Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.020%47s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as 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−$900.901% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.020%, 7d avg −0.016%

Together, before fees+0.303%+$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 47 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	SunX BRENTOIL-USDT	97.810	0	get 0.0000% / 4h	1h 51m	$4K	$2.4M	20x
Short	ApeX Omni BZUSDT	97.790	0.0100	get 0.0013% / 1h	51m 28s	$26K	$273K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.020%Rate

Funding earned: $21
Price spread: −0.020% → −0.016%: −$0.47
Slippage, 4 orders: −$72.09
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$69.56
Costs to cover: 0.901%
Break-even: 30.2 days

Slippage from SunX: live order book, 6 min ago; ApeX Omni: live order book, 56 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 SunX live order book, 6 min ago	18.93 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 56 min ago	8.72 bp	20.3 bp −$20	199.4 bp −$1,994	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	96.817	−1.015%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.286%	$235K	$416K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.786	−0.025%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.780	−0.031%	$147.8M	$353.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.780	−0.031%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.790	−0.020%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.770	−0.041%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.750	−0.061%	$9.3M	$10.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.790	−0.020%	$27.9M	$17.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.658	−0.155%	$9.4M	$6.8M	—	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	97.771	−0.040%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.810	long leg	$4K	$2.4M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.780	−0.031%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.770	−0.041%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.770	−0.041%	$1.2M	$80K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.338	+0.540%	—	—	—	as long as short
Vest BZ-PERP	+0.0013%	1h	101.89	+4.171%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0014%	4h	97.767	−0.044%	$225K	$228K	20x	as long as short
BloFin BZ-USDT	+0.0015%	4h	97.800	−0.010%	$1.5M	$98K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.810	0.000%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.800	−0.010%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.794	−0.016%	$678K	$3.5M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.800	−0.011%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.819	+0.009%	$154.9M	$118.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.823	+0.013%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.750	−0.061%	$3.1M	$996K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	97.728	−0.084%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.810	0.000%	$3.8M	$830K	50x	as long as short
ApeX Omni BZUSDTshort	+0.0100%	1h	97.790	−0.020%	$26K	$273K	50x
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.795	−0.015%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.795	−0.015%	$116K	—	111x	as long as short