Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.018%7-day average +0.007% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.117%−$12 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.018%, 7d avg +0.007%

Together, before fees−0.090%+ Points / potential airdropVariational Omni: Active · farm board−$9 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: Bybit is 0.026% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.238	0	get 0.0000% / 4h	47m 35s	$9.4M	$7.1M	—
Short	Bybit BZUSDT	97.220	0	get 0.0000% / 8h	4h 47m	$10.4M	$13.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → +0.007%: −$2.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.6
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bybit: live order book, 6 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 Variational Omni RFQ quote, 2 min ago	2.62 bp	doesn't fit	3.8 bp −$38	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.51 bp	6.9 bp −$7	10.5 bp −$105	93.7 bp −$9,368	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	96.376	−0.886%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.002%	$234K	$437K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.270	+0.033%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.267	+0.030%	$338K	$955K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.240	+0.002%	$147.1M	$371.2M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.220	−0.018%	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.220	−0.018%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.226	−0.012%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.170	−0.070%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.240	+0.002%	$27.5M	$16.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZlong	0.0000%	4h	97.238	long leg	$9.4M	$7.1M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.264	+0.027%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.043%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.230	−0.008%	$104K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.120	−0.121%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.240	+0.002%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	+0.0003%	4h	97.280	+0.043%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.780	+0.558%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	97.247	+0.009%	$223K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.240	+0.002%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.244	+0.006%	$676K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0036%	1h	101.29	+4.167%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.238	0.000%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.266	+0.029%	$152.6M	$124.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.310	+0.074%	$1.6M	$469K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.180	−0.060%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.260	+0.023%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	−0.018%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0111%	1h	97.319	+0.084%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.252	+0.014%	$84K	$213K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.225	−0.013%	$126K	—	111x	as long as short