Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Variational Omni+0.076%7-day average +0.017% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 7 days−0.080%−$8 · spread now +0.076%, 7d avg +0.017%

Together, before fees−0.119%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.060% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.786	0	get 0.0000% / 4h	1h 33m	$9.3M	$7.1M	—
Short	Lighter BRENTOIL	96.860	0.0032	get 0.0004% / 1h	33m 44s	$3.2M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.076%Rate

Funding earned: $6.72
Price spread: +0.076% → +0.017%: $5.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $12.67
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 4 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, just now	2.62 bp	doesn't fit	3.4 bp −$34	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.03 bp	1.0 bp −$1	1.0 bp −$10	11.1 bp −$1,105	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	96.164	−0.643%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	+0.066%	$233K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.850	+0.066%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.860	+0.076%	$146.6M	$374.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.820	+0.035%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.880	+0.097%	$15.9M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.836	+0.052%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.810	+0.025%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.850	+0.066%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	96.786	long leg	$9.3M	$7.1M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.821	+0.036%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.870	+0.087%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.860	+0.076%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.760	−0.027%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.850	+0.066%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	96.804	+0.019%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.396	+0.631%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.860	+0.076%	$3.2M	$4.6M	20x
Extended XBR-USD	+0.0032%	1h	96.866	+0.082%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.90	+4.250%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0046%	4h	96.770	−0.017%	$1.5M	$86K	50x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.859	+0.075%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.873	+0.090%	$151.8M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.900	+0.118%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.800	+0.014%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.860	+0.076%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.910	+0.128%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.810	+0.025%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0178%	1h	96.862	+0.079%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0048%	1h	96.845	+0.061%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0299%	1h	96.836	+0.052%	$83K	$218K	20x	as long as short