Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended−0.009%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.009%, 7d avg +0.011%

Together, before fees−0.089%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.020% cheaper against Extended than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.819	0.0032	pay 0.0004% / 1h	19m 43s	$673K	$5.1M	10x
Short	Bybit BZUSDT	96.810	0	get 0.0000% / 8h	6h 19m	$10.3M	$13.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$6.72
Price spread: −0.009% → +0.011%: −$2.02
Slippage, 4 orders: −$9.03
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.78
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Bybit: live order book, 4 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 Extended live order book, 4 min ago	0.62 bp	3.7 bp −$4	12.4 bp −$124	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.52 bp	8.9 bp −$9	12.4 bp −$124	93.1 bp −$9,305	doesn't fit

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	96.070	−0.773%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	−0.009%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.827	+0.009%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.831	+0.013%	$146.4M	$379.5M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.810	−0.009%	$10.3M	$13.8M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.820	+0.001%	$15.9M	$21.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.760	−0.060%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.770	−0.050%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.840	+0.022%	$27.6M	$16.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.747	−0.074%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.764	−0.057%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.790	−0.030%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.790	−0.030%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	−0.071%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.770	−0.050%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	96.749	−0.072%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.307	+0.504%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	96.790	−0.030%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.830	+0.012%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	96.819	long leg	$673K	$5.1M	10x
Vest BZ-PERP	+0.0046%	1h	100.83	+4.143%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.770	−0.051%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.842	+0.024%	$151.7M	$127.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.843	+0.025%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.740	−0.081%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	+0.043%	$3.8M	$886K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.050%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0208% / S +0.0087%	1h	96.785	−0.035%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0247%	1h	96.792	−0.028%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.812	−0.007%	$83K	$218K	20x	as long as short