Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0302%/8h= +33.0% APRpaid last 24h +0.019%

Price spread now: Phemex against RISEx+0.329%7-day average +0.175% · you sell dearer than you buy

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

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.167%+$17 on $10k

Price spread, last 4 days (all we have)−0.208%−$21 · spread now +0.329%, 7d avg +0.175%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.154% dearer against RISEx than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.175%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BZ/USDC	94.250	−0.0302	get 0.0038% / 1h	59m 26s	$2.3M	$1.9M	20x
Short	Phemex XBRUSDT	94.560	0	get 0.0000% / 4h	1h 59m	$1.2M	$81K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.329%Rate

Funding earned: $63.32
Price spread: +0.329% → +0.175%: $15.41
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: $60.73
Costs to cover: 0.180%
Break-even: 0.3 days

Slippage unknown: RISEx: live order book, 2 min ago; 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 RISEx live order book, 2 min ago	1.37 bp	4.4 bp −$4	7.3 bp −$73	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	11.57 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.290	+0.042%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0704%	1h	94.290	+0.042%	$46K	$375K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0343%	1h	94.287	+0.039%	$94K	$260K	20x	as long as short
RISEx BZ/USDClong	−0.0302%	1h	94.250	long leg	$2.3M	$1.9M	20x
Bybit BZUSDT	−0.0081%	8h	94.280	+0.032%	$10.5M	$16.2M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.450	+0.212%	$277K	$860K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0056%	4h	95.287	+1.100%	$13K	$308K	25x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0046%	1h	94.261	+0.012%	$128.9M	$175.8M	20x	as long as short
BloFin BZ-USDT	−0.0022%	4h	94.760	+0.541%	$1.6M	$110K	50x	as long as short
Binance BZUSDT	−0.0013%	4h	94.290	+0.042%	$146.0M	$457.5M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.279	+0.030%	$368K	$789K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.280	+0.032%	$15.9M	$27.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.240	−0.011%	$8.9M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.290	+0.042%	$28.0M	$29.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.763	+0.544%	$9.1M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.340	+0.095%	$4K	$1.8M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.500	+0.265%	$270K	$254K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	94.560	+0.329%	$1.2M	$81K	100x
edgeX BZUSDC	+0.0002%	4h	94.840	+0.626%	$218K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.278	+1.091%	—	—	—	as long as short
Vest BZ-PERP	+0.0017%	1h	98.030	+4.011%	—	$736K	10x	as long as short
Paradex BZ-USD-PERP	+0.0028%	8h	94.263	+0.013%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0028%	1h	94.854	+0.641%	$7K	$38K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.290	+0.042%	$3.5M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.329	+0.084%	$659K	$3.6M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.622%	$8K	$7K	30x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.212	−0.040%	$1.5M	$395K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.240	−0.011%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.360	+0.117%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.640	+0.414%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.325	+0.080%	$32K	—	111x	as long as short