Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.016%

Price spread now: Variational Omni against tradeXYZ−0.041%7-day average −0.033% · you buy dearer than you sell

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

Long on tradeXYZ Short on Variational Omni

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+0.019%+$2 · spread now −0.041%, 7d avg −0.033%

Together, before fees+0.022%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BRENTOIL	96.995	0.0050	pay 0.0006% / 1h	24m 54s	$151.9M	$125.5M	20x
Short	Variational Omni BZ	96.955	0	get 0.0000% / 4h	1h 24m	$9.3M	$7.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now −0.041%Rate

Funding earned: −$10.5
Price spread: −0.041% → −0.033%: −$0.82
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.32
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 tradeXYZ live order book, 4 min ago	0.21 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.63 bp	doesn't fit	3.4 bp −$34	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	96.164	−0.857%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.098%	$233K	$431K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.977	−0.019%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.910	−0.088%	$146.7M	$373.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.930	−0.067%	$10.3M	$13.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	−0.098%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.970	−0.026%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.880	−0.119%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.940	−0.057%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZshort	0.0000%	4h	96.955	−0.041%	$9.3M	$7.1M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.959	−0.037%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.000	+0.005%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.990	−0.005%	$103K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	−0.077%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.990	−0.005%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.532	+0.553%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	96.953	−0.043%	$222K	$227K	20x	as long as short
BloFin BZ-USDT	+0.0024%	4h	96.980	−0.015%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.990	−0.005%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.929	−0.068%	$676K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0043%	1h	101.04	+4.170%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.978	−0.017%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILlong	+0.0050%	1h	96.995	long leg	$151.9M	$125.5M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.038	+0.044%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	−0.098%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.010	+0.015%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.000	+0.005%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0112%	1h	96.990	−0.005%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0161%	1h	96.961	−0.035%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0041%	1h	96.985	−0.010%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.011	+0.016%	$84K	$218K	20x	as long as short