Funding arb · Price arb /

BZ

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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 +0.003%

Price spread now: Variational Omni against Aster−0.106%7-day average −0.007% · you buy dearer than you sell

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days+0.205%+$20 · spread now −0.106%, 7d avg −0.007%

Together, before fees+0.217%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board+$22 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: Variational Omni is 0.099% cheaper against Aster than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	93.780	0	get 0.0000% / 4h	1h 05m	$321K	$636K	50x
Short	Variational Omni BZ	93.680	0	get 0.0000% / 4h	1h 05m	$8.9M	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aster. 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 AsterbpFee Variational OmnibpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → −0.007%: −$9.95
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.95
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 40 min ago; Variational Omni: RFQ quote, 2 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 Aster live order book, 40 min ago	1.59 bp	5.6 bp −$6	6.8 bp −$68	78.5 bp −$7,853	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.65 bp	doesn't fit	3.5 bp −$35	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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	93.740	−0.043%	$32K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0344%	1h	93.713	−0.072%	$105K	$274K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	93.737	−0.046%	$2.2M	$2.6M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+1.126%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0177%	1h	93.710	−0.075%	$29K	$389K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.150	+0.395%	$246K	$1.0M	15x	as long as short
BloFin BZ-USDT	−0.0054%	4h	93.770	−0.011%	$1.5M	$122K	50x	as long as short
Bybit BZUSDT	−0.0050%	8h	93.750	−0.032%	$10.6M	$16.9M	100x	as long as short
edgeX BZUSDC	−0.0019%	4h	94.059	+0.298%	$216K	$230K	20x	as long as short
Binance BZUSDT	−0.0016%	4h	93.790	+0.011%	$144.0M	$465.4M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	−0.0010%	4h	93.979	+0.212%	$15K	$307K	25x	as long as short
Aster BZUSDTlong	0.0000%	4h	93.780	long leg	$321K	$636K	50x
OKX BZ-USDT-SWAP	0.0000%	4h	93.780	0.000%	$15.7M	$28.2M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	93.730	−0.053%	$8.7M	$13.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	93.780	0.000%	$27.2M	$30.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	93.680	−0.106%	$8.9M	$6.6M	—
SunX BRENTOIL-USDT	0.0000%	4h	93.780	0.000%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.700	−0.085%	$240K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.080	+0.320%	$1.2M	$91K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.238	+0.488%	—	—	—	as long as short
Aftermath Perps BRENTUSD	+0.0013%	1h	93.967	+0.200%	$7K	$37K	5x	as long as short
Vest BZ-PERP	+0.0018%	1h	97.360	+3.817%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	93.740	−0.043%	$3.4M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	93.782	+0.002%	$751K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	93.763	−0.018%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	93.780	0.000%	$137.8M	$183.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	93.740	−0.043%	$1.5M	$495K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	93.700	−0.085%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	93.730	−0.053%	$3.3M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.910	+0.139%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0165% / S −0.0429%	1h	93.705	−0.080%	$22K	—	111x	as long as short