Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.022%

Price spread now: Variational Omni against Aftermath Perps−0.054%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.054% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BRENTUSD	97.081	0.0125	pay 0.0016% / 1h	57m 42s	$7K	$43K	5x
Short	Variational Omni BZ	97.028	0	get 0.0000% / 4h	3h 57m	$9.4M	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aftermath Perps. 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 Aftermath PerpsbpFee Variational OmnibpOrdersPrice spread, now −0.054%Rate

Funding earned: −$26.29
Price spread: −0.054% → 0.000%: −$5.42
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$40.7
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	2.62 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit

Aftermath Perps: 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
Injective BRENT/USDC PERP	−0.0220%	1h	96.433	−0.667%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.050	−0.032%	$233K	$438K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.156	+0.078%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.180	+0.102%	$147.1M	$369.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.150	+0.071%	$10.4M	$12.8M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.190	+0.113%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.098	+0.018%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.110	+0.030%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.180	+0.102%	$27.8M	$16.6M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	97.028	−0.054%	$9.4M	$6.8M	—

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	97.050	−0.032%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.130	+0.051%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.160	+0.082%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	−0.001%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.190	+0.113%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	97.110	+0.030%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.697	+0.634%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.030	−0.052%	$223K	$228K	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.15	+4.192%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.170	+0.092%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.162	+0.083%	$679K	$4.2M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.130	+0.051%	$33K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.179	+0.101%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.191	+0.114%	$153.3M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.163	+0.085%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.110	+0.030%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.137	+0.058%	$84K	$206K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.190	+0.113%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.040	−0.042%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSDlong	+0.0125%	1h	97.081	long leg	$7K	$43K	5x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0223% / S −0.0223%	1h	97.135	+0.056%	$126K	—	111x	as long as short