Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1554%/8h= +170.1% APRpaid last 24h −0.014%

Price spread now: GMX against Variational Omni+0.018%7-day average +0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.018%, 7d avg +0.021%

Together, before fees−0.101%+ Points / potential airdropVariational Omni: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$47 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.020% in total (about -2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.338	0	get 0.0000% / 4h	3h 15m	$9.3M	$6.9M	—
Short	GMX BRENTOIL/USD [ETH-USDC]	97.355	L +0.0264% / S −0.1554%	get 0.0194% / 1h	15m 58s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $326.24
Price spread: +0.018% → +0.021%: −$0.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $313.88
Costs to cover: 0.120%
Break-even: 0.3 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; GMX: no order-book sample. 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 Variational Omni RFQ quote, 3 min ago	2.62 bp	doesn't fit	4.4 bp −$44	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Injective BRENT/USDC PERP	−0.0220%	1h	96.536	−0.824%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.070%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.368	+0.031%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.376	+0.039%	$147.4M	$366.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.370	+0.033%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.360	+0.023%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.338	0.000%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.340	+0.002%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	+0.023%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	97.338	long leg	$9.3M	$6.9M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.297	−0.042%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.370	+0.033%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.380	+0.043%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.018%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.520	+0.187%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.903	+0.581%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	97.273	−0.066%	$223K	$227K	20x	as long as short
Vest BZ-PERP	+0.0026%	1h	101.41	+4.183%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.360	+0.023%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.387	+0.050%	$680K	$4.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.359	+0.021%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.385	+0.048%	$153.8M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.392	+0.056%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.300	−0.039%	$3.1M	$1.0M	15x	as long as short
BloFin BZ-USDT	+0.0055%	4h	97.390	+0.053%	$1.5M	$92K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.376	+0.040%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.361	+0.024%	$7K	$43K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.390	+0.053%	$3.8M	$851K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	+0.023%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0216%	1h	97.370	+0.033%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0264% / S −0.1554%	1h	97.355	+0.018%	$115K	—	111x