Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h +0.048%

Price spread now: Variational Omni against Hotstuff−0.062%7-day average — · you buy dearer than you sell

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

Long on Hotstuff 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 airdropHotstuff: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Variational Omni is 0.062% cheaper against Hotstuff than usual: you would sell low and buy high (−$6 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	Hotstuff BRENTOIL-PERP	96.040	0.0384	pay 0.0048% / 1h	27m 26s	$33K	—	20x
Short	Variational Omni BZ	95.981	0	get 0.0000% / 4h	2h 27m	$9.5M	$11.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hotstuff. 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 HotstuffbpFee Variational OmnibpOrdersPrice spread, now −0.062%Rate

Funding earned: −$80.64
Price spread: −0.062% → 0.000%: −$6.18
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$91.82
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	2.63 bp	doesn't fit	3.7 bp −$37	28.5 bp −$2,851	doesn't fit

Hotstuff: 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 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0660% / S +0.0457%	1h	95.965	−0.078%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.398	−0.668%	$10K	$4K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.010%	$232K	$859K	15x	as long as short
BloFin BZ-USDT	−0.0049%	4h	95.940	−0.104%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.998	−0.043%	$335K	$1.7M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.964	−0.079%	$145.5M	$489.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.960	−0.083%	$10.2M	$17.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.960	−0.083%	$15.8M	$30.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.965	−0.079%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	95.930	−0.115%	$9.1M	$19.1M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.940	−0.104%	$27.5M	$24.1M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	95.981	−0.062%	$9.5M	$11.2M	—
GRVT BZ_USDT_Perp	0.0000%	4h	95.970	−0.073%	$34K	$406K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.980	−0.062%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.970	−0.073%	$103K	$281K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.890	−0.156%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.960	−0.083%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	95.961	−0.082%	$220K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.970	−0.073%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.933	−0.111%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.175%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.034	−0.006%	$1.5M	$549K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.930	−0.115%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0052%	8h	95.969	−0.074%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0096%	1h	96.037	−0.003%	$148.2M	$147.2M	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.920	−0.125%	$3.8M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.050	+0.010%	$25K	$270K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0157%	1h	96.021	−0.020%	$6K	$45K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	96.009	−0.033%	$81K	$263K	20x	as long as short
Hotstuff BRENTOIL-PERPlong	+0.0384%	1h	96.040	long leg	$33K	—	20x