Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.4% APRpaid last 24h +0.004%

Price spread now: Bybit against BloFin−0.041%102s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as 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−$330.330% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.243%+$24 · spread now −0.041%, 7d avg +0.013%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.054% cheaper against BloFin than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of +0.013%). If the spread goes back, that is −$5 on $10k: about 15 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.107%, so the current rate has only just turned in your favour. The two prices were read 102 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	BloFin BZ-USDT	97.330	−0.0012	get 0.0006% / 4h	41m 33s	$1.5M	$92K	50x
Short	Bybit BZUSDT	97.290	0	get 0.0000% / 8h	4h 41m	$10.4M	$13.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $2.59
Price spread: −0.041% → +0.013%: −$5.38
Slippage, 4 orders: −$9.99
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.78
Costs to cover: 0.330%
Break-even: 103.7 days

Slippage from BloFin: live order book, 1 min ago; Bybit: live order book, 2 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 BloFin live order book, 1 min ago	1.03 bp	7.0 bp −$7	9.4 bp −$94	15.6 bp −$1,561	doesn't fit
Sell Bybit live order book, 2 min ago	0.51 bp	8.4 bp −$8	11.0 bp −$110	100.2 bp −$10.0K	doesn't fit

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	96.376	−0.980%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.092%	$234K	$437K	15x	as long as short
BloFin BZ-USDTlong	−0.0012%	4h	97.330	long leg	$1.5M	$92K	50x
Aster BZUSDT	0.0000%	4h	97.289	−0.042%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.314	−0.016%	$147.1M	$371.2M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.290	−0.041%	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	−0.051%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.301	−0.030%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.250	−0.082%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.320	−0.010%	$27.5M	$16.3M	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	97.257	−0.075%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.295	−0.036%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.340	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	0.000%	$104K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	−0.041%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	0.000%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.311	−0.019%	$223K	$226K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.869	+0.554%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.320	−0.010%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.336	+0.006%	$678K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0035%	1h	101.35	+4.130%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.308	−0.023%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.336	+0.006%	$153.0M	$125.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.373	+0.044%	$1.6M	$494K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.280	−0.051%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	97.330	0.000%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.330	0.000%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.320	−0.010%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0102%	1h	97.314	−0.016%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.343	+0.014%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.325	−0.005%	$126K	—	111x	as long as short