Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.052%73s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as 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−$880.884% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.052%, 7d avg −0.012%

Together, before fees+0.282%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.040% cheaper against SunX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.012%). If the spread goes back, that is −$4 on $10k: about 32 hours of funding at the current rate (+$3 a day). The two prices were read 73 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	SunX BRENTOIL-USDT	96.790	0	get 0.0000% / 4h	2h 35m	$4K	$2.6M	20x
Short	ApeX Omni BZUSDT	96.740	0.0100	get 0.0013% / 1h	35m 41s	$25K	$273K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.052%Rate

Funding earned: $21
Price spread: −0.052% → −0.012%: −$4.01
Slippage, 4 orders: −$70.4
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$71.41
Costs to cover: 0.884%
Break-even: 30.8 days

Slippage from SunX: live order book, 2 min ago; ApeX Omni: live order book, 31 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 SunX live order book, 2 min ago	18.59 bp	22.6 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	8.79 bp	19.2 bp −$19	186.6 bp −$1,866	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	96.070	−0.744%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.145%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.031%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.781	−0.010%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.770	−0.021%	$146.2M	$387.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.770	−0.021%	$10.3M	$14.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.770	−0.021%	$15.9M	$22.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.766	−0.024%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.740	−0.052%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.770	−0.021%	$27.6M	$16.5M	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	96.770	−0.021%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.738	−0.053%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.790	long leg	$4K	$2.6M	20x
HTX BRENTOIL-USDT	0.0000%	4h	96.740	−0.052%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.780	−0.010%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.309	+0.537%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.740	−0.052%	$222K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.770	−0.021%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.780	−0.010%	$673K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.80	+4.143%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.766	−0.025%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.791	+0.001%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.840	+0.052%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.750	−0.041%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.810	+0.021%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0060%	1h	96.830	+0.041%	$103K	$271K	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.850	+0.062%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	96.740	−0.052%	$25K	$273K	50x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0101%	1h	96.785	−0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.809	+0.020%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0267%	1h	96.832	+0.043%	$7K	$45K	5x	as long as short