Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0358%/8h= −39.2% APRpaid last 24h −0.020%

Price spread now: Bybit against Aftermath Perps−0.032%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.032% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BRENTUSD	96.641	0.0358	pay 0.0045% / 1h	11m 00s	$7K	$45K	5x
Short	Bybit BZUSDT	96.610	0	get 0.0000% / 8h	7h 11m	$10.4M	$15.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aftermath Perps. 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 Aftermath PerpsbpFee BybitbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$75.16
Price spread: −0.032% → 0.000%: −$3.22
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$98.39
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Bybit: live order book, 2 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.52 bp	9.0 bp −$9	14.1 bp −$141	119.5 bp −$11.9K	doesn't fit

Aftermath Perps: 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	95.731	−0.942%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	+0.009%	$234K	$440K	15x	as long as short
BloFin BZ-USDT	−0.0049%	4h	96.600	−0.043%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.646	+0.005%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.630	−0.012%	$145.7M	$405.7M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.610	−0.032%	$10.4M	$15.2M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.610	−0.032%	$15.9M	$24.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.593	−0.050%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.580	−0.063%	$9.2M	$14.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.630	−0.012%	$27.6M	$17.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.609	−0.033%	$9.3M	$7.4M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.640	−0.001%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.630	−0.012%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.650	+0.009%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.580	−0.063%	$307K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.640	−0.001%	$1.2M	$92K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	96.651	+0.010%	$221K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.158	+0.535%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.647	+0.006%	$83K	$220K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.630	−0.012%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.640	−0.001%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.637	−0.004%	$722K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0032%	1h	96.540	−0.105%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0045%	8h	96.607	−0.036%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.67	+4.169%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.661	+0.021%	$151.6M	$139.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.674	+0.034%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.660	+0.020%	$3.8M	$946K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.680	+0.040%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0130%	1h	96.625	−0.017%	$121K	—	111x	as long as short
Aftermath Perps BRENTUSDlong	+0.0358%	1h	96.641	long leg	$7K	$45K	5x