Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Gate+0.175%81s7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.636% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.175%, 7d avg +0.053%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.122% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.053%. The two prices were read 81 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	Gate BZ_USDT	97.000	0	get 0.0000% / 8h	4h 12m	$9.2M	$12.2M	100x
Short	ApeX Omni BZUSDT	97.170	0.0100	get 0.0013% / 1h	12m 01s	$25K	$274K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.175%Rate

Funding earned: $21
Price spread: +0.175% → +0.053%: $12.18
Slippage, 4 orders: −$38.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$30.46
Costs to cover: 0.636%
Break-even: 17.2 days

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 45 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 Gate live order book, 2 min ago	1.55 bp	12.5 bp −$12	18.7 bp −$187	31.6 bp −$3,164	43.5 bp −$21.7K
Sell ApeX Omni live order book, 45 min ago	8.73 bp	19.2 bp −$19	202.3 bp −$2,023	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	96.433	−0.585%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.247%	$234K	$436K	15x	as long as short
BloFin BZ-USDT	−0.0029%	4h	97.030	+0.031%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.077	+0.079%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.040	+0.041%	$147.0M	$369.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.030	+0.031%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.030	+0.031%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.034	+0.035%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDTlong	0.0000%	8h	97.000	long leg	$9.2M	$12.2M	100x
Bitget BZUSDT	0.0000%	4h	97.030	+0.031%	$27.7M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.168	+0.173%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.140	+0.144%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.070	+0.072%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.040	+0.041%	$104K	$234K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.010	+0.010%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.280	+0.289%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.138	+0.142%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.591	+0.609%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.080	+0.082%	$33K	—	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.08	+4.206%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.040	+0.041%	$3.2M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.040	+0.041%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.041	+0.042%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.068	+0.070%	$153.1M	$127.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.075	+0.077%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.980	−0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.090	+0.093%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	97.170	+0.175%	$25K	$274K	50x
Aftermath Perps BRENTUSD	+0.0127%	1h	97.136	+0.140%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0143%	1h	97.037	+0.039%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0212% / S −0.0144%	1h	97.035	+0.036%	$126K	—	111x	as long as short