Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against Variational Omni+0.009%7-day average +0.034% · you sell dearer than you buy

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.009%, 7d avg +0.034%

Together, before fees+0.010%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.034%). If the spread goes back, that is −$2 on $10k: about 39 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.238	0	get 0.0000% / 4h	33m 58s	$9.4M	$6.9M	—
Short	tradeXYZ xyz:BRENTOIL	97.247	0.0050	get 0.0006% / 1h	33m 58s	$153.0M	$124.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.009%Rate

Funding earned: $10.5
Price spread: +0.009% → +0.034%: −$2.43
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$9.93
Costs to cover: 0.180%
Break-even: 13.6 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; tradeXYZ: 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, 5 min ago	2.62 bp	doesn't fit	4.6 bp −$46	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.05 bp	9.7 bp −$10	10.8 bp −$108	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	96.571	−0.686%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.002%	$234K	$437K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.210	−0.029%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.222	−0.017%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.218	−0.021%	$147.1M	$371.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.200	−0.039%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.220	−0.018%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.206	−0.033%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.160	−0.080%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.220	−0.018%	$27.5M	$16.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZlong	0.0000%	4h	97.238	long leg	$9.4M	$6.9M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.240	+0.002%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.230	−0.008%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.240	+0.002%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.170	−0.070%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.320	+0.084%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.209	−0.030%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.766	+0.543%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.280	+0.043%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.240	+0.002%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.236	−0.002%	$680K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0034%	1h	101.24	+4.116%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.214	−0.024%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.247	+0.009%	$153.0M	$124.8M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.273	+0.036%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.170	−0.070%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.240	+0.002%	$3.8M	$870K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.260	+0.023%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0100%	1h	97.264	+0.027%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.253	+0.016%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0200% / S −0.0061%	1h	97.215	−0.024%	$126K	—	111x	as long as short