Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: tradeXYZ against Variational Omni−0.043%7-day average +0.034% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.043%, 7d avg +0.034%

Together, before fees+0.038%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.077% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.034%). If the spread goes back, that is −$8 on $10k: about 5.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.658	0	get 0.0000% / 4h	1h 15m	$9.4M	$6.9M	—
Short	tradeXYZ xyz:BRENTOIL	97.616	0.0050	get 0.0006% / 1h	15m 17s	$155.0M	$115.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.043%Rate

Funding earned: $10.5
Price spread: −0.043% → +0.034%: −$7.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$15.23
Costs to cover: 0.180%
Break-even: 17.2 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; tradeXYZ: live order book, 5 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, 4 min ago	2.62 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.05 bp	9.4 bp −$9	10.8 bp −$108	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	96.970	−0.704%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.700	+0.043%	$237K	$417K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0032%	1h	97.690	+0.033%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.623	−0.036%	$339K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.620	−0.039%	$148.1M	$351.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.590	−0.070%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.620	−0.039%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.593	−0.067%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.590	−0.070%	$9.3M	$11.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.620	−0.039%	$27.8M	$17.4M	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	97.658	long leg	$9.4M	$6.9M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.664	+0.006%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.640	−0.018%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.610	−0.049%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.660	+0.002%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.640	−0.018%	$1.2M	$86K	100x	as long as short
BloFin BZ-USDT	+0.0002%	4h	97.610	−0.049%	$1.5M	$96K	50x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.686	+0.029%	$225K	$228K	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.76	+4.200%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.168	+0.522%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.610	−0.049%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.603	−0.056%	$683K	$3.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.622	−0.037%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.616	−0.043%	$155.0M	$115.9M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.644	−0.014%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.620	−0.039%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0095%	1h	97.704	+0.048%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.590	−0.070%	$3.8M	$814K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.730	+0.074%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.598	−0.061%	$82K	$205K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.625	−0.034%	$116K	—	111x	as long as short