Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: Bybit against KuCoin+0.072%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.072%, 7d avg −0.018%

Together, before fees−0.331%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.089% dearer against KuCoin than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.018%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.570	0.0100	pay 0.0050% / 4h	2h 29m	$3.8M	$832K	50x
Short	Bybit BZUSDT	97.640	0	get 0.0000% / 8h	2h 29m	$10.4M	$12.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$21
Price spread: +0.072% → −0.018%: $8.94
Slippage, 4 orders: −$14.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.52
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	0.51 bp	11.3 bp −$11	42.4 bp −$424	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.51 bp	8.8 bp −$9	13.4 bp −$134	97.1 bp −$9,708	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	96.783	−0.807%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.041%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0025%	4h	97.510	−0.061%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.642	+0.074%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.639	+0.070%	$147.8M	$362.6M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.640	+0.072%	$10.4M	$12.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.650	+0.082%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.574	+0.004%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.540	−0.031%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.590	+0.020%	$9.3M	$11.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.640	+0.072%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.490	−0.082%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.509	−0.062%	$34K	$327K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.540	−0.031%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.530	−0.041%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.500	−0.072%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	−0.061%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.479	−0.093%	$224K	$229K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.511	−0.060%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.177	+0.622%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	101.64	+4.171%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.570	0.000%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.575	+0.005%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.563	−0.007%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.661	+0.093%	$154.2M	$124.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.637	+0.069%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.480	−0.092%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0054%	1h	97.530	−0.041%	$7K	$42K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.570	long leg	$3.8M	$832K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.510	−0.061%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0314% / S −0.2592%	1h	97.615	+0.046%	$116K	—	111x	as long as short