Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: Ondo Perps against Bybit−0.124%7-day average −0.081% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 7 days+0.140%+$14 · spread now −0.124%, 7d avg −0.081%

Together, before fees+0.318%+ Points / potential airdropOndo Perps: Active · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.043% cheaper against Bybit than usual: you would sell low and buy high (spread −0.124% now, against its 7-day average of −0.081%). If the spread goes back, that is −$4 on $10k: about 2.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.020	0	get 0.0000% / 8h	5h 52m	$10.3M	$13.5M	100x
Short	Ondo Perps BRENT-USD.P	96.900	0.0050	get 0.0006% / 1h	52m 23s	$3.1M	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.124%Rate

Funding earned: $10.58
Price spread: −0.124% → −0.081%: −$4.26
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.67
Costs to cover: 0.160%
Break-even: 13.4 days

Slippage unknown: Bybit: live order book, 1 min ago; Ondo Perps: 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	8.5 bp −$8	11.9 bp −$119	93.6 bp −$9,362	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Injective BRENT/USDC PERP	−0.0220%	1h	96.207	−0.838%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.216%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.966	−0.056%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.020	0.000%	$146.6M	$375.7M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.020	long leg	$10.3M	$13.5M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.030	+0.010%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.963	−0.058%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.920	−0.103%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.980	−0.041%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.050	+0.031%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.939	−0.083%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.949	−0.073%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.880	−0.144%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.970	−0.052%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.930	−0.093%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.950	−0.072%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.547	+0.544%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.922	−0.101%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.970	−0.052%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.973	−0.048%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.05	+4.154%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.970	−0.051%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.030	+0.010%	$152.0M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.084	+0.066%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	96.900	−0.124%	$3.1M	$1.1M	15x
KuCoin BZUSDTM	+0.0100%	4h	97.040	+0.021%	$3.8M	$877K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.950	−0.072%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0064%	1h	96.955	−0.067%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0203%	1h	96.932	−0.090%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.989	−0.032%	$84K	$218K	20x	as long as short