Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.003%

Price spread now: Phemex against Paradex−0.011%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BZ-USD-PERP	96.911	0.0049	pay 0.0049% / 8h	5h 46m	$3K	$336	5x
Short	Phemex XBRUSDT	96.900	0	get 0.0000% / 4h	1h 46m	$1.2M	$84K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$10.36
Price spread: −0.011% → 0.000%: −$1.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$27.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	1.03 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Paradex: 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	96.207	−0.726%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.104%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.930	+0.020%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0030%	4h	96.940	+0.030%	—	$87K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.917	+0.006%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.916	+0.005%	$146.5M	$375.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.910	−0.001%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.920	+0.009%	$15.9M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.908	−0.003%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.870	−0.042%	$9.2M	$12.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.940	+0.030%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.006	+0.098%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.103%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.960	+0.051%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.930	+0.020%	$103K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	+0.009%	$278K	$269K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	96.900	−0.011%	$1.2M	$84K	100x
edgeX BZUSDC	+0.0007%	4h	96.943	+0.033%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.463	+0.569%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.920	+0.009%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.929	+0.018%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.00	+4.219%	—	$735K	10x	as long as short
Paradex BZ-USD-PERPlong	+0.0049%	8h	96.911	long leg	$3K	$336	5x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.940	+0.030%	$151.9M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.001	+0.093%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.870	−0.042%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.092%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.930	+0.020%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0059%	1h	96.925	+0.014%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0194%	1h	96.969	+0.060%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.945	+0.035%	$83K	$218K	20x	as long as short