Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.5% APRpaid last 24h +0.010%

Price spread now: Hotstuff against Bybit−0.010%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	95.820	0	get 0.0000% / 8h	1h 46m	$10.2M	$16.7M	100x
Short	Hotstuff BRENTOIL-PERP	95.810	−0.0352	pay 0.0044% / 1h	46m 59s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$73.92
Price spread: −0.010% → 0.000%: −$1.04
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$90.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Hotstuff: 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, 1 min ago	0.52 bp	6.0 bp −$6	12.9 bp −$129	141.4 bp −$14.1K	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0799% / S +0.0481%	1h	95.835	+0.016%	$114K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0586%	1h	95.780	−0.042%	$3.0M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0352%	1h	95.810	−0.010%	$33K	—	20x
Injective BRENT/USDC PERP	−0.0220%	1h	95.248	−0.597%	$8K	$7K	30x	as long as short
Lighter BRENTOIL	−0.0144%	1h	95.830	+0.010%	$3.3M	$4.2M	20x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0127%	1h	95.811	−0.009%	$147.4M	$146.8M	20x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.775	−0.047%	$2.2M	$1.3M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0042%	4h	95.760	−0.063%	$34K	$396K	25x	as long as short
Paradex BZ-USD-PERP	−0.0017%	8h	95.791	−0.030%	$3K	$521	5x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.240%	$232K	$677K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	95.846	+0.027%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.820	0.000%	$145.4M	$482.5M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	95.820	long leg	$10.2M	$16.7M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	95.820	0.000%	$15.8M	$28.7M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.780	−0.042%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.830	+0.010%	$27.4M	$22.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.737	−0.087%	$9.2M	$9.2M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.810	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.870	+0.052%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.790	−0.031%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.890	+0.073%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	95.735	−0.088%	$219K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0013%	1h	95.799	−0.022%	$5K	$45K	5x	as long as short
Extended XBR-USD	+0.0032%	1h	95.899	+0.082%	$674K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.960	+4.321%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.833	+0.014%	$1.5M	$529K	20x	as long as short
BloFin BZ-USDT	+0.0054%	4h	95.840	+0.021%	$1.5M	$95K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.830	+0.010%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.830	+0.010%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0556%	1h	95.856	+0.037%	$81K	$244K	20x	as long as short