Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0555%/8h= −60.8% APRpaid last 24h +0.034%

Price spread now: Variational Omni against Kraken Futures−0.076%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 Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.474%+$47 on $10k

Price spread, last 3 days (all we have)+0.226%+$23 · spread now −0.076%, 7d avg −0.023%

Together, before fees+0.701%+ Points / potential airdropVariational Omni: Active · farm board+$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Variational Omni is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.474%, 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	Kraken Futures PF_BRENTOILUSD	96.066	0.0555	pay 0.0069% / 1h	13m 42s	$81K	$235K	20x
Short	Variational Omni BZ	95.993	0	get 0.0000% / 4h	1h 13m	$9.3M	$8.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.076%Rate

Funding earned: −$116.51
Price spread: −0.076% → −0.023%: −$5.24
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$131.76
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Variational Omni: RFQ quote, just now. 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 Kraken Futures live order book, 4 min ago	3.17 bp	17.4 bp −$17	25.4 bp −$254	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.63 bp	doesn't fit	4.5 bp −$45	doesn't fit	doesn't fit

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 −0.0848% / S +0.0467%	1h	96.025	−0.042%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.850%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.016	−0.052%	$2.2M	$1.3M	20x	as long as short
BloFin BZ-USDT	−0.0028%	4h	95.990	−0.079%	$1.5M	$95K	50x	as long as short
Ondo Perps BRENT-USD.P	−0.0017%	1h	95.980	−0.089%	$3.0M	$1.1M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	−0.016%	$232K	$638K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.957	−0.113%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.030	−0.037%	$145.7M	$476.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.040	−0.027%	$10.3M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.020	−0.048%	$15.8M	$27.2M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.980	−0.089%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.030	−0.037%	$27.4M	$21.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	95.993	−0.076%	$9.3M	$8.2M	—
GRVT BZ_USDT_Perp	0.0000%	4h	95.971	−0.099%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.040	−0.027%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.050	−0.016%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.940	−0.131%	$305K	$255K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.030	−0.037%	$1.2M	$99K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	96.023	−0.045%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0008%	1h	96.054	−0.012%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0017%	8h	96.002	−0.067%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.030	−0.037%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.941	−0.130%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+3.887%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.045	−0.022%	$147.8M	$146.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.086	+0.021%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.040	−0.027%	$3.7M	$999K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.090	+0.025%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	96.070	+0.004%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0555%	1h	96.066	long leg	$81K	$235K	20x