Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.021%

Price spread now: Kraken Futures against Variational Omni+0.032%7-day average +0.027% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.466%−$47 on $10k

Price spread, last 3 days (all we have)−0.122%−$12 · spread now +0.032%, 7d avg +0.027%

Together, before fees−0.588%+ Points / potential airdropVariational Omni: Active · farm board−$59 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.466%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.780	0	get 0.0000% / 4h	2h 42m	$9.3M	$7.2M	—
Short	Kraken Futures PF_BRENTOILUSD	96.811	0.0253	get 0.0032% / 1h	42m 55s	$83K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.032%Rate

Funding earned: $53.14
Price spread: +0.032% → +0.027%: $0.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $43.63
Costs to cover: 0.100%
Break-even: 1.3 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Kraken Futures: live order book, 25 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, 1 min ago	2.62 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 25 min ago	3.72 bp	16.5 bp −$17	36.9 bp −$369	doesn't fit	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	95.962	−0.845%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.134%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.021%	$1.5M	$90K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.830	+0.052%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.788	+0.008%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.787	+0.007%	$146.2M	$390.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.760	−0.021%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.790	+0.010%	$15.9M	$23.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.810	+0.031%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.021%	$9.2M	$12.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.790	+0.010%	$27.8M	$16.6M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	96.780	long leg	$9.3M	$7.2M	—
GRVT BZ_USDT_Perp	0.0000%	4h	96.800	+0.021%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.830	+0.052%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.820	+0.041%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.900	+0.124%	$308K	$284K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.790	+0.010%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	96.793	+0.013%	$222K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.326	+0.564%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.790	+0.010%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.794	+0.015%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.83	+4.185%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.804	+0.025%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.789	+0.009%	$151.6M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.876	+0.099%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.800	+0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.052%	$3.8M	$894K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.010%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0107%	1h	96.805	+0.026%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0253%	1h	96.811	+0.032%	$83K	$218K	20x
Aftermath Perps BRENTUSD	+0.0279%	1h	96.842	+0.065%	$7K	$44K	5x	as long as short