Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: Phemex against Variational Omni+0.057%7-day average +0.228% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.315%+$31 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now +0.057%, 7d avg +0.228%

Together, before fees+0.495%+ Points / potential airdropVariational Omni: Active · farm board+$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.171% cheaper against Variational Omni than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.228%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	95.465	0	get 0.0000% / 4h	2h 19m	$9.2M	$6.5M	—
Short	Phemex XBRUSDT	95.520	0	get 0.0000% / 4h	2h 19m	$1.2M	$81K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.228%: −$17.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.1
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phemex: live order book, 1 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, 3 min ago	2.63 bp	doesn't fit	3.2 bp −$32	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

BZ on 31 exchanges

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	−0.0378%	1h	95.460	−0.006%	$61K	$309K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.460	−0.005%	$95K	$244K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.483	+0.018%	$2.4M	$1.8M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.480	+0.015%	$271K	$645K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0060%	4h	95.610	+0.151%	$14K	$320K	25x	as long as short
BloFin BZ-USDT	−0.0032%	4h	95.480	+0.015%	$1.6M	$108K	50x	as long as short
Bybit BZUSDT	−0.0002%	8h	95.490	+0.026%	$10.0M	$15.3M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.554	+0.092%	$330K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.510	+0.047%	$147.2M	$417.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.500	+0.036%	$16.2M	$24.7M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.460	−0.006%	$9.1M	$12.5M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.490	+0.026%	$28.0M	$25.6M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	95.465	long leg	$9.2M	$6.5M	—
SunX BRENTOIL-USDT	0.0000%	4h	95.510	+0.047%	$4K	$1.9M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.480	+0.015%	$273K	$260K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	95.520	+0.057%	$1.2M	$81K	100x
edgeX BZUSDC	+0.0007%	4h	95.472	+0.007%	$219K	$231K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.991	+0.550%	—	—	—	as long as short
Vest BZ-PERP	+0.0019%	1h	99.220	+3.933%	—	$735K	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0019%	1h	95.440	−0.027%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.490	+0.026%	$3.5M	$5.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.507	+0.043%	$720K	$3.2M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.659%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0041%	8h	95.473	+0.008%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0043%	1h	95.569	+0.109%	$7K	$38K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.503	+0.039%	$149.0M	$136.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.479	+0.014%	$1.6M	$394K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.550	+0.089%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.520	+0.057%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	95.510	+0.047%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0185% / S −0.0707%	1h	95.495	+0.031%	$33K	—	111x	as long as short