Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.034%

Price spread now: Bybit against ApeX Omni−0.063%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.487%−$49 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.063%, 7d avg −0.002%

Together, before fees−0.452%−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.061% cheaper against ApeX Omni than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BZUSDT	95.980	0.0100	pay 0.0013% / 1h	26m 57s	$25K	$271K	50x
Short	Bybit BZUSDT	95.920	0	get 0.0000% / 8h	1h 26m	$10.2M	$16.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$21
Price spread: −0.063% → −0.002%: −$6.07
Slippage, 4 orders: −$39.36
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.43
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 55 min ago; Bybit: live order book, 1 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 ApeX Omni live order book, 55 min ago	8.86 bp	20.7 bp −$21	193.3 bp −$1,933	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.52 bp	10.4 bp −$10	17.9 bp −$179	110.7 bp −$11.1K	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	95.915	−0.068%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.931%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0202%	1h	95.890	−0.094%	$3.0M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0080%	1h	95.950	−0.031%	$33K	—	20x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.913	−0.069%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.073%	$232K	$638K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.919	−0.063%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.940	−0.042%	$145.6M	$479.1M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	95.920	−0.063%	$10.2M	$16.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	95.930	−0.052%	$15.8M	$27.5M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.890	−0.094%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.930	−0.052%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	−0.070%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.936	−0.046%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.940	−0.042%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.960	−0.021%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.890	−0.094%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.900	−0.083%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.941	−0.041%	$220K	$232K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0002%	1h	95.923	−0.059%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0008%	8h	95.923	−0.060%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0015%	4h	95.910	−0.073%	$1.5M	$95K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	−0.042%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.907	−0.077%	$670K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+3.980%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.964	−0.017%	$147.5M	$146.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.981	+0.001%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.930	−0.052%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDTlong	+0.0100%	1h	95.980	long leg	$25K	$271K	50x
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.966	−0.014%	$81K	$239K	20x	as long as short