Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0384%/8h= −42.1% APRpaid last 24h −0.006%

Price spread now: RISEx against Variational Omni+0.069%7-day average +0.066% · you sell dearer than you buy

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

Long on Variational Omni Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.136%+$14 on $10k

Price spread, last 7 days+0.095%+$10 · spread now +0.069%, 7d avg +0.066%

Together, before fees+0.231%+ Points / potential airdropVariational Omni: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.136%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.136% in total (about 13.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	94.280	0	get 0.0000% / 4h	55m 28s	$8.9M	$6.7M	—
Short	RISEx BZ/USDC	94.346	−0.0384	pay 0.0048% / 1h	55m 28s	$2.2M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Variational Omni. 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 Variational OmnibpFee RISExbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$80.69
Price spread: +0.069% → +0.066%: $0.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$86.37
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; RISEx: live order book, 2 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, 2 min ago	2.65 bp	doesn't fit	4.2 bp −$42	doesn't fit	doesn't fit
Sell RISEx live order book, 2 min ago	1.17 bp	4.2 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit

BZ on 31 exchanges

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
RISEx BZ/USDCshort	−0.0384%	1h	94.346	+0.069%	$2.2M	$2.6M	20x
Kraken Futures PF_BRENTOILUSD	−0.0337%	1h	94.251	−0.031%	$106K	$276K	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0280%	1h	94.290	+0.011%	$29K	$386K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.150	−0.138%	$246K	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0060%	8h	94.360	+0.085%	$10.5M	$17.4M	100x	as long as short
Binance BZUSDT	−0.0021%	4h	94.400	+0.127%	$145.6M	$465.8M	100x	as long as short
edgeX BZUSDC	−0.0012%	4h	94.203	−0.081%	$217K	$230K	20x	as long as short
BloFin BZ-USDT	−0.0011%	4h	94.250	−0.032%	$1.5M	$123K	50x	as long as short
GRVT BZ_USDT_Perp	−0.0006%	4h	94.243	−0.040%	$16K	$307K	25x	as long as short
OKX BZ-USDT-SWAP	−0.0002%	4h	94.380	+0.106%	$15.7M	$28.6M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.444	+0.173%	$324K	$634K	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.350	+0.074%	$8.8M	$12.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.390	+0.117%	$27.3M	$30.2M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	94.280	long leg	$8.9M	$6.7M	—
SunX BRENTOIL-USDT	0.0000%	4h	94.300	+0.021%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.120	−0.170%	$241K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.320	+0.042%	$1.2M	$91K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0008%	1h	94.076	−0.217%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.801	+0.553%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.910	+3.850%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.370	+0.095%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.410	+0.137%	$753K	$3.9M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.590%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	94.368	+0.093%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.418	+0.146%	$139.6M	$184.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.276	−0.004%	$1.5M	$495K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.320	+0.042%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.360	+0.085%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.290	+0.011%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0165% / S −0.0429%	1h	94.265	−0.016%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0504%	1h	94.280	0.000%	$32K	—	20x	as long as short