Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h 0.000%

Price spread now: OKX against Bybit−0.011%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.011%, 7d avg +0.006%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

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	OKX BZ-USDT-SWAP	94.150	0	get 0.0000% / 4h	1h 44m	$15.8M	$28.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $19.09
Price spread: −0.011% → +0.006%: −$1.71
Slippage, 4 orders: −$8.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$12.17
Costs to cover: 0.295%
Break-even: 11.5 days

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.53 bp	7.0 bp −$7	10.1 bp −$101	34.9 bp −$3,488	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-SWAPshort	0.0000%	4h	94.150	−0.011%	$15.8M	$28.4M	50x
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 BZUSDT	+0.0100%	1h	93.860	−0.319%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	−0.037%	$32K	—	111x	as long as short