Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended−0.017%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

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

Long on Extended Short on Bybit

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+0.014%+$1 · spread now −0.017%, 7d avg +0.011%

Together, before fees−0.081%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.028% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.757	0.0032	pay 0.0004% / 1h	22m 32s	$673K	$5.1M	10x
Short	Bybit BZUSDT	96.740	0	get 0.0000% / 8h	6h 22m	$10.3M	$13.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$6.72
Price spread: −0.017% → +0.011%: −$2.83
Slippage, 4 orders: −$9.35
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.9
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Bybit: live order book, 6 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 Extended live order book, 1 min ago	0.62 bp	3.7 bp −$4	12.4 bp −$124	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.52 bp	9.0 bp −$9	12.6 bp −$126	85.2 bp −$8,515	doesn't fit

BZ on 30 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	96.070	−0.710%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	+0.055%	$234K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.760	+0.004%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.760	+0.004%	$146.2M	$380.3M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.740	−0.017%	$10.3M	$13.9M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.760	+0.004%	$15.9M	$21.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.751	−0.005%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.710	−0.048%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.760	+0.004%	$27.6M	$16.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.749	−0.008%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.783	+0.028%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.790	+0.035%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.780	+0.024%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.730	−0.027%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.770	+0.014%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	96.760	+0.004%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.300	+0.561%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.780	+0.024%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.760	+0.004%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	96.757	long leg	$673K	$5.1M	10x
Vest BZ-PERP	+0.0046%	1h	100.81	+4.189%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.752	−0.005%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.770	+0.014%	$151.5M	$127.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.829	+0.075%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.740	−0.017%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.076%	$3.8M	$891K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.760	+0.004%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0207% / S +0.0090%	1h	96.765	+0.009%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0250%	1h	96.814	+0.059%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.795	+0.040%	$83K	$218K	20x	as long as short