Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.061%

Price spread now: Bybit against GRVT+0.010%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

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

costs, in and out, $10k−$340.337% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.280%−$28 on $10k

Price spread, last 3 days (all we have)−0.045%−$4 · spread now +0.010%, 7d avg −0.010%

Together, before fees−0.325%+ Points / potential airdropGRVT: Active · farm board−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.020% dearer against GRVT than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	95.950	0	get 0.0000% / 4h	2h 24m	$34K	$406K	25x
Short	Bybit BZUSDT	95.960	0	get 0.0000% / 8h	2h 24m	$10.2M	$17.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.010%: $2.02
Slippage, 4 orders: −$13.66
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.64
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from GRVT: live order book, 62 min ago; Bybit: 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 GRVT live order book, 62 min ago	0.52 bp	7.7 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.52 bp	11.2 bp −$11	13.4 bp −$134	106.7 bp −$10.7K	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0670% / S +0.0459%	1h	95.925	−0.026%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.398	−0.575%	$10K	$4K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.104%	$232K	$859K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.991	+0.043%	$335K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.950	0.000%	$145.6M	$488.5M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	95.960	+0.010%	$10.2M	$17.2M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	95.950	0.000%	$15.8M	$30.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.954	+0.004%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	95.930	−0.021%	$9.1M	$19.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.940	−0.010%	$27.5M	$24.1M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	95.922	−0.030%	$9.5M	$11.1M	—	as long as short
GRVT BZ_USDT_Perplong	0.0000%	4h	95.950	long leg	$34K	$406K	25x
SunX BRENTOIL-USDT	0.0000%	4h	95.940	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.960	+0.010%	$102K	$281K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.880	−0.073%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.940	−0.010%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	95.961	+0.012%	$220K	$233K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.950	0.000%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.936	−0.015%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.273%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.019	+0.072%	$1.5M	$549K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.940	−0.010%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0052%	8h	95.978	+0.029%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0059%	4h	95.960	+0.010%	$1.5M	$97K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0068%	1h	96.015	+0.068%	$148.2M	$147.2M	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.920	−0.031%	$3.8M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.020	+0.073%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	95.972	+0.023%	$81K	$263K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0161%	1h	96.021	+0.074%	$6K	$45K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0384%	1h	96.040	+0.094%	$33K	—	20x	as long as short