Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Bybit against ApeX Omni+0.010%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.010%, 7d avg +0.003%

Together, before fees−0.322%−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BZUSDT	97.560	0.0100	pay 0.0013% / 1h	3m 26s	$26K	$273K	50x
Short	Bybit BZUSDT	97.570	0	get 0.0000% / 8h	2h 03m	$10.3M	$12.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$21
Price spread: +0.010% → +0.003%: $0.76
Slippage, 4 orders: −$34.83
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$76.08
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 44 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 ApeX Omni live order book, 44 min ago	8.72 bp	19.1 bp −$19	188.6 bp −$1,886	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.51 bp	8.6 bp −$9	12.5 bp −$125	95.9 bp −$9,593	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	96.939	−0.637%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.031%	$235K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.564	+0.004%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.560	0.000%	$147.5M	$357.3M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.570	+0.010%	$10.3M	$12.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.550	−0.010%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.543	−0.017%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.540	−0.021%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.570	+0.010%	$27.7M	$17.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.538	−0.023%	$9.4M	$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	97.560	0.000%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.620	+0.062%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.580	+0.021%	$100K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.560	0.000%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.560	0.000%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	97.522	−0.039%	$225K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.584	+0.025%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.140	+0.595%	—	—	—	as long as short
Vest BZ-PERP	+0.0014%	1h	101.63	+4.172%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.580	+0.021%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.566	+0.006%	$681K	$3.5M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	97.590	+0.031%	$34K	—	20x	as long as short
BloFin BZ-USDT	+0.0045%	4h	97.560	0.000%	$1.5M	$95K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.578	+0.018%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.578	+0.018%	$154.4M	$122.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.594	+0.035%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.530	−0.031%	$3.1M	$995K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0076%	1h	97.592	+0.033%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.600	+0.041%	$3.8M	$831K	50x	as long as short
ApeX Omni BZUSDTlong	+0.0100%	1h	97.560	long leg	$26K	$273K	50x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.585	+0.026%	$116K	—	111x	as long as short