Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.003%

Price spread now: gTrade (Gains Network) against Bybit+0.077%312s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.077% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 312 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	95.580	−0.0039	get 0.0039% / 8h	6h 55m	$10.1M	$14.7M	100x
Short	gTrade (Gains Network) BRENT/USD	95.654	L +0.0011% / S −0.0011%	get 0.0001% / 1h	55m 07s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.077%Rate

Funding earned: $10.51
Price spread: +0.077% → 0.000%: $7.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$2.79
Costs to cover: 0.210%
Break-even: 8.9 days

Slippage unknown: Bybit: live order book, 3 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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	0.52 bp	8.5 bp −$9	10.3 bp −$103	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_BRENTOILUSD	−0.0338%	1h	95.554	−0.027%	$81K	$205K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.505	−0.078%	$2.4M	$1.8M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0154%	4h	95.254	−0.342%	$13K	$318K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0110%	1h	95.340	−0.251%	$3.0M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.320	−0.272%	$276K	$593K	15x	as long as short
Bybit BZUSDTlong	−0.0039%	8h	95.580	long leg	$10.1M	$14.7M	100x
BloFin BZ-USDT	−0.0005%	4h	95.470	−0.115%	$1.5M	$102K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.550	−0.031%	$329K	$703K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.600	+0.021%	$146.7M	$395.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.590	+0.010%	$16.1M	$23.3M	50x	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	95.530	−0.052%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.600	+0.021%	$28.2M	$23.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.346	−0.244%	$9.2M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.600	+0.021%	$4K	$2.1M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.600	+0.021%	$98K	$269K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.380	−0.209%	$273K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.590	+0.010%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	95.295	−0.298%	$219K	$230K	20x	as long as short
gTrade (Gains Network) BRENT/USDshort	L +0.0011% / S −0.0011%	1h	95.654	+0.077%	—	—	—
Vest BZ-PERP	+0.0012%	1h	99.100	+3.683%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	95.398	−0.190%	$1K	$2K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.590	+0.010%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.604	+0.025%	$754K	$2.7M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	95.480	−0.105%	$33K	—	20x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+0.797%	$8K	$7K	30x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0045%	1h	95.447	−0.139%	$1.6M	$386K	20x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.621	+0.043%	$153.0M	$129.4M	20x	as long as short
Aftermath Perps BRENTUSD	+0.0057%	1h	95.380	−0.209%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.600	+0.021%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.220	−0.377%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0185% / S −0.0707%	1h	95.555	−0.026%	$33K	—	111x	as long as short