Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.053%

Price spread now: Variational Omni against Ondo Perps+0.024%7-day average +0.076% · you sell dearer than you buy

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

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.040%−$4 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.024%, 7d avg +0.076%

Together, before fees−0.063%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.053% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BRENT-USD.P	95.890	0.0050	pay 0.0006% / 1h	9m 28s	$3.1M	$1.1M	15x
Short	Variational Omni BZ	95.913	0	get 0.0000% / 4h	2h 09m	$9.5M	$10.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Ondo Perps. 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 Ondo PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.024%Rate

Funding earned: −$10.58
Price spread: +0.024% → +0.076%: −$5.26
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.84
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	2.63 bp	doesn't fit	3.6 bp −$36	28.8 bp −$2,884	doesn't fit

Ondo Perps: 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 −0.0741% / S +0.0471%	1h	95.915	+0.026%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.923	+0.034%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.167%	$232K	$859K	15x	as long as short
BloFin BZ-USDT	−0.0024%	4h	95.900	+0.010%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	−0.0001%	8h	95.927	+0.038%	$3K	$521	5x	as long as short
Aster BZUSDT	0.0000%	4h	95.950	+0.063%	$333K	$1.6M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.900	+0.010%	$145.6M	$491.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.031%	$10.2M	$17.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.890	0.000%	$15.8M	$30.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.893	+0.003%	$2.2M	$1.3M	20x	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	95.870	−0.021%	$9.1M	$19.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.880	−0.010%	$27.5M	$24.0M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	95.913	+0.024%	$9.5M	$10.6M	—
GRVT BZ_USDT_Perp	0.0000%	4h	95.908	+0.019%	$34K	$396K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.930	+0.042%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.870	−0.021%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.910	+0.021%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	95.913	+0.024%	$219K	$233K	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.852	−0.040%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.338%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0048%	1h	95.900	+0.010%	$3.3M	$4.4M	20x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.935	+0.047%	$147.8M	$148.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.974	+0.088%	$1.5M	$540K	20x	as long as short
Ondo Perps BRENT-USD.Plong	+0.0050%	1h	95.890	long leg	$3.1M	$1.1M	15x
KuCoin BZUSDTM	+0.0100%	4h	95.840	−0.052%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	+0.031%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	95.945	+0.057%	$81K	$259K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0210%	1h	95.964	+0.078%	$6K	$45K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0328%	1h	95.940	+0.052%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0480%	1h	95.970	+0.083%	$102K	$280K	15x	as long as short