Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.018%

Price spread now: Ondo Perps against Bybit−0.103%7-day average −0.082% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 7 days+0.127%+$13 · spread now −0.103%, 7d avg −0.082%

Together, before fees+0.320%+ Points / potential airdropOndo Perps: Active · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.020% cheaper against Bybit than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.082%). If the spread goes back, that is −$2 on $10k: about 2.4 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.194% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.230	0	get 0.0000% / 8h	33m 59s	$10.2M	$13.3M	100x
Short	Ondo Perps BRENT-USD.P	97.130	0.0028	get 0.0003% / 1h	33m 59s	$3.1M	$997K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.103%Rate

Funding earned: $5.88
Price spread: −0.103% → −0.082%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$12.17
Costs to cover: 0.160%
Break-even: 21.5 days

Slippage unknown: Bybit: live order book, 4 min ago; Ondo Perps: no order-book sample. 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 Bybit live order book, 4 min ago	0.51 bp	9.5 bp −$9	11.3 bp −$113	81.7 bp −$8,166	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.605	−0.643%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.072%	$236K	$412K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0032%	1h	97.250	+0.021%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.262	+0.033%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.250	+0.021%	$149.2M	$352.9M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.230	long leg	$10.2M	$13.3M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.250	+0.021%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.211	−0.020%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.200	−0.031%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.210	−0.021%	$27.8M	$18.3M	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	97.286	+0.058%	$9.5M	$6.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.360	+0.134%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.220	−0.010%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.180	−0.051%	$100K	$254K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.093%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.480	+0.257%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.29	+4.176%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.311	+0.084%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.733	+0.517%	—	—	—	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0028%	1h	97.130	−0.103%	$3.1M	$997K	15x
Lighter BRENTOIL	+0.0032%	1h	97.210	−0.021%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.185	−0.046%	$738K	$3.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.226	−0.004%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.264	+0.035%	$155.0M	$114.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.226	−0.004%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDT	+0.0050%	4h	97.190	−0.041%	$1.5M	$98K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.327	+0.100%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.220	−0.010%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.330	+0.103%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.212	−0.018%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.235	+0.005%	$115K	—	111x	as long as short