Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: Bybit against KuCoin−0.061%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.061%, 7d avg −0.018%

Together, before fees−0.205%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.043% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.900	0.0100	pay 0.0050% / 4h	1h 39m	$3.9M	$823K	50x
Short	Bybit BZUSDT	97.840	0	get 0.0000% / 8h	1h 39m	$10.1M	$12.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$21
Price spread: −0.061% → −0.018%: −$4.34
Slippage, 4 orders: −$15.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.76
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago	0.51 bp	10.5 bp −$10	40.5 bp −$405	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.51 bp	7.0 bp −$7	10.7 bp −$107	115.1 bp −$11.5K	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	96.817	−1.106%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.378%	$235K	$416K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0080%	1h	97.840	−0.061%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0019%	4h	97.760	−0.143%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.894	−0.007%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.890	−0.010%	$147.8M	$351.3M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.840	−0.061%	$10.1M	$12.9M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.870	−0.031%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.854	−0.047%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.810	−0.092%	$9.3M	$10.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.880	−0.020%	$28.0M	$17.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.768	−0.135%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.779	−0.123%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.860	−0.041%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.830	−0.072%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.830	−0.072%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.920	+0.020%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.792	−0.110%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0011%	1h	101.95	+4.137%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.419	+0.531%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.880	−0.020%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.878	−0.022%	$682K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.884	−0.016%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.882	−0.018%	$155.2M	$115.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.903	+0.003%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.820	−0.082%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0083%	1h	97.792	−0.110%	$7K	$41K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.900	long leg	$3.9M	$823K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.840	−0.061%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.853	−0.047%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.865	−0.036%	$116K	—	111x	as long as short