Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Vest−3.655%7-day average −3.342% · you buy dearer than you sell

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

Long on Vest Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.259%−$26 · spread now −3.655%, 7d avg −3.342%

Together, before fees−0.162%+ Points / potential airdropVest: Active · Variational Omni: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.313% cheaper against Vest than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −3.342%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.097%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BZ-PERP	98.850	0.0010	pay 0.0001% / 1h	59m 41s	—	$735K	10x
Short	Variational Omni BZ	95.237	0	get 0.0000% / 4h	2h 59m	$9.2M	$6.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Vest. 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 VestbpFee Variational OmnibpOrdersPrice spread, now −3.655%Rate

Funding earned: −$2.2
Price spread: −3.655% → −3.342%: −$31.29
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$35.49
Costs to cover: 0.020%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 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 Vest no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.64 bp	doesn't fit	4.0 bp −$40	doesn't fit	doesn't fit

Vest: 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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0485%	1h	95.110	−3.784%	$98K	$268K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−2.537%	$8K	$7K	30x	as long as short
GRVT BZ_USDT_Perp	−0.0144%	4h	94.935	−3.960%	$14K	$329K	25x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	95.280	−3.612%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	95.110	−3.784%	$275K	$589K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	95.198	−3.694%	$2.3M	$1.8M	20x	as long as short
Bybit BZUSDT	−0.0037%	8h	95.230	−3.662%	$10.0M	$14.6M	100x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	95.200	−3.692%	$81K	$203K	20x	as long as short
Aster BZUSDT	0.0000%	4h	95.230	−3.662%	$330K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.200	−3.692%	$146.2M	$388.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.240	−3.652%	$16.0M	$22.6M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.020	−3.875%	$9.1M	$11.5M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.250	−3.642%	$28.1M	$21.8M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	95.237	−3.655%	$9.2M	$6.4M	—
SunX BRENTOIL-USDT	0.0000%	4h	95.140	−3.753%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.060	−3.834%	$272K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.510	−3.379%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	95.057	−3.837%	$218K	$231K	20x	as long as short
Vest BZ-PERPlong	+0.0010%	1h	98.850	long leg	—	$735K	10x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	−3.234%	—	—	—	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	95.210	−3.683%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.210	−3.682%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.128	−3.765%	$748K	$2.7M	10x	as long as short
BloFin BZ-USDT	+0.0041%	4h	95.280	−3.612%	$1.5M	$102K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.210	−3.682%	$152.3M	$126.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.140	−3.753%	$1.6M	$385K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.080	−3.814%	$3.0M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0055%	1h	95.388	−3.502%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.160	−3.733%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.150	−3.743%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.245	−3.647%	$33K	—	111x	as long as short