Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against OKX−0.021%80s7-day average +0.004% · 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—prices read too far apart to compare

costs, in and out, $10k−$540.542% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.021%, 7d avg +0.004%

Together, before fees+0.245%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.025% cheaper against OKX than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.004%). If the spread goes back, that is −$2 on $10k: about 20 hours of funding at the current rate (+$3 a day). The two prices were read 80 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	OKX BZ-USDT-SWAP	97.500	0	get 0.0000% / 4h	3h 04m	$16.1M	$20.5M	50x
Short	ApeX Omni BZUSDT	97.480	0.0100	get 0.0013% / 1h	4m 15s	$26K	$274K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.021%Rate

Funding earned: $21
Price spread: −0.021% → +0.004%: −$2.46
Slippage, 4 orders: −$34.22
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$35.67
Costs to cover: 0.542%
Break-even: 18.9 days

Slippage from OKX: live order book, 4 min ago; ApeX Omni: live order book, 48 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 OKX live order book, 4 min ago	0.51 bp	6.0 bp −$6	9.6 bp −$96	24.9 bp −$2,489	doesn't fit
Sell ApeX Omni live order book, 48 min ago	8.74 bp	21.3 bp −$21	180.9 bp −$1,809	doesn't fit	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	96.536	−0.989%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.460	−0.041%	$237K	$443K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.491	−0.009%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.490	−0.010%	$147.4M	$366.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.490	−0.010%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	97.500	long leg	$16.1M	$20.5M	50x
RISEx BZ/USDC	0.0000%	1h	97.482	−0.018%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.500	0.000%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.468	−0.033%	$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	97.490	−0.010%	$26K	$314K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.510	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.490	−0.010%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.460	−0.041%	$280K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.540	+0.041%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.467	−0.034%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.043	+0.557%	—	—	—	as long as short
BloFin BZ-USDT	+0.0022%	4h	97.490	−0.010%	$1.5M	$97K	50x	as long as short
Vest BZ-PERP	+0.0023%	1h	101.56	+4.164%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.500	0.000%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.505	+0.005%	$680K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.494	−0.006%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.514	+0.014%	$153.8M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.525	+0.026%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.450	−0.051%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.482	−0.018%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0074%	1h	97.468	−0.033%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.570	+0.072%	$3.8M	$848K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	97.480	−0.021%	$26K	$274K	50x
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.500	0.000%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0277% / S −0.1819%	1h	97.495	−0.005%	$115K	—	111x	as long as short