Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX+0.009%7-day average −0.016% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.062%+$6 on $10k

Price spread, last 7 days−0.010%−$1 · spread now +0.009%, 7d avg −0.016%

Together, before fees+0.052%+ Points / potential airdropVariational Omni: Active · farm board+$5 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 0.026% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	97.330	0	get 0.0000% / 4h	3h 45m	$16.1M	$19.8M	50x
Short	Variational Omni BZ	97.339	0	get 0.0000% / 4h	3h 45m	$9.4M	$6.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → −0.016%: $2.57
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.43
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 OKX live order book, 3 min ago	0.51 bp	5.5 bp −$6	8.7 bp −$87	26.2 bp −$2,618	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.62 bp	doesn't fit	4.4 bp −$44	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	96.342	−1.015%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0161%	1h	97.360	+0.031%	$100K	$259K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0128%	1h	97.370	+0.041%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0066%	1h	97.280	−0.051%	$3.1M	$990K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.154%	$237K	$402K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.332	+0.002%	$2.4M	$1.7M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0034%	4h	97.302	−0.029%	$14K	$332K	25x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.363	+0.034%	$82K	$200K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.350	+0.021%	$339K	$761K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.353	+0.023%	$148.8M	$352.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BZUSDT	0.0000%	8h	97.330	0.000%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	97.330	long leg	$16.1M	$19.8M	50x
Gate BZ_USDT	0.0000%	8h	97.300	−0.031%	$9.2M	$10.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	+0.031%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	97.339	+0.009%	$9.4M	$6.1M	—
SunX BRENTOIL-USDT	0.0000%	4h	97.370	+0.041%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.270	−0.062%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.470	+0.144%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.270	−0.061%	$223K	$229K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.34	+4.120%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.912	+0.598%	—	—	—	as long as short
BloFin BZ-USDT	+0.0028%	4h	97.270	−0.062%	$1.5M	$99K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.330	0.000%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.380	+0.051%	$747K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.352	+0.022%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.370	+0.041%	$155.3M	$115.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.365	+0.036%	$1.6M	$370K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0074%	1h	97.343	+0.013%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.320	−0.010%	$3.8M	$798K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.300	−0.031%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.375	+0.046%	$116K	—	111x	as long as short