Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended−0.003%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.003%, 7d avg +0.011%

Together, before fees−0.084%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	97.043	0.0032	pay 0.0004% / 1h	13m 35s	$680K	$4.4M	10x
Short	Bybit BZUSDT	97.040	0	get 0.0000% / 8h	4h 13m	$10.4M	$12.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$6.72
Price spread: −0.003% → +0.011%: −$1.45
Slippage, 4 orders: −$8.83
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.01
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bybit: live order book, 5 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 Extended live order book, 5 min ago	0.82 bp	4.1 bp −$4	14.5 bp −$145	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.51 bp	7.6 bp −$8	10.9 bp −$109	95.5 bp −$9,546	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	96.433	−0.629%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.203%	$234K	$436K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.093	+0.051%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.040	−0.003%	$147.0M	$369.7M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.040	−0.003%	$10.4M	$12.9M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.050	+0.007%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.032	−0.011%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.990	−0.055%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.040	−0.003%	$27.6M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.168	+0.129%	$9.4M	$6.8M	—	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	97.157	+0.117%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.080	+0.038%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.060	+0.017%	$104K	$233K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.010	−0.034%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.290	+0.254%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.138	+0.097%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.607	+0.581%	—	—	—	as long as short
BloFin BZ-USDT	+0.0025%	4h	97.170	+0.131%	$1.5M	$92K	50x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.12	+4.201%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.060	+0.017%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	97.043	long leg	$680K	$4.4M	10x
Paradex BZ-USD-PERP	+0.0050%	8h	97.041	−0.003%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.076	+0.034%	$153.1M	$127.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.113	+0.072%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.010	−0.034%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.090	+0.048%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.190	+0.151%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0125%	1h	97.179	+0.141%	$7K	$43K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	97.100	+0.059%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.068	+0.026%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0210% / S −0.0132%	1h	97.065	+0.023%	$126K	—	111x	as long as short