Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Bybit−0.039%7-day average −0.007% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.117%+$12 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.039%, 7d avg −0.007%

Together, before fees+0.197%+ Points / potential airdropVariational Omni: Active · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.033% cheaper against Bybit than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.007%). If the spread goes back, that is −$3 on $10k: about 35 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	94.410	−0.0074	get 0.0074% / 8h	5h 30m	$10.8M	$17.0M	100x
Short	Variational Omni BZ	94.373	0	get 0.0000% / 4h	1h 30m	$9.0M	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: $15.53
Price spread: −0.039% → −0.007%: −$3.28
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.25
Costs to cover: 0.110%
Break-even: 6.4 days

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 2 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 Bybit live order book, 1 min ago	0.53 bp	9.0 bp −$9	12.0 bp −$120	97.0 bp −$9,696	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.64 bp	doesn't fit	3.9 bp −$39	doesn't fit	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.490	+0.085%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0386%	1h	94.350	−0.064%	$34K	$382K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0341%	1h	94.347	−0.067%	$103K	$274K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.418	+0.008%	$1.9M	$2.3M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.451%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.390	−0.021%	$246K	$1.0M	15x	as long as short
Bybit BZUSDTlong	−0.0074%	8h	94.410	long leg	$10.8M	$17.0M	100x
GRVT BZ_USDT_Perp	−0.0046%	4h	94.370	−0.042%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0029%	4h	94.430	+0.021%	$145.1M	$470.3M	100x	as long as short
edgeX BZUSDC	−0.0012%	4h	94.411	+0.002%	$217K	$231K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.413	+0.003%	$324K	$802K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.420	+0.011%	$15.8M	$28.3M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.330	−0.085%	$8.8M	$13.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.410	0.000%	$27.5M	$30.1M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	94.373	−0.039%	$9.0M	$6.6M	—
SunX BRENTOIL-USDT	0.0000%	4h	94.390	−0.021%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.330	−0.085%	$242K	$317K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.470	+0.064%	$1.2M	$81K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.964	+0.587%	—	—	—	as long as short
BloFin BZ-USDT	+0.0012%	4h	94.390	−0.021%	$1.5M	$114K	50x	as long as short
Vest BZ-PERP	+0.0018%	1h	98.080	+3.887%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0020%	1h	94.385	−0.027%	$7K	$37K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.390	−0.021%	$3.5M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.419	+0.009%	$759K	$3.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0032%	8h	94.350	−0.063%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.416	+0.006%	$139.4M	$188.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.383	−0.029%	$1.5M	$487K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.350	−0.064%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.340	−0.074%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.480	+0.074%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.385	−0.026%	$32K	—	111x	as long as short