Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Variational Omni+0.002%7-day average +0.019% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.037%−$4 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.002%, 7d avg +0.019%

Together, before fees−0.045%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.738	0	get 0.0000% / 4h	1h 41m	$9.4M	$6.8M	—
Short	Lighter BRENTOIL	97.740	0.0032	get 0.0004% / 1h	41m 26s	$3.3M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.002%Rate

Funding earned: $6.72
Price spread: +0.002% → +0.019%: −$1.65
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.07
Costs to cover: 0.000%
Break-even: 1.7 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Lighter: live order book, 6 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	3.4 bp −$34	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.51 bp	0.5 bp −$1	1.3 bp −$13	5.4 bp −$541	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	96.817	−0.942%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.213%	$235K	$416K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0057%	1h	97.720	−0.018%	$100K	$251K	15x	as long as short
BloFin BZ-USDT	−0.0022%	4h	97.770	+0.033%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.751	+0.014%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.750	+0.012%	$147.6M	$352.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.700	−0.039%	$10.1M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.730	−0.008%	$16.1M	$19.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.717	−0.022%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.690	−0.049%	$9.3M	$10.9M	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	97.760	+0.023%	$28.0M	$17.4M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	97.738	long leg	$9.4M	$6.8M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.779	+0.042%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.820	+0.084%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.760	+0.023%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.790	+0.053%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.792	+0.056%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0011%	1h	101.86	+4.218%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.327	+0.603%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.740	+0.002%	$3.3M	$4.0M	20x
Extended XBR-USD	+0.0032%	1h	97.754	+0.017%	$682K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.749	+0.012%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.795	+0.058%	$155.0M	$119.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.793	+0.056%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.710	−0.029%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0085%	1h	97.782	+0.045%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.770	+0.033%	$3.8M	$823K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.840	+0.104%	$26K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	97.820	+0.084%	$34K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.786	+0.049%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.765	+0.028%	$116K	—	111x	as long as short