Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: Ondo Perps against Variational Omni−0.029%7-day average −0.075% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 7 days−0.201%−$20 · spread now −0.029%, 7d avg −0.075%

Together, before fees−0.153%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.046% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.258	0	get 0.0000% / 4h	3h 50m	$9.4M	$6.8M	—
Short	Ondo Perps BRENT-USD.P	97.230	0.0050	get 0.0006% / 1h	50m 30s	$3.1M	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.029%Rate

Funding earned: $10.58
Price spread: −0.029% → −0.075%: $4.63
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $10.22
Costs to cover: 0.050%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Ondo Perps: 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, 4 min ago	2.63 bp	doesn't fit	3.5 bp −$35	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	96.333	−0.951%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	+0.012%	$233K	$439K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0058%	1h	97.280	+0.023%	$104K	$239K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.272	+0.015%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.285	+0.028%	$147.3M	$368.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.270	+0.012%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.290	+0.033%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.283	+0.026%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.230	−0.029%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.290	+0.033%	$27.8M	$16.6M	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	97.258	long leg	$9.4M	$6.8M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.183	−0.077%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.210	−0.049%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.121%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.280	+0.023%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	97.290	+0.033%	$1.5M	$92K	50x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.161	−0.100%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.835	+0.593%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.250	−0.008%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0030%	1h	101.31	+4.166%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.300	+0.043%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.309	+0.053%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.288	+0.031%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.326	+0.070%	$153.5M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.328	+0.072%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	97.230	−0.029%	$3.1M	$1.0M	15x
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.285	+0.028%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.310	+0.053%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	−0.029%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0114%	1h	97.201	−0.058%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0229% / S −0.0263%	1h	97.275	+0.018%	$126K	—	111x	as long as short