Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.005%

Price spread now: Bybit against Hotstuff+0.021%53s7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.021% dearer against Hotstuff than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 34 hours. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BRENTOIL-PERP	97.130	0.0048	pay 0.0006% / 1h	57m 40s	$33K	—	20x
Short	Bybit BZUSDT	97.150	0	get 0.0000% / 8h	3h 57m	$10.4M	$12.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$10.08
Price spread: +0.021% → 0.000%: $2.06
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 6 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	0.51 bp	8.6 bp −$9	12.2 bp −$122	102.6 bp −$10.3K	doesn't fit

Hotstuff: 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	96.433	−0.718%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.050	−0.082%	$233K	$438K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.156	+0.027%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.180	+0.051%	$147.1M	$369.2M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.150	+0.021%	$10.4M	$12.8M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.190	+0.062%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.098	−0.033%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.110	−0.021%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.180	+0.051%	$27.8M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.028	−0.105%	$9.4M	$6.8M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.050	−0.082%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.130	0.000%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.160	+0.031%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	−0.051%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.190	+0.062%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	97.110	−0.021%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.697	+0.583%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.030	−0.103%	$223K	$228K	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.15	+4.139%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.170	+0.041%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.162	+0.032%	$679K	$4.2M	10x	as long as short
Hotstuff BRENTOIL-PERPlong	+0.0048%	1h	97.130	long leg	$33K	—	20x
Paradex BZ-USD-PERP	+0.0050%	8h	97.179	+0.050%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.191	+0.063%	$153.3M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.163	+0.034%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.110	−0.021%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.137	+0.007%	$84K	$206K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.190	+0.062%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.040	−0.093%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0125%	1h	97.081	−0.051%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0223% / S −0.0223%	1h	97.135	+0.005%	$126K	—	111x	as long as short