Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Extended against Bybit+0.041%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.041%, 7d avg −0.010%

Together, before fees+0.081%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.051% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.070	0	get 0.0000% / 8h	7h 21m	$10.2M	$13.4M	100x
Short	Extended XBR-USD	97.110	0.0032	get 0.0004% / 1h	21m 27s	$749K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.041%Rate

Funding earned: $6.72
Price spread: +0.041% → −0.010%: $5.08
Slippage, 4 orders: −$10.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.28
Costs to cover: 0.261%
Break-even: 21.9 days

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 2 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, 2 min ago	0.51 bp	8.7 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.85 bp	5.1 bp −$5	13.6 bp −$136	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.150	+0.082%	$100K	$266K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.750%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0084%	1h	96.990	−0.082%	$3.1M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0064%	4h	97.181	+0.114%	$13K	$340K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.240	+0.175%	$237K	$410K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.077	+0.007%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.141	+0.073%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.061	−0.010%	$336K	$707K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.070	0.000%	$147.9M	$358.0M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.070	long leg	$10.2M	$13.4M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	97.070	0.000%	$16.2M	$20.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.010	−0.062%	$9.2M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.080	+0.010%	$27.9M	$19.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.246	+0.181%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.130	+0.062%	$4K	$2.3M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	+0.010%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.220	+0.155%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	100.98	+4.028%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.706	+0.655%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.177	+0.111%	$224K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.060	−0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	97.110	+0.041%	$749K	$2.7M	10x
Paradex BZ-USD-PERP	+0.0044%	8h	97.073	+0.003%	$2K	$1K	5x	as long as short
BloFin BZ-USDT	+0.0047%	4h	97.220	+0.155%	$1.5M	$101K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.099	+0.030%	$154.4M	$116.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.105	+0.036%	$1.6M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0059%	1h	97.268	+0.204%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.100	+0.031%	$3.8M	$787K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	+0.155%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0160%	1h	97.100	+0.031%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.235	+0.170%	$115K	—	111x	as long as short