Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h −0.008%

Price spread now: Variational Omni against Kraken Futures−0.320%7-day average −0.037% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.453%+$45 on $10k

Price spread, last 4 days (all we have)+0.621%+$62 · spread now −0.320%, 7d avg −0.037%

Together, before fees+1.074%+ Points / potential airdropVariational Omni: Active · farm board+$107 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.283% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.320% now, against its 7-day average of −0.037%). If the spread goes back, that is −$28 on $10k: about 2.8 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	95.653	−0.0338	get 0.0042% / 1h	54m 11s	$81K	$205K	20x
Short	Variational Omni BZ	95.346	0	get 0.0000% / 4h	2h 54m	$9.2M	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.320%Rate

Funding earned: $70.95
Price spread: −0.320% → −0.037%: −$28.33
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $32.62
Costs to cover: 0.100%
Break-even: 3.8 days

Slippage unknown: Kraken Futures: live order book, 38 min ago; Variational Omni: RFQ quote, 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 Kraken Futures live order book, 38 min ago	5.45 bp	16.3 bp −$16	30.5 bp −$305	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.64 bp	doesn't fit	3.1 bp −$31	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
Kraken Futures PF_BRENTOILUSDlong	−0.0338%	1h	95.653	long leg	$81K	$205K	20x
RISEx BZ/USDC	−0.0289%	1h	95.595	−0.060%	$2.4M	$1.8M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0154%	4h	95.254	−0.417%	$13K	$318K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0095%	1h	95.560	−0.097%	$3.0M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.320	−0.348%	$276K	$593K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0064%	1h	95.640	−0.013%	$98K	$269K	15x	as long as short
Bybit BZUSDT	−0.0036%	8h	95.620	−0.034%	$10.1M	$14.7M	100x	as long as short
BloFin BZ-USDT	−0.0005%	4h	95.470	−0.191%	$1.5M	$102K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.651	−0.002%	$329K	$703K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.620	−0.034%	$146.7M	$396.1M	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	95.610	−0.045%	$16.1M	$23.4M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.590	−0.065%	$9.2M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.640	−0.013%	$28.2M	$23.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	95.346	−0.320%	$9.2M	$6.5M	—
SunX BRENTOIL-USDT	0.0000%	4h	95.670	+0.018%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.500	−0.160%	$273K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.620	−0.034%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	95.295	−0.374%	$219K	$230K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.001%	—	—	—	as long as short
Vest BZ-PERP	+0.0012%	1h	99.270	+3.782%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	95.551	−0.106%	$1K	$2K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.610	−0.045%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.672	+0.020%	$754K	$2.7M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	95.630	−0.024%	$33K	—	20x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+0.721%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.642	−0.011%	$153.1M	$128.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.605	−0.050%	$1.6M	$386K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0055%	1h	95.425	−0.238%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.650	−0.003%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.220	−0.452%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0185% / S −0.0707%	1h	95.555	−0.102%	$33K	—	111x	as long as short