Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: tradeXYZ against Bybit0.000%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$360.365% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 7 days+0.013%+$1 · spread now 0.000%, 7d avg +0.026%

Together, before fees+0.220%+ Points / potential airdroptradeXYZ: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.026% cheaper against Bybit than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.026%). If the spread goes back, that is −$3 on $10k: about 42 hours 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	97.760	0	get 0.0000% / 8h	1h 23m	$10.4M	$13.1M	100x
Short	tradeXYZ xyz:BRENTOIL	97.760	0.0050	get 0.0006% / 1h	23m 05s	$155.2M	$115.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.5
Price spread: 0.000% → +0.026%: −$2.63
Slippage, 4 orders: −$7.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$28.62
Costs to cover: 0.365%
Break-even: 26.1 days

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 7 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, 5 min ago	0.51 bp	8.8 bp −$9	10.9 bp −$109	100.9 bp −$10.1K	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.05 bp	9.3 bp −$9	10.2 bp −$102	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
Injective BRENT/USDC PERP	−0.0220%	1h	97.018	−0.759%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	+0.051%	$236K	$417K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.749	−0.012%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.750	−0.010%	$147.9M	$349.0M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.760	long leg	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.740	−0.020%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.752	−0.008%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.710	−0.051%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.740	−0.020%	$27.9M	$17.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.748	−0.012%	$9.4M	$6.9M	—	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	97.798	+0.039%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.810	+0.051%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.760	0.000%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.730	−0.031%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.950	+0.194%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.760	0.000%	$225K	$227K	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.91	+4.245%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.347	+0.600%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.750	−0.010%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.747	−0.013%	$682K	$3.3M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	97.790	+0.031%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.787	+0.028%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.760	0.000%	$155.2M	$115.6M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.827	+0.069%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.720	−0.041%	$3.1M	$1.0M	15x	as long as short
BloFin BZ-USDT	+0.0058%	4h	97.740	−0.020%	$1.5M	$97K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0085%	1h	97.776	+0.017%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.790	+0.031%	$3.8M	$808K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.790	+0.031%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.782	+0.023%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.795	+0.036%	$116K	—	111x	as long as short