Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: Bybit against tradeXYZ−0.043%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on tradeXYZ Short on Bybit

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+0.037%+$4 · spread now −0.043%, 7d avg −0.026%

Together, before fees−0.170%+ Points / potential airdroptradeXYZ: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	97.462	0.0050	pay 0.0006% / 1h	38m 49s	$153.9M	$126.0M	20x
Short	Bybit BZUSDT	97.420	0	get 0.0000% / 8h	3h 38m	$10.4M	$12.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$10.5
Price spread: −0.043% → −0.026%: −$1.69
Slippage, 4 orders: −$7.27
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.46
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 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 tradeXYZ live order book, 11 min ago	0.10 bp	9.5 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.51 bp	7.7 bp −$8	11.2 bp −$112	99.2 bp −$9,924	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	96.333	−1.158%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.197%	$233K	$439K	15x	as long as short
BloFin BZ-USDT	−0.0053%	4h	97.460	−0.002%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.408	−0.055%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.420	−0.043%	$147.6M	$367.9M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.420	−0.043%	$10.4M	$12.7M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.420	−0.043%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.481	+0.019%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.390	−0.074%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.420	−0.043%	$28.0M	$16.6M	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	97.458	−0.004%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.462	0.000%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.510	+0.049%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.500	+0.039%	$104K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.146%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.460	−0.002%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.427	−0.036%	$224K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.048	+0.602%	—	—	—	as long as short
Vest BZ-PERP	+0.0029%	1h	101.55	+4.194%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.420	−0.043%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.433	−0.030%	$675K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.497	+0.036%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	97.462	long leg	$153.9M	$126.0M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.531	+0.071%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.450	−0.012%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.506	+0.045%	$82K	$208K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.530	+0.070%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.480	+0.018%	$3.8M	$860K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.370	−0.094%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0103%	1h	97.413	−0.050%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0240% / S −0.1046%	1h	97.495	+0.034%	$115K	—	111x	as long as short