Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.033%

Price spread now: Deribit against RISEx+0.017%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on RISEx Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.555%−$56 on $10k

Price spread, last 3 days (all we have)−0.150%−$15 · spread now +0.017%, 7d avg −0.023%

Together, before fees−0.706%−$71 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: Deribit is 0.040% dearer against RISEx than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BZ/USDC	96.853	0	get 0.0000% / 1h	57m 32s	$2.3M	$1.3M	20x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.870	0	get 0.0000% / 1h	57m 32s	$103K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against RISEx. 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 RISExbpFee DeribitbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.023%: $4.03
Slippage, 4 orders: −$6.78
Fee RISEx: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$15.75
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Deribit: live order book, 11 min ago.

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 RISEx live order book, 1 min ago	0.83 bp	3.8 bp −$4	4.7 bp −$47	doesn't fit	doesn't fit
Sell Deribit live order book, 11 min ago	0.52 bp	8.1 bp −$8	8.6 bp −$86	doesn't fit	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	−1.159%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.210%	$234K	$440K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.877	+0.025%	$337K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.840	−0.014%	$146.1M	$398.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.840	−0.014%	$10.4M	$14.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.830	−0.024%	$15.9M	$23.9M	50x	as long as short
RISEx BZ/USDClong	0.0000%	1h	96.853	long leg	$2.3M	$1.3M	20x
Gate BZ_USDT	0.0000%	8h	96.810	−0.045%	$9.2M	$12.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.850	−0.003%	$27.7M	$16.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.668	−0.191%	$9.3M	$7.4M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.828	−0.026%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.860	+0.007%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	96.870	+0.017%	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.700	−0.158%	$308K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.870	+0.017%	$1.2M	$88K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	96.840	−0.014%	$1.5M	$91K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.398	+0.562%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.739	−0.118%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.880	+0.028%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.851	−0.002%	$687K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.87	+4.147%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.854	+0.001%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.849	−0.004%	$151.8M	$138.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.895	+0.043%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.820	−0.034%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.880	+0.028%	$3.8M	$918K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.890	+0.038%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	96.910	+0.059%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0202% / S +0.0119%	1h	96.865	+0.012%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.870	+0.017%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0317%	1h	96.775	−0.081%	$7K	$44K	5x	as long as short