Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against Bybit+0.058%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.058%, 7d avg +0.026%

Together, before fees+0.162%+ Points / potential airdroptradeXYZ: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.032% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.240	0	get 0.0000% / 8h	4h 36m	$10.4M	$13.1M	100x
Short	tradeXYZ xyz:BRENTOIL	97.296	0.0050	get 0.0006% / 1h	36m 11s	$153.0M	$124.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.058%Rate

Funding earned: $10.5
Price spread: +0.058% → +0.026%: $3.15
Slippage, 4 orders: −$6.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$21.58
Costs to cover: 0.352%
Break-even: 21.4 days

Slippage from Bybit: live order book, 2 min ago; tradeXYZ: live order book, 4 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	0.51 bp	7.7 bp −$8	10.4 bp −$104	104.0 bp −$10.4K	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.05 bp	9.7 bp −$10	10.8 bp −$108	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	96.571	−0.688%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	0.000%	$234K	$437K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.220	−0.021%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.239	−0.001%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.256	+0.016%	$147.1M	$371.5M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.240	long leg	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.240	0.000%	$16.1M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.253	+0.014%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.210	−0.031%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.260	+0.021%	$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	97.307	+0.069%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.319	+0.082%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.041%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.270	+0.031%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.190	−0.051%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.320	+0.082%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.250	+0.010%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.809	+0.585%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.300	+0.062%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.270	+0.031%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.281	+0.042%	$678K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0034%	1h	101.28	+4.155%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.261	+0.021%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.296	+0.058%	$153.0M	$124.7M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.308	+0.070%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.170	−0.072%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.290	+0.051%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.180	−0.062%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0101%	1h	97.279	+0.040%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.262	+0.023%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0200% / S −0.0061%	1h	97.255	+0.015%	$126K	—	111x	as long as short