Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Variational Omni against Injective+0.801%46s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Variational Omni is 0.801% dearer against Injective than usual: you sell high and buy low: +$80 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BRENT/USDC PERP	95.978	−0.0220	get 0.0028% / 1h	16m 20s	$8K	$7K	30x
Short	Variational Omni BZ	96.747	0	get 0.0000% / 4h	2h 16m	$9.3M	$7.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now +0.801%Rate

Funding earned: $46.2
Price spread: +0.801% → 0.000%: $80.13
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $126.31
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	2.62 bp	doesn't fit	4.3 bp −$43	doesn't fit	doesn't fit

Injective: 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 30 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 PERPlong	−0.0220%	1h	95.978	long leg	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	+0.867%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.964	+1.028%	$337K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.949	+1.012%	$146.4M	$379.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.920	+0.981%	$10.3M	$13.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	+1.013%	$15.9M	$21.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.942	+1.004%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.900	+0.961%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.960	+1.023%	$27.6M	$16.2M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	96.747	+0.801%	$9.3M	$7.1M	—

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.873	+0.932%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.930	+0.992%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	+0.971%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	+0.804%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.910	+0.971%	$1.2M	$83K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.484	+1.570%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.824	+0.881%	$222K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.950	+1.013%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.953	+1.016%	$673K	$5.0M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.02	+5.253%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.950	+1.013%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.964	+1.027%	$151.9M	$127.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.001	+1.066%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.920	+0.981%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.020	+1.086%	$3.8M	$885K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.880	+0.940%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	96.910	+0.971%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0208% / S +0.0085%	1h	96.895	+0.955%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0232%	1h	96.862	+0.921%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.917	+0.978%	$83K	$218K	20x	as long as short