Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Gate against ApeX Omni−0.031%81s7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.650% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.303%−$30 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now −0.031%, 7d avg −0.057%

Together, before fees−0.314%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.026% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.057%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BZUSDT	96.620	0.0100	pay 0.0013% / 1h	7m 55s	$25K	$272K	50x
Short	Gate BZ_USDT	96.590	0	get 0.0000% / 8h	7h 07m	$9.2M	$14.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.031%Rate

Funding earned: −$21
Price spread: −0.031% → −0.057%: $2.55
Slippage, 4 orders: −$39.95
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$83.4
Costs to cover: 0.650%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 64 min ago; Gate: 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, 64 min ago	8.84 bp	20.1 bp −$20	200.5 bp −$2,005	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.52 bp	13.0 bp −$13	21.8 bp −$218	29.9 bp −$2,989	42.3 bp −$21.1K

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	−0.920%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	+0.031%	$234K	$440K	15x	as long as short
BloFin BZ-USDT	−0.0021%	4h	96.690	+0.072%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.632	+0.013%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.640	+0.021%	$145.7M	$404.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.610	−0.010%	$10.4M	$15.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.620	0.000%	$15.9M	$24.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.617	−0.003%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	96.590	−0.031%	$9.2M	$14.4M	100x
Bitget BZUSDT	0.0000%	4h	96.630	+0.010%	$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	−0.011%	$9.3M	$7.4M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.640	+0.021%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.650	+0.031%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.650	+0.031%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.570	−0.052%	$307K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.630	+0.010%	$1.2M	$92K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	96.589	−0.032%	$221K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.165	+0.564%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.645	+0.026%	$83K	$220K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.630	+0.010%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.633	+0.014%	$723K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0036%	1h	96.610	−0.010%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0045%	8h	96.624	+0.005%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.67	+4.192%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.652	+0.033%	$151.6M	$137.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.684	+0.066%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.660	+0.041%	$3.8M	$932K	50x	as long as short
ApeX Omni BZUSDTlong	+0.0100%	1h	96.620	long leg	$25K	$272K	50x
Hotstuff BRENTOIL-PERP	+0.0168%	1h	96.680	+0.062%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0199% / S +0.0128%	1h	96.635	+0.016%	$125K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0348%	1h	96.656	+0.038%	$7K	$45K	5x	as long as short