Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h +0.007%

Price spread now: Hotstuff against Bybit+0.020%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.020% dearer against Bybit than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.620	0	get 0.0000% / 8h	2h 15m	$10.3M	$12.6M	100x
Short	Hotstuff BRENTOIL-PERP	97.640	−0.0088	pay 0.0011% / 1h	15m 59s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$18.48
Price spread: +0.020% → 0.000%: $2.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$32.43
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Hotstuff: no order-book sample. Net counts fees only.

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	0.51 bp	8.0 bp −$8	11.7 bp −$117	78.9 bp −$7,888	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.698%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.092%	$235K	$430K	15x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0088%	1h	97.640	+0.020%	$34K	—	20x
BloFin BZ-USDT	−0.0044%	4h	97.600	−0.020%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.635	+0.015%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.626	+0.006%	$147.7M	$361.3M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.620	long leg	$10.3M	$12.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.600	−0.020%	$16.1M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.597	−0.023%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.580	−0.041%	$9.3M	$11.7M	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	97.620	0.000%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.558	−0.064%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.640	+0.020%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	+0.031%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.610	−0.010%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.031%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.600	−0.020%	$1.2M	$81K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.540	−0.082%	$225K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.619	−0.001%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.165	+0.559%	—	—	—	as long as short
Vest BZ-PERP	+0.0016%	1h	101.69	+4.169%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.610	−0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.624	+0.004%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.619	−0.001%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.634	+0.014%	$154.3M	$124.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.668	+0.049%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.580	−0.041%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0068%	1h	97.652	+0.032%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.640	+0.020%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.620	0.000%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0327% / S −0.2742%	1h	97.625	+0.005%	$116K	—	111x	as long as short