 5 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.51 bp	7.2 bp −$7	9.1 bp −$91	26.7 bp −$2,665	70.2 bp −$35.1K

Ondo Perps: 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	96.376	−0.919%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.031%	$234K	$437K	15x	as long as short
BloFin BZ-USDT	−0.0051%	4h	97.180	−0.093%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.220	−0.051%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.230	−0.041%	$147.1M	$371.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.230	−0.041%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.200	−0.072%	$16.0M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.236	−0.035%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.190	−0.082%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	97.250	−0.021%	$27.5M	$16.3M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.307	+0.038%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.319	+0.051%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.210	−0.062%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	+0.021%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.230	−0.041%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.311	+0.042%	$223K	$226K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.743	+0.486%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.220	−0.051%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.247	−0.024%	$678K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0035%	1h	101.27	+4.112%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.242	−0.028%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.244	−0.027%	$153.0M	$124.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.286	+0.016%	$1.6M	$494K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	97.270	long leg	$3.1M	$1.1M	15x
Hotstuff BRENTOIL-PERP	+0.0088%	1h	97.350	+0.082%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.240	−0.031%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.330	+0.062%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0101%	1h	97.305	+0.036%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.238	−0.033%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.205	−0.067%	$126K	—	111x	as long as short