Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.3% APRpaid last 24h −0.003%

Price spread now: Bybit against gTrade (Gains Network)−0.562%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.562% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$56 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BRENT/USD	97.307	L +0.0011% / S −0.0011%	pay 0.0001% / 1h	47m 02s	—	—	—
Short	Bybit BZUSDT	96.760	0	get 0.0000% / 8h	6h 47m	$10.3M	$14.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.562%Rate

Funding earned: −$2.4
Price spread: −0.562% → 0.000%: −$56.21
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.61
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 1 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.52 bp	8.7 bp −$9	12.4 bp −$124	93.3 bp −$9,330	doesn't fit

gTrade (Gains Network): 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	95.962	−1.382%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.675%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.562%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.785	−0.537%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.790	−0.531%	$145.9M	$392.8M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.760	−0.562%	$10.3M	$14.5M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.780	−0.542%	$15.9M	$23.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.792	−0.529%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.750	−0.572%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.770	−0.552%	$27.7M	$16.6M	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	96.860	−0.459%	$9.4M	$7.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.758	−0.565%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.810	−0.511%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.810	−0.511%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.780	−0.542%	$308K	$223K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.800	−0.521%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	96.759	−0.563%	$222K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USDlong	L +0.0011% / S −0.0011%	1h	97.307	long leg	—	—	—
Lighter BRENTOIL	+0.0032%	1h	96.790	−0.531%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.787	−0.535%	$673K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.82	+3.610%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.793	−0.528%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.803	−0.518%	$151.6M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.842	−0.478%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.790	−0.531%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.820	−0.500%	$3.8M	$914K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.820	−0.500%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	96.830	−0.490%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0110%	1h	96.775	−0.547%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.819	−0.502%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0290%	1h	96.834	−0.486%	$7K	$44K	5x	as long as short