Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Bybit−0.035%50s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$300.297% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.035%, 7d avg +0.001%

Together, before fees+0.142%+ Points / potential airdropGRVT: Active · farm board+$14 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: GRVT is 0.036% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 50 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	97.690	0	get 0.0000% / 8h	2h 12m	$10.3M	$12.6M	100x
Short	GRVT BZ_USDT_Perp	97.656	0	get 0.0000% / 4h	2h 12m	$34K	$307K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.001%: −$3.59
Slippage, 4 orders: −$9.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$33.26
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; GRVT: live order book, 35 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, 6 min ago	0.51 bp	8.0 bp −$8	11.7 bp −$117	78.9 bp −$7,888	doesn't fit
Sell GRVT live order book, 35 min ago	0.51 bp	6.9 bp −$7	8.9 bp −$89	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	96.939	−0.769%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.164%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0030%	4h	97.690	0.000%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.708	+0.018%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.702	+0.012%	$147.8M	$360.7M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.690	long leg	$10.3M	$12.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.710	+0.020%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.681	−0.010%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.670	−0.020%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.710	+0.020%	$27.7M	$17.0M	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	97.609	−0.083%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perpshort	0.0000%	4h	97.656	−0.035%	$34K	$307K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.720	+0.031%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.710	+0.020%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.102%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.680	−0.010%	$1.2M	$81K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.707	+0.017%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.241	+0.564%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.617	−0.075%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0015%	1h	101.73	+4.136%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.710	+0.020%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.700	+0.010%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.699	+0.009%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.699	+0.009%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.712	+0.023%	$154.5M	$124.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.719	+0.030%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.640	−0.051%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0069%	1h	97.638	−0.053%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.740	+0.051%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.660	−0.031%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.695	+0.005%	$116K	—	111x	as long as short