Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.004%

Price spread now: BloFin against Bybit−0.041%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.041%, 7d avg −0.012%

Together, before fees+0.067%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.029% cheaper against Bybit than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of −0.012%). If the spread goes back, that is −$3 on $10k: about 8.1 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.104% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.700	0	get 0.0000% / 8h	2h 25m	$10.3M	$12.6M	100x
Short	BloFin BZ-USDT	97.660	0.0012	get 0.0006% / 4h	2h 25m	$1.5M	$97K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.041%Rate

Funding earned: $2.48
Price spread: −0.041% → −0.012%: −$2.88
Slippage, 4 orders: −$7.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$31.37
Costs to cover: 0.310%
Break-even: 95.5 days

Slippage from Bybit: live order book, 3 min ago; BloFin: live order book, 3 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, 3 min ago	0.51 bp	8.0 bp −$8	11.2 bp −$112	93.5 bp −$9,353	doesn't fit
Sell BloFin live order book, 3 min ago	0.51 bp	6.5 bp −$7	8.3 bp −$83	18.3 bp −$1,825	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	96.783	−0.939%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.174%	$235K	$434K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.697	−0.003%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.700	0.000%	$147.9M	$362.0M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.700	long leg	$10.3M	$12.6M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.700	0.000%	$16.1M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.668	−0.033%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.660	−0.041%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.700	0.000%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.619	−0.083%	$9.4M	$7.0M	—	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	97.601	−0.102%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.700	0.000%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.680	−0.020%	$101K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.113%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.680	−0.020%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.704	+0.004%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.231	+0.544%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.644	−0.058%	$225K	$227K	20x	as long as short
BloFin BZ-USDTshort	+0.0012%	4h	97.660	−0.041%	$1.5M	$97K	50x
Vest BZ-PERP	+0.0017%	1h	101.75	+4.145%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.680	−0.020%	$3.3M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.692	−0.008%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.683	−0.017%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.718	+0.018%	$154.3M	$124.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.720	+0.020%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.600	−0.102%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0060%	1h	97.611	−0.091%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.630	−0.072%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.710	+0.010%	$3.8M	$834K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.620	−0.082%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0319% / S −0.2554%	1h	97.685	−0.015%	$116K	—	111x	as long as short