Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.017%

Price spread now: BloFin against Bybit+0.010%72s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as 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−$350.345% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 3 days (all we have)−0.128%−$13 · spread now +0.010%, 7d avg −0.013%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.024% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.013%. The two prices were read 72 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	Bybit BZUSDT	96.020	0	get 0.0000% / 8h	1h 16m	$10.3M	$15.9M	100x
Short	BloFin BZ-USDT	96.030	−0.0005	pay 0.0002% / 4h	1h 16m	$1.5M	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. 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 BybitbpFee BloFinbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$0.99
Price spread: +0.010% → −0.013%: $2.37
Slippage, 4 orders: −$11.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$33.13
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BloFin: 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 Bybit live order book, 2 min ago	0.52 bp	9.9 bp −$10	16.3 bp −$163	110.3 bp −$11.0K	doesn't fit
Sell BloFin live order book, 2 min ago	0.52 bp	8.7 bp −$9	11.2 bp −$112	25.8 bp −$2,579	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	96.005	−0.016%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.803%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.017	−0.003%	$2.2M	$1.3M	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0053%	1h	95.990	−0.031%	$3.0M	$1.1M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.031%	$232K	$638K	15x	as long as short
BloFin BZ-USDTshort	−0.0005%	4h	96.030	+0.010%	$1.5M	$95K	50x
Aster BZUSDT	0.0000%	4h	96.027	+0.007%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.011	−0.010%	$145.6M	$476.3M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	96.020	long leg	$10.3M	$15.9M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	95.990	−0.031%	$15.8M	$27.2M	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	95.970	−0.052%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.000	−0.021%	$27.4M	$21.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.059%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.005	−0.016%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.030	+0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	+0.010%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.940	−0.083%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.030	+0.010%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	0.0000%	4h	95.954	−0.068%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0006%	1h	96.053	+0.035%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0017%	8h	96.004	−0.016%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.020	0.000%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.934	−0.089%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.04	+4.187%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.054	+0.035%	$147.8M	$146.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.076	+0.058%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.050	+0.031%	$3.8M	$999K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.030	+0.010%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0208%	1h	96.070	+0.052%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.048	+0.029%	$81K	$235K	20x	as long as short