Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.022%

Price spread now: Variational Omni against Aftermath Perps−0.026%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.026% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BRENTUSD	97.815	0.0078	pay 0.0010% / 1h	48m 33s	$7K	$41K	5x
Short	Variational Omni BZ	97.789	0	get 0.0000% / 4h	1h 48m	$9.4M	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aftermath Perps. 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 Aftermath PerpsbpFee Variational OmnibpOrdersPrice spread, now −0.026%Rate

Funding earned: −$16.31
Price spread: −0.026% → 0.000%: −$2.63
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.94
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 1 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	2.62 bp	doesn't fit	3.2 bp −$32	doesn't fit	doesn't fit

Aftermath Perps: 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	96.817	−1.020%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.291%	$235K	$416K	15x	as long as short
BloFin BZ-USDT	−0.0004%	4h	97.840	+0.026%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.842	+0.028%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.840	+0.026%	$147.7M	$353.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.830	+0.016%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.840	+0.026%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.813	−0.002%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.800	−0.015%	$9.3M	$10.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.860	+0.046%	$27.9M	$17.4M	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 BZshort	0.0000%	4h	97.789	−0.026%	$9.4M	$6.8M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.770	−0.046%	$27K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.890	+0.077%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.860	+0.046%	$101K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.770	−0.046%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.840	+0.026%	$1.2M	$79K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.415	+0.613%	—	—	—	as long as short
Vest BZ-PERP	+0.0012%	1h	101.94	+4.218%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0014%	4h	97.767	−0.048%	$225K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.840	+0.026%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.837	+0.023%	$678K	$3.5M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0032%	1h	97.860	+0.046%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.854	+0.040%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.839	+0.025%	$155.0M	$118.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.880	+0.067%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.820	+0.006%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSDlong	+0.0078%	1h	97.815	long leg	$7K	$41K	5x
KuCoin BZUSDTM	+0.0100%	4h	97.860	+0.046%	$3.9M	$828K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.790	−0.025%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.874	+0.061%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.865	+0.052%	$116K	—	111x	as long as short