Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0100%/8hpaid last 24h +0.034%

Price spread now: ApeX Omni against Bybit−0.031%99s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as 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−$580.583% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.311%+$31 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.031%, 7d avg +0.001%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.033% cheaper against Bybit than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.001%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day). The two prices were read 99 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	Bybit BZUSDT	96.040	0	get 0.0000% / 8h	4h 21m	$10.4M	$16.7M	100x
Short	ApeX Omni BZUSDT	96.010	0.0100	get 0.0013% / 1h	21m 51s	$25K	$271K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.031%Rate

Funding earned: $21
Price spread: −0.031% → +0.001%: −$3.27
Slippage, 4 orders: −$37.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$40.6
Costs to cover: 0.583%
Break-even: 20.5 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 9 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 Bybit live order book, 1 min ago	0.52 bp	8.6 bp −$9	13.4 bp −$134	77.9 bp −$7,792	doesn't fit
Sell ApeX Omni live order book, 9 min ago	8.85 bp	19.6 bp −$20	192.6 bp −$1,926	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	95.676	−0.379%	$10K	$4K	30x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0118% / S +0.0313%	1h	96.045	+0.005%	$109K	—	111x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	96.400	+0.375%	$231K	$842K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.080	+0.042%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0011%	4h	96.050	+0.010%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.085	+0.047%	$332K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.030	−0.010%	$145.2M	$476.6M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	96.040	long leg	$10.4M	$16.7M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.030	−0.010%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.041	+0.001%	$2.2M	$1.2M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.030	−0.010%	$9.1M	$18.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.050	+0.010%	$27.7M	$23.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.975	−0.068%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.990	−0.052%	$37K	$406K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.070	+0.031%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.080	+0.042%	$103K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.083%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.270	+0.239%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	95.988	−0.054%	$220K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.799	+0.791%	—	—	—	as long as short
Ondo Perps BRENT-USD.P	+0.0026%	1h	96.040	0.000%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	96.075	+0.037%	$81K	$265K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.050	+0.010%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.084	+0.045%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.15	+4.279%	—	$664K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.052	+0.012%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.075	+0.036%	$149.3M	$144.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.132	+0.096%	$1.5M	$552K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0058%	1h	96.119	+0.083%	$6K	$48K	5x	as long as short
KuCoin BZUSDTM	+0.0074%	4h	96.010	−0.031%	$3.7M	$967K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	96.010	−0.031%	$25K	$271K	50x