Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Variational Omni against ApeX Omni−0.065%7-day average −0.023% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.065%, 7d avg −0.023%

Together, before fees−0.011%+ Points / potential airdropVariational Omni: Active · farm board−$1 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 Variational Omni is 0.042% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BZUSDT	97.320	0.0100	pay 0.0013% / 1h	42m 49s	$26K	$274K	50x
Short	Variational Omni BZ	97.257	0	get 0.0000% / 4h	42m 49s	$9.4M	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.065%Rate

Funding earned: −$21
Price spread: −0.065% → −0.023%: −$4.2
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$35.2
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 14 min ago; 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 ApeX Omni live order book, 14 min ago	8.73 bp	20.7 bp −$21	179.5 bp −$1,795	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.62 bp	doesn't fit	2.7 bp −$27	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	96.376	−0.970%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	−0.082%	$234K	$437K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.320	0.000%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0012%	4h	97.330	+0.010%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.328	+0.008%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.341	+0.022%	$147.2M	$371.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.310	−0.010%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.320	0.000%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.326	+0.006%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.280	−0.041%	$9.2M	$12.2M	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	97.350	+0.031%	$27.5M	$16.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	97.257	−0.065%	$9.4M	$6.8M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.295	−0.026%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.360	+0.041%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.340	+0.021%	$104K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.200	−0.123%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	+0.010%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.213	−0.110%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.879	+0.574%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.350	+0.031%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.361	+0.043%	$676K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0035%	1h	101.35	+4.141%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.335	+0.016%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.370	+0.051%	$152.7M	$124.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.388	+0.070%	$1.6M	$469K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.260	−0.062%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.370	+0.051%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDTlong	+0.0100%	1h	97.320	long leg	$26K	$274K	50x
Aftermath Perps BRENTUSD	+0.0102%	1h	97.296	−0.024%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.355	+0.036%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.335	+0.015%	$126K	—	111x	as long as short