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% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Bybit+0.192%7-day average −0.010% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.117%+$12 on $10k

Price spread, last 7 days−0.159%−$16 · spread now +0.192%, 7d avg −0.010%

Together, before fees−0.043%+ Points / potential airdropVariational Omni: Active · farm board−$4 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 0.202% dearer against Bybit than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	97.060	0	get 0.0000% / 8h	7h 21m	$10.2M	$13.4M	100x
Short	Variational Omni BZ	97.246	0	get 0.0000% / 4h	3h 21m	$9.4M	$6.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.192%Rate

Funding earned: $0
Price spread: +0.192% → −0.010%: $20.16
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.16
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Bybit live order book, 2 min ago	0.51 bp	8.7 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.62 bp	doesn't fit	4.8 bp −$48	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.150	+0.093%	$100K	$266K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−0.740%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0084%	1h	96.990	−0.072%	$3.1M	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0064%	4h	97.181	+0.124%	$13K	$340K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.240	+0.185%	$237K	$410K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.077	+0.017%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.141	+0.083%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.060	0.000%	$336K	$707K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.069	+0.009%	$147.9M	$357.6M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.060	long leg	$10.2M	$13.4M	100x

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	97.020	−0.041%	$16.2M	$20.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.030	−0.031%	$9.2M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.070	+0.010%	$27.9M	$19.1M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	97.246	+0.192%	$9.4M	$6.1M	—
SunX BRENTOIL-USDT	0.0000%	4h	97.130	+0.072%	$4K	$2.3M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	+0.021%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.220	+0.165%	$1.2M	$82K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	101.04	+4.101%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.706	+0.665%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.177	+0.121%	$224K	$230K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.060	0.000%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.110	+0.052%	$749K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0044%	8h	97.073	+0.013%	$2K	$1K	5x	as long as short
BloFin BZ-USDT	+0.0047%	4h	97.220	+0.165%	$1.5M	$101K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.070	+0.010%	$154.4M	$116.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.140	+0.082%	$1.6M	$344K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0056%	1h	97.303	+0.250%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.100	+0.041%	$3.8M	$787K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	+0.165%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0160%	1h	97.100	+0.041%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.235	+0.180%	$115K	—	111x	as long as short