Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.004%

Price spread now: Bybit against BloFin+0.072%112s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as 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−$320.318% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.332%+$33 · spread now +0.072%, 7d avg +0.012%

Together, before fees+0.225%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.060% dearer against BloFin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 112 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	BloFin BZ-USDT	96.900	−0.0004	get 0.0002% / 4h	1h 27m	$1.5M	$86K	50x
Short	Bybit BZUSDT	96.970	0	get 0.0000% / 8h	5h 27m	$10.3M	$13.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0.82
Price spread: +0.072% → +0.012%: $6.02
Slippage, 4 orders: −$8.75
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.92
Costs to cover: 0.318%
Break-even: 220.1 days

Slippage from BloFin: live order book, 5 min ago; Bybit: live order book, 6 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 BloFin live order book, 5 min ago	0.52 bp	7.5 bp −$8	9.1 bp −$91	16.6 bp −$1,663	doesn't fit
Sell Bybit live order book, 6 min ago	0.52 bp	7.7 bp −$8	11.1 bp −$111	96.0 bp −$9,600	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	96.164	−0.760%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	0.000%	$233K	$431K	15x	as long as short
BloFin BZ-USDTlong	−0.0004%	4h	96.900	long leg	$1.5M	$86K	50x
Aster BZUSDT	0.0000%	4h	96.972	+0.075%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.980	+0.083%	$146.8M	$373.9M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.970	+0.072%	$10.3M	$13.3M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.970	+0.072%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.970	+0.072%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.940	+0.041%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.990	+0.093%	$27.4M	$16.4M	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	96.885	−0.015%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.909	+0.009%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	+0.072%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	+0.062%	$103K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	+0.021%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.980	+0.083%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	96.894	−0.006%	$222K	$229K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.530	+0.650%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.980	+0.083%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.991	+0.094%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0043%	1h	101.04	+4.272%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.981	+0.084%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.991	+0.094%	$152.0M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.026	+0.130%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	0.000%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.020	+0.124%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	0.000%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0152%	1h	96.990	+0.093%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0165%	1h	96.931	+0.032%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0043%	1h	96.975	+0.077%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.998	+0.102%	$84K	$218K	20x	as long as short