Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.088%

Price spread now: Deribit against Variational Omni+0.059%7-day average +0.023% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.407%−$41 on $10k

Price spread, last 3 days (all we have)−0.125%−$12 · spread now +0.059%, 7d avg +0.023%

Together, before fees−0.532%+ Points / potential airdropVariational Omni: Active · farm board−$53 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: Deribit is 0.036% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	95.913	0	get 0.0000% / 4h	1h 30m	$9.2M	$8.3M	—
Short	Deribit BRENTOIL_USDC-PERPETUAL	95.970	0	get 0.0000% / 1h	30m 12s	$102K	$279K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → +0.023%: $3.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$3.38
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 53 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, 4 min ago	2.63 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit
Sell Deribit live order book, 53 min ago	0.52 bp	10.2 bp −$10	11.1 bp −$111	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	95.945	+0.033%	$120K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0246%	1h	95.900	−0.014%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.862%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.930	+0.018%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.143%	$232K	$661K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.943	+0.032%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.950	+0.039%	$145.6M	$480.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.007%	$10.2M	$16.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.940	+0.028%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.910	−0.003%	$9.2M	$18.0M	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	95.910	−0.003%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	95.913	long leg	$9.2M	$8.3M	—
GRVT BZ_USDT_Perp	0.0000%	4h	95.920	+0.007%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.960	+0.049%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	95.970	+0.059%	$102K	$279K	15x
HTX BRENTOIL-USDT	0.0000%	4h	95.860	−0.055%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.940	+0.028%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.924	+0.011%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.923	+0.011%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0005%	8h	95.933	+0.020%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	+0.028%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.903	−0.010%	$670K	$5.3M	10x	as long as short
BloFin BZ-USDT	+0.0045%	4h	95.900	−0.014%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.01	+4.272%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.975	+0.065%	$147.5M	$146.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.004	+0.095%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.950	+0.039%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	+0.007%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	95.980	+0.070%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.994	+0.085%	$81K	$240K	20x	as long as short