Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: ApeX Omni against Phemex+0.021%7-day average −0.212% · you sell dearer than you buy

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

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 3 days (all we have)−0.324%−$32 · spread now +0.021%, 7d avg −0.212%

Together, before fees−0.576%−$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.233% dearer against Phemex than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of −0.212%. Mind the row above: over the last 7 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	96.950	0	get 0.0000% / 4h	1h 48m	$1.2M	$84K	100x
Short	ApeX Omni BZUSDT	96.970	0.0100	get 0.0013% / 1h	48m 48s	$25K	$273K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.021%Rate

Funding earned: $21
Price spread: +0.021% → −0.212%: $23.26
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $22.26
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; ApeX Omni: live order book, 13 min ago. 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 Phemex live order book, 4 min ago	2.06 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 13 min ago	8.78 bp	19.7 bp −$20	184.0 bp −$1,840	doesn't fit	doesn't fit

BZ on 30 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	96.207	−0.766%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.144%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.947	−0.003%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.950	0.000%	$146.5M	$375.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.950	0.000%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.960	+0.010%	$15.9M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.945	−0.005%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.990	+0.041%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.910	−0.041%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.950	0.000%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.006	+0.058%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.063%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	+0.021%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	+0.010%	$103K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	+0.041%	$278K	$269K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	96.950	long leg	$1.2M	$84K	100x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.492	+0.559%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.887	−0.065%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.950	0.000%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.963	+0.014%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.02	+4.198%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.949	−0.001%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.973	+0.024%	$151.9M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.015	+0.067%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.930	−0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.010	+0.062%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	96.970	+0.021%	$25K	$273K	50x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0061%	1h	96.945	−0.005%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0197%	1h	97.000	+0.051%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.977	+0.028%	$84K	$218K	20x	as long as short