Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Extended−0.045%7-day average +0.005% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.082%+$8 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.045%, 7d avg +0.005%

Together, before fees+0.122%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$12 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 Variational Omni is 0.050% cheaper against Extended than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.005%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.082%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.830	0.0032	pay 0.0004% / 1h	36m 09s	$676K	$4.8M	10x
Short	Variational Omni BZ	96.786	0	get 0.0000% / 4h	1h 36m	$9.3M	$7.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.045%Rate

Funding earned: −$6.72
Price spread: −0.045% → +0.005%: −$4.99
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.71
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Extended live order book, 3 min ago	1.08 bp	4.5 bp −$4	12.6 bp −$126	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.62 bp	doesn't fit	2.9 bp −$29	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	96.164	−0.688%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	+0.021%	$233K	$426K	15x	as long as short
BloFin BZ-USDT	−0.0053%	4h	96.820	−0.010%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.845	+0.015%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.820	−0.010%	$146.6M	$374.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.800	−0.031%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.800	−0.031%	$15.9M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.794	−0.037%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.072%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.810	−0.021%	$27.4M	$16.4M	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 BZshort	0.0000%	4h	96.786	−0.045%	$9.3M	$7.1M	—
GRVT BZ_USDT_Perp	0.0000%	4h	96.828	−0.002%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.820	−0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.810	−0.021%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.760	−0.072%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	−0.021%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	96.838	+0.008%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.360	+0.547%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.810	−0.021%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	96.830	long leg	$676K	$4.8M	10x
Vest BZ-PERP	+0.0044%	1h	100.86	+4.162%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.797	−0.034%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.835	+0.005%	$151.7M	$125.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.856	+0.027%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.770	−0.062%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	+0.031%	$3.8M	$873K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.820	−0.010%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0050%	1h	96.805	−0.026%	$126K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	96.860	+0.031%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0186%	1h	96.869	+0.040%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0299%	1h	96.807	−0.024%	$83K	$218K	20x	as long as short