Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against GRVT−0.068%89s7-day average −0.021% · you buy dearer than you sell

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

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.068%, 7d avg −0.021%

Together, before fees+0.035%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.047% cheaper against GRVT than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.021%. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	97.864	0	get 0.0000% / 4h	1h 34m	$24K	$305K	25x
Short	Variational Omni BZ	97.798	0	get 0.0000% / 4h	1h 34m	$9.4M	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GRVT. 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 GRVTbpFee Variational OmnibpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.021%: −$4.69
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.69
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 8 min ago; Variational Omni: RFQ quote, 5 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 GRVT live order book, 8 min ago	0.51 bp	7.8 bp −$8	10.2 bp −$102	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 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	97.018	−0.865%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	−0.056%	$236K	$419K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.822	−0.043%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.820	−0.045%	$147.8M	$350.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.800	−0.066%	$10.2M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.810	−0.056%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.820	−0.046%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.770	−0.096%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.820	−0.045%	$28.0M	$17.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	97.798	−0.068%	$9.4M	$6.9M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perplong	0.0000%	4h	97.864	long leg	$24K	$305K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.870	+0.006%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.820	−0.045%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.780	−0.086%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	98.100	+0.241%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.98	+4.205%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.384	+0.531%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	97.857	−0.007%	$225K	$228K	20x	as long as short
BloFin BZ-USDT	+0.0023%	4h	97.800	−0.066%	$1.5M	$97K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.810	−0.056%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.826	−0.039%	$682K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.844	−0.021%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.819	−0.046%	$155.2M	$116.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.888	+0.024%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.800	−0.066%	$3.1M	$996K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0081%	1h	97.843	−0.022%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.830	−0.035%	$3.8M	$811K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.860	−0.004%	$26K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	97.860	−0.004%	$34K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.860	−0.004%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.825	−0.040%	$116K	—	111x	as long as short