Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.010%

Price spread now: GMX against Variational Omni+0.019%7-day average +0.014% · you sell dearer than you buy

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.046%−$5 · spread now +0.019%, 7d avg +0.014%

Together, before fees−0.066%+ Points / potential airdropVariational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.687	0	get 0.0000% / 4h	3h 05m	$9.3M	$7.4M	—
Short	GMX BRENTOIL/USD [ETH-USDC]	96.705	L +0.0200% / S +0.0126%	pay 0.0016% / 1h	5m 56s	$126K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$26.44
Price spread: +0.019% → +0.014%: $0.44
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$38
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; GMX: no order-book sample. 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, 3 min ago	2.62 bp	doesn't fit	4.1 bp −$41	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	95.731	−0.989%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.038%	$234K	$440K	15x	as long as short
BloFin BZ-USDT	−0.0029%	4h	96.600	−0.090%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.728	+0.043%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.730	+0.044%	$145.9M	$404.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.700	+0.013%	$10.4M	$15.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.700	+0.013%	$15.9M	$24.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.697	+0.010%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.670	−0.018%	$9.2M	$14.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.720	+0.034%	$27.6M	$17.9M	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	96.687	long leg	$9.3M	$7.4M	—
GRVT BZ_USDT_Perp	0.0000%	4h	96.668	−0.019%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.720	+0.034%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.730	+0.044%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.570	−0.121%	$307K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.720	+0.034%	$1.2M	$93K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	96.658	−0.030%	$221K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.240	+0.572%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.743	+0.058%	$83K	$220K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.720	+0.034%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.726	+0.041%	$722K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0040%	1h	96.580	−0.111%	$3.1M	$1.1M	15x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.703	+0.017%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.74	+4.192%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.749	+0.064%	$151.8M	$138.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.752	+0.067%	$1.5M	$506K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.700	+0.013%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.740	+0.055%	$3.8M	$931K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.630	−0.059%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0200% / S +0.0126%	1h	96.705	+0.019%	$126K	—	111x
Aftermath Perps BRENTUSD	+0.0338%	1h	96.666	−0.022%	$7K	$45K	5x	as long as short