BZ Funding Rate — perpetuals across 9 venues

TradFi perpetual · compared across 9 venues · net of estimated fees · updated every few minutes

BZ is a commodity-linked perpetual referencing BZ. Its price tracks the commodity, not an equity.

Live annualized BZ perpetual funding across all 9 venues Perpia tracks. Right now BZ funding is positive on 0 and negative on 5, ranging from +0.0% on Variational to -33.3% on KuCoin — a spread of 33.3%. The widest delta-neutral trade is long KuCoin / short Variational at 31.3% net APR.

9venues

0paying positive

33.3%funding spread

Best BZ spread now

31.3%

net APR after fees

LongKuCoin↗→ShortVariational↗

size depends on live venue depth — see the real cap in the scanner

BZ funding trend & liquidity

168h of history

33.3%current gross APR

6.4%24h average

-0.9%7-day average

$5.0Mpair OI · lower leg

$1.2M24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

BZ · KuCoin → Variational — no history

Loading BZ rate history…

Build a route

any two of the 9 venues

Long (pays you)every 4hShort (you collect)every 4h

Gross spread+33.3%+$9.12 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 9 venues

Venue	Funding APR ↓	Interval
Variational↗short	+0.0%	every 4h
Risex↗	+0.0%	every 1h
Aster↗	+0.0%	every 4h
GMTrade↗	+0.0%	every 1h
Bybit↗	−10.0%	every 8h
OKX↗	−11.9%	every 4h
Gate.io↗	−17.2%	every 8h
Bitget↗	−22.8%	every 4h
KuCoin↗long	−33.3%	every 4h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the KuCoin vs Variational page. 28 pairs scanned for BZ.

BZ arbitrage — 30-day backtest

long KuCoin · short Variational

1.6%backtested APR

+$14historical net P&L on $10,000

0.22%max drawdown

$10,000$10,014

30 days agostarting capital $10,000today

Over the last 30 days, holding long KuCoin / short Variational would have produced 1.6% APR — versus the 31.3% the live spread implies right now (equity $10,000 → $10,014). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading BZ backtest…

BZ — FAQ

Is BZ funding positive right now?

BZ perpetual funding is positive on 0 of 9 venues Perpia tracks and negative on 5. The highest is +0.0% on Variational; the lowest is -33.3% on KuCoin.

What is the best BZ funding arbitrage right now?

Go long KuCoin and short Variational for about 31.3% net APR after fees — the widest delta-neutral BZ spread Perpia currently sees.

Which exchange has the highest BZ funding rate?

Variational, at +0.0% annualized. Funding shifts continuously, so check the live table above before trading.

How BZ funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to BZ

also quoted on both KuCoin and Variational

The same two exchanges you would already have funded for the BZ trade. Every spread between them is on the KuCoin vs Variational page.

Open the live scanner →All funding rates Funding by exchange How we calculate this