Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.018%

Price spread now: BloFin against Ondo Perps−0.041%7-day average +0.038% · you buy dearer than you sell

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

Long on Ondo Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.041%, 7d avg +0.038%

Together, before fees−0.084%+ Points / potential airdropOndo Perps: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.080% cheaper against Ondo Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	96.540	0.0034	pay 0.0004% / 1h	22m 22s	$3.1M	$1.1M	15x
Short	BloFin BZ-USDT	96.500	0.0014	get 0.0007% / 4h	3h 22m	$1.5M	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$4.23
Price spread: −0.041% → +0.038%: −$7.98
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.21
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; BloFin: 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 BloFin live order book, 5 min ago	0.52 bp	7.0 bp −$7	10.9 bp −$109	21.9 bp −$2,189	doesn't fit

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	95.669	−0.902%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.487%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.565	+0.026%	$33K	—	111x	as long as short
Aster BZUSDT	0.0000%	4h	96.617	+0.080%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.650	+0.114%	$145.8M	$421.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.630	+0.093%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.620	+0.083%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.602	+0.064%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.610	+0.073%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.660	+0.124%	$27.7M	$19.2M	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	96.459	−0.084%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.503	−0.038%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.560	+0.021%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.590	+0.052%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.490	−0.052%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.570	+0.031%	$1.2M	$93K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.183	+0.666%	—	—	—	as long as short
BloFin BZ-USDTshort	+0.0014%	4h	96.500	−0.041%	$1.5M	$95K	50x
edgeX BZUSDC	+0.0017%	4h	96.499	−0.043%	$221K	$232K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.576	+0.037%	$83K	$235K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.580	+0.041%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.611	+0.073%	$746K	$5.4M	10x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0034%	1h	96.540	long leg	$3.1M	$1.1M	15x
Hotstuff BRENTOIL-PERP	+0.0040%	1h	96.590	+0.052%	$33K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0044%	8h	96.568	+0.029%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.69	+4.299%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.661	+0.125%	$151.6M	$139.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.685	+0.150%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.650	+0.114%	$3.8M	$983K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.500	−0.041%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0399%	1h	96.524	−0.016%	$7K	$45K	5x	as long as short