Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0191%/8h= +20.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Bybit−0.319%69s7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$560.560% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now −0.319%, 7d avg 0.000%

Together, before fees+0.633%+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.318% cheaper against Bybit than usual: you would sell low and buy high (spread −0.319% now, against its 7-day average of 0.000%). If the spread goes back, that is −$32 on $10k: about 5.6 days of funding at the current rate (+$6 a day). The two prices were read 69 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	Bybit BZUSDT	94.160	−0.0091	get 0.0091% / 8h	5h 44m	$10.7M	$16.9M	100x
Short	ApeX Omni BZUSDT	93.860	0.0100	get 0.0013% / 1h	44m 21s	$25K	$274K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.319%Rate

Funding earned: $40.09
Price spread: −0.319% → 0.000%: −$31.82
Slippage, 4 orders: −$34.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$47.7
Costs to cover: 0.560%
Break-even: 15.3 days

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 66 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 Bybit live order book, 2 min ago	0.53 bp	9.6 bp −$10	13.9 bp −$139	93.6 bp −$9,357	doesn't fit
Sell ApeX Omni live order book, 66 min ago	8.87 bp	19.2 bp −$19	183.9 bp −$1,839	doesn't fit	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.170	+0.011%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0493%	1h	94.130	−0.032%	$34K	$383K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0342%	1h	94.186	+0.027%	$100K	$270K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.178	+0.020%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.718%	$8K	$7K	30x	as long as short
Bybit BZUSDTlong	−0.0091%	8h	94.160	long leg	$10.7M	$16.9M	100x
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	93.840	−0.340%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0078%	4h	93.835	−0.345%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0036%	4h	94.194	+0.037%	$145.3M	$472.1M	100x	as long as short
edgeX BZUSDC	−0.0017%	4h	93.841	−0.339%	$216K	$232K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.182	+0.023%	$323K	$812K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.150	−0.011%	$15.8M	$28.4M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.160	0.000%	$8.8M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.160	0.000%	$27.5M	$30.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.961	−0.211%	$9.0M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.190	+0.032%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.180	+0.021%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.310	+0.159%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	94.200	+0.042%	$1.5M	$114K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.666	+0.538%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.900	+3.972%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0025%	1h	94.072	−0.093%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	94.205	+0.048%	$1K	$2K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.190	+0.032%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.182	+0.024%	$763K	$3.8M	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0038%	1h	94.202	+0.045%	$131.8M	$186.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.226	+0.070%	$1.5M	$487K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.150	−0.011%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.200	+0.042%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	93.860	−0.319%	$25K	$274K	50x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	−0.037%	$32K	—	111x	as long as short