Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h +0.005%

Price spread now: Bybit against Vest−3.907%7-day average −3.312% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −3.907%, 7d avg −3.312%

Together, before fees+0.018%+ Points / potential airdropVest: Active · farm board+$2 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 0.595% cheaper against Vest than usual: you would sell low and buy high (−$60 if the spread goes back to its 7-day average of −3.312%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BZ-PERP	101.35	0.0009	pay 0.0001% / 1h	37m 07s	—	$735K	10x
Short	Bybit BZUSDT	97.390	−0.0018	pay 0.0018% / 8h	7h 37m	$10.3M	$13.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee BybitbpOrdersPrice spread, now −3.907%Rate

Funding earned: −$5.55
Price spread: −3.907% → −3.312%: −$59.51
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$78.06
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	1.03 bp	8.3 bp −$8	11.9 bp −$119	96.6 bp −$9,658	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0263%	1h	97.360	−3.937%	$100K	$261K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−4.941%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0073%	1h	97.350	−3.947%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	−3.818%	$237K	$402K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.353	−3.944%	$2.4M	$1.8M	20x	as long as short
BloFin BZ-USDT	−0.0033%	4h	97.350	−3.947%	$1.5M	$100K	50x	as long as short
Bybit BZUSDTshort	−0.0018%	8h	97.390	−3.907%	$10.3M	$13.3M	100x
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.369	−3.928%	$82K	$197K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.371	−3.926%	$338K	$761K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.390	−3.907%	$148.9M	$354.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	−3.927%	$16.2M	$19.9M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.330	−3.966%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.390	−3.907%	$28.1M	$18.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.409	−3.889%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.354	−3.943%	$13K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.370	−3.927%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.400	−3.897%	$280K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.380	−3.917%	$1.2M	$83K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.420	−3.878%	$34K	—	20x	as long as short
Vest BZ-PERPlong	+0.0009%	1h	101.35	long leg	—	$735K	10x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.927	−3.377%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.354	−3.943%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.350	−3.947%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.404	−3.894%	$753K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	97.347	−3.950%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.410	−3.888%	$155.6M	$115.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.405	−3.892%	$1.6M	$345K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	97.412	−3.886%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.340	−3.957%	$3.8M	$796K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.410	−3.888%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.355	−3.942%	$116K	—	111x	as long as short