Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: ApeX Omni against Phemex+0.082%77s7-day average −0.205% · you sell dearer than you buy

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

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 4 days (all we have)−0.387%−$39 · spread now +0.082%, 7d avg −0.205%

Together, before fees−0.639%−$64 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.287% dearer against Phemex than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.205%. Mind the row above: over the last 7 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour. The two prices were read 77 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	Phemex XBRUSDT	97.750	0	get 0.0000% / 4h	1h 30m	$1.2M	$86K	100x
Short	ApeX Omni BZUSDT	97.830	0.0100	get 0.0013% / 1h	30m 16s	$26K	$273K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.082%Rate

Funding earned: $21
Price spread: +0.082% → −0.205%: $28.69
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $27.69
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phemex: live order book, 2 min ago; ApeX Omni: live order book, 12 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 Phemex live order book, 2 min ago	14.81 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 12 min ago	8.69 bp	20.3 bp −$20	182.0 bp −$1,820	doesn't fit	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	97.018	−0.749%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	+0.061%	$236K	$417K	15x	as long as short
BloFin BZ-USDT	−0.0024%	4h	97.770	+0.020%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.748	−0.002%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.759	+0.009%	$147.8M	$349.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.740	−0.010%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.730	−0.020%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.751	+0.002%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.700	−0.051%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.750	0.000%	$27.9M	$17.3M	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	97.768	+0.018%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.840	+0.092%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.810	+0.061%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.740	−0.010%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.750	0.000%	$281K	$253K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	97.750	long leg	$1.2M	$86K	100x
Vest BZ-PERP	+0.0010%	1h	101.88	+4.225%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.316	+0.579%	—	—	—	as long as short
edgeX BZUSDC	+0.0016%	4h	97.812	+0.064%	$225K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.750	0.000%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.754	+0.004%	$682K	$3.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.775	+0.026%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.743	−0.007%	$155.1M	$116.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.780	+0.031%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.720	−0.031%	$3.1M	$1.0M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.790	+0.041%	$34K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0081%	1h	97.800	+0.051%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.760	+0.010%	$3.8M	$809K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	97.830	+0.082%	$26K	$273K	50x
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.765	+0.015%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.785	+0.036%	$116K	—	111x	as long as short