Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.002%

Price spread now: Bybit against edgeX−0.058%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$460.465% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.058%, 7d avg +0.030%

Together, before fees−0.078%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.088% cheaper against edgeX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	97.857	0.0015	pay 0.0008% / 4h	1h 32m	$225K	$228K	20x
Short	Bybit BZUSDT	97.800	0	get 0.0000% / 8h	1h 32m	$10.5M	$13.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$3.16
Price spread: −0.058% → +0.030%: −$8.79
Slippage, 4 orders: −$26.46
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.41
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from edgeX: live order book, 9 min ago; Bybit: live order book, 5 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 edgeX live order book, 9 min ago	10.23 bp	14.7 bp −$15	15.6 bp −$156	64.7 bp −$6,468	doesn't fit
Sell Bybit live order book, 5 min ago	1.02 bp	9.0 bp −$9	12.8 bp −$128	113.0 bp −$11.3K	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	97.018	−0.857%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	−0.048%	$236K	$417K	15x	as long as short
BloFin BZ-USDT	−0.0018%	4h	97.810	−0.048%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.827	−0.030%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.820	−0.038%	$147.9M	$350.2M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.800	−0.058%	$10.5M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.810	−0.048%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.811	−0.048%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.770	−0.089%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.830	−0.028%	$28.0M	$17.3M	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	97.798	−0.060%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.864	+0.007%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.830	−0.028%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.830	−0.028%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.780	−0.079%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	98.100	+0.248%	$1.2M	$86K	100x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.97	+4.203%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.373	+0.527%	—	—	—	as long as short
edgeX BZUSDClong	+0.0015%	4h	97.857	long leg	$225K	$228K	20x
Lighter BRENTOIL	+0.0032%	1h	97.810	−0.048%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.809	−0.049%	$682K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.815	−0.043%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.829	−0.029%	$155.2M	$116.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.885	+0.029%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.770	−0.089%	$3.1M	$996K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0081%	1h	97.856	−0.001%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.820	−0.038%	$3.8M	$809K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.860	+0.003%	$26K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	97.860	+0.003%	$34K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.847	−0.010%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.825	−0.033%	$116K	—	111x	as long as short