Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Variational Omni−0.089%7-day average −0.019% · you buy dearer than you sell

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

Long on Variational Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)−0.201%−$20 · spread now −0.089%, 7d avg −0.019%

Together, before fees−0.281%+ Points / potential airdropVariational Omni: Active · farm board−$28 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: HTX is 0.069% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.006	0	get 0.0000% / 4h	1h 46m	$9.4M	$7.1M	—
Short	HTX BRENTOIL-USDT	96.920	0	get 0.0000% / 4h	1h 46m	$278K	$269K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.089%Rate

Funding earned: $0
Price spread: −0.089% → −0.019%: −$6.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$18.95
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; HTX: live order book, 15 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 Variational Omni RFQ quote, 3 min ago	2.62 bp	doesn't fit	4.5 bp −$45	doesn't fit	doesn't fit
Sell HTX live order book, 15 min ago	3.10 bp	9.1 bp −$9	11.2 bp −$112	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.207	−0.824%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.202%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.930	−0.078%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0030%	4h	96.940	−0.068%	—	$87K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.898	−0.111%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.906	−0.103%	$146.5M	$375.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.910	−0.099%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.920	−0.089%	$15.9M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.908	−0.101%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.870	−0.140%	$9.2M	$12.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.920	−0.089%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	97.006	long leg	$9.4M	$7.1M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.005%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.960	−0.048%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.930	−0.078%	$103K	$239K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	96.920	−0.089%	$278K	$269K	75x
Phemex XBRUSDT	0.0000%	4h	96.900	−0.109%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	96.943	−0.065%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.455	+0.463%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.920	−0.089%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.929	−0.080%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.98	+4.097%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.911	−0.098%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.941	−0.067%	$151.9M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.975	−0.032%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.870	−0.140%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.990	−0.017%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.930	−0.078%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0058%	1h	96.905	−0.104%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0192%	1h	96.953	−0.055%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.945	−0.063%	$83K	$218K	20x	as long as short