Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0402%/8h= −44.1% APRpaid last 24h −0.006%

Price spread now: SunX against Ondo Perps+0.073%7-day average +0.062% · you sell dearer than you buy

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.073%, 7d avg +0.062%

Together, before fees−0.195%+ Points / potential airdropOndo Perps: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% 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	Ondo Perps BRENT-USD.P	96.150	0.0402	pay 0.0050% / 1h	12m 25s	$3.1M	$1.1M	15x
Short	SunX BRENTOIL-USDT	96.220	0	get 0.0000% / 4h	12m 25s	$4K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$84.5
Price spread: +0.073% → +0.062%: $1.12
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$96.38
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: 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 SunX live order book, 5 min ago	18.71 bp	26.6 bp −$27	35.3 bp −$353	doesn't fit	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 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.195	+0.047%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.693%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.240	+0.094%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.083%	$232K	$534K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.183	+0.035%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.205	+0.057%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.181	+0.032%	$145.8M	$451.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.200	+0.052%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.190	+0.042%	$15.8M	$26.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.140	−0.010%	$9.2M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.180	+0.031%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.181	+0.032%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.206	+0.058%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	96.220	+0.073%	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.230	+0.083%	$103K	$275K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.120	−0.031%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.200	+0.052%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	96.186	+0.037%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0030%	8h	96.187	+0.038%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0039%	4h	96.160	+0.010%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+3.796%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.227	+0.080%	$151.0M	$144.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.255	+0.109%	$1.5M	$525K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0084%	1h	96.270	+0.125%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.090	−0.062%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	+0.062%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.246	+0.100%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0272%	1h	96.210	+0.062%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0402%	1h	96.150	long leg	$3.1M	$1.1M	15x
Extended XBR-USD	+0.0560%	1h	96.134	−0.017%	$675K	$5.2M	10x	as long as short