Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Aster against Phemex+0.009%7-day average −0.232% · you sell dearer than you buy

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

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.434%−$43 on $10k

Price spread, last 3 days (all we have)−0.376%−$38 · spread now +0.009%, 7d avg −0.232%

Together, before fees−0.809%+ Points / potential airdropAster: Stage 5 · farm board−$81 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.242% dearer against Phemex than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.232%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	96.700	0	get 0.0000% / 4h	3h 01m	$1.2M	$93K	100x
Short	Aster BZUSDT	96.709	0	get 0.0000% / 4h	3h 01m	$336K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → −0.232%: $24.19
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $4.19
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Phemex: live order book, 1 min ago; Aster: 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 Phemex live order book, 1 min ago	6.72 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	2.07 bp	6.1 bp −$6	14.7 bp −$147	98.8 bp −$9,876	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.731	−1.002%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.052%	$234K	$440K	15x	as long as short
BloFin BZ-USDT	−0.0031%	4h	96.690	−0.010%	$1.5M	$91K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	96.740	+0.041%	$33K	—	20x	as long as short
Aster BZUSDTshort	0.0000%	4h	96.709	+0.009%	$336K	$1.2M	50x
Binance BZUSDT	0.0000%	4h	96.690	−0.010%	$145.8M	$403.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.670	−0.031%	$10.4M	$15.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.680	−0.021%	$15.9M	$24.1M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.719	+0.020%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.660	−0.041%	$9.2M	$14.4M	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	96.700	0.000%	$27.6M	$17.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.687	−0.013%	$9.3M	$7.4M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.676	−0.025%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.700	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.710	+0.010%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.660	−0.041%	$308K	$222K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	96.700	long leg	$1.2M	$93K	100x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.218	+0.535%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	96.613	−0.090%	$221K	$233K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.728	+0.029%	$83K	$220K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.690	−0.010%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.687	−0.013%	$724K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.77	+4.209%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.709	+0.009%	$3K	$521	5x	as long as short
Ondo Perps BRENT-USD.P	+0.0046%	1h	96.660	−0.041%	$3.1M	$1.1M	15x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.710	+0.010%	$151.7M	$138.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.755	+0.057%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.730	+0.031%	$3.8M	$926K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.700	0.000%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0201% / S +0.0123%	1h	96.685	−0.016%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0327%	1h	96.702	+0.003%	$7K	$44K	5x	as long as short