Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Extended against Bybit+0.034%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.034%, 7d avg −0.011%

Together, before fees+0.054%+ Points / potential airdropExtended: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.045% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.310	0	get 0.0000% / 8h	4h 42m	$10.4M	$13.1M	100x
Short	Extended XBR-USD	97.343	0.0032	get 0.0004% / 1h	42m 15s	$678K	$4.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.034%Rate

Funding earned: $6.72
Price spread: +0.034% → −0.011%: $4.49
Slippage, 4 orders: −$9.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.19
Costs to cover: 0.254%
Break-even: 21.8 days

Slippage from Bybit: live order book, 1 min ago; Extended: 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, 1 min ago	0.51 bp	8.5 bp −$8	11.3 bp −$113	89.5 bp −$8,952	doesn't fit
Sell Extended live order book, 2 min ago	0.98 bp	4.3 bp −$4	14.0 bp −$140	doesn't fit	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	−0.960%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.072%	$234K	$437K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.370	+0.062%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0012%	4h	97.330	+0.021%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.310	0.000%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.326	+0.016%	$147.1M	$371.2M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.310	long leg	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.300	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.316	+0.006%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.280	−0.031%	$9.2M	$12.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.340	+0.031%	$27.5M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.257	−0.054%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.295	−0.015%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.340	+0.031%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	+0.021%	$104K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	−0.021%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	+0.021%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.213	−0.099%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.869	+0.575%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.340	+0.031%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	97.343	+0.034%	$678K	$4.5M	10x
Vest BZ-PERP	+0.0035%	1h	101.36	+4.162%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.326	+0.017%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.351	+0.042%	$152.9M	$124.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.377	+0.069%	$1.6M	$494K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.260	−0.051%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.340	+0.031%	$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	+0.004%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.343	+0.034%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.325	+0.015%	$126K	—	111x	as long as short