Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: Bybit against tradeXYZ−0.014%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 7 days0.000%$0 · spread now −0.014%, 7d avg −0.026%

Together, before fees−0.207%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	97.534	0.0050	pay 0.0006% / 1h	46m 50s	$153.8M	$125.4M	20x
Short	Bybit BZUSDT	97.520	0	get 0.0000% / 8h	2h 46m	$10.4M	$12.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$10.5
Price spread: −0.014% → −0.026%: $1.2
Slippage, 4 orders: −$6.83
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.13
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; Bybit: live order book, 1 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 tradeXYZ live order book, 3 min ago	0.05 bp	9.9 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.51 bp	8.7 bp −$9	12.6 bp −$126	116.6 bp −$11.7K	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	96.684	−0.871%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.460	−0.076%	$237K	$441K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.517	−0.018%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.510	−0.025%	$147.5M	$364.6M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.520	−0.014%	$10.4M	$12.5M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.520	−0.014%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.490	−0.045%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.480	−0.055%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.510	−0.025%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.488	−0.047%	$9.3M	$6.9M	—	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	97.497	−0.038%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.540	+0.006%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.530	−0.004%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.450	−0.086%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.540	+0.006%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.457	−0.079%	$224K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.533	−0.001%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.067	+0.546%	—	—	—	as long as short
Vest BZ-PERP	+0.0020%	1h	101.57	+4.138%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.520	−0.014%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.515	−0.019%	$680K	$3.9M	10x	as long as short
BloFin BZ-USDT	+0.0040%	4h	97.540	+0.006%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.509	−0.026%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	97.534	long leg	$153.8M	$125.4M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.529	−0.005%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.460	−0.076%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0054%	1h	97.490	−0.045%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	97.530	−0.004%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.580	+0.047%	$3.8M	$837K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.520	−0.014%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0295% / S −0.2195%	1h	97.515	−0.019%	$115K	—	111x	as long as short