Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Variational Omni−0.196%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 0.196% cheaper against Variational Omni than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.531	0	get 0.0000% / 4h	3h 10m	$9.4M	$6.2M	—
Short	Injective BRENT/USDC PERP	96.342	−0.0220	pay 0.0028% / 1h	10m 53s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.196%Rate

Funding earned: −$46.2
Price spread: −0.196% → 0.000%: −$19.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$65.8
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Injective: 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	2.63 bp	doesn't fit	2.9 bp −$29	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0271%	1h	95.860	−0.695%	$98K	$269K	15x	as long as short
Injective BRENT/USDC PERPshort	−0.0220%	1h	96.342	−0.196%	$8K	$7K	30x
GRVT BZ_USDT_Perp	−0.0112%	4h	96.478	−0.055%	$13K	$327K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0094%	1h	95.770	−0.788%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	95.930	−0.623%	$275K	$583K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	95.840	−0.716%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	95.895	−0.659%	$81K	$201K	20x	as long as short
BloFin BZ-USDT	0.0000%	4h	95.870	−0.685%	$1.5M	$100K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.792	−0.765%	$332K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.820	−0.737%	$147.9M	$367.9M	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	95.810	−0.747%	$10.1M	$14.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.840	−0.716%	$15.9M	$21.2M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.780	−0.778%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.850	−0.705%	$27.6M	$20.1M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	96.531	long leg	$9.4M	$6.2M	—
SunX BRENTOIL-USDT	0.0000%	4h	95.890	−0.664%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.940	−0.612%	$275K	$252K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.140	−0.405%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	99.550	+3.127%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.389	−0.147%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.527	−0.005%	$223K	$232K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.850	−0.705%	$3.4M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.873	−0.682%	$745K	$2.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0036%	8h	95.870	−0.684%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.883	−0.671%	$151.7M	$120.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.930	−0.623%	$1.5M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0054%	1h	96.485	−0.048%	$7K	$39K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0080%	1h	96.090	−0.457%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.890	−0.664%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.000	−0.550%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0705%	1h	95.865	−0.690%	$33K	—	111x	as long as short