BZ

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Spread before costs (cost unknown: a leg has no order-book sample)+0.192%

7d average+0.020%if it closes, per $10,000$19funding while held, a day−$1.08

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.495	−0.0020	get 0.0010% / 4h	2h 31m	$10.1M	$11.4M	—
Short	Binance BZUSDT	96.680	−0.0056	pay 0.0028% / 4h	2h 31m	$149.2M	$365.6M	100x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee Variational OmnibpFee BinancebpOrdersClose when spread is

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Binance: live order book, 13 min ago. Net counts fees only.

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, 4 min ago	2.63 bp	doesn't fit	4.5 bp −$45	14.9 bp −$1,494	doesn't fit
Sell Binance live order book, 13 min ago	0.52 bp	5.5 bp −$6	5.9 bp −$59	11.6 bp −$1,157	54.9 bp −$27.4K

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BRENT/USDC PERP	−0.606%	−0.0220%	1h	$15K	$97	30x	as long as short
Variational Omni BZlong	0.000%	−0.0020%	4h	$10.1M	$11.4M	—
Coinbase International BRENTOIL-PERP-INTX	+0.067%	−0.0088%	1h	$259K	$659K	15x	as long as short
edgeX BZUSDC	+0.086%	−0.0052%	4h	$221K	$237K	20x	as long as short
ApeX Omni BZUSDT	+0.129%	+0.0100%	1h	$25K	$271K	50x	as long as short
HTX BRENTOIL-USDT	+0.140%	0.0000%	4h	$289K	$133K	75x	as long as short
Gate BZ_USDT	+0.171%	0.0000%	8h	$9.3M	$16.1M	100x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.181%	−0.0164%	1h	$136K	$162K	15x	as long as short
Binance BZUSDTshort	+0.192%	−0.0056%	4h	$149.2M	$365.6M	100x
Aftermath Perps BRENTUSD	+0.201%	−0.0025%	1h	$7K	$50K	5x	as long as short

Show all 30 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit BZUSDT	+0.202%	0.0000%	8h	$10.9M	$13.3M	100x	as long as short
Bitget BZUSDT	+0.202%	0.0000%	4h	$28.8M	$18.1M	100x	as long as short
SunX BRENTOIL-USDT	+0.202%	0.0000%	4h	$4K	$2.2M	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	+0.207%	L +0.0080% / S +0.0072%	1h	$53K	—	111x	as long as short
Lighter BRENTOIL	+0.212%	+0.0032%	1h	$3.3M	$3.6M	20x	as long as short
Aster BZUSDT	+0.217%	−0.0059%	4h	$339K	$1.5M	50x	as long as short
OKX BZ-USDT-SWAP	+0.223%	0.0000%	4h	$16.8M	$28.1M	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.233%	+0.0050%	1h	$144.0M	$106.0M	20x	as long as short
Extended XBR-USD	+0.241%	+0.0032%	1h	$704K	$4.7M	10x	as long as short
RISEx BZ/USDC	+0.244%	0.0000%	1h	$2.3M	$350K	20x	as long as short
Paradex BZ-USD-PERP	+0.251%	+0.0043%	8h	$3K	$282	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.258%	−0.0138%	1h	$175K	$347K	20x	as long as short
KuCoin BZUSDTM	+0.274%	+0.0100%	4h	$3.7M	$858K	50x	as long as short
Ondo Perps BRENT-USD.P	+0.295%	+0.0050%	1h	$3.1M	$973K	15x	as long as short
Polymarket Perps BRENTOIL-USD	+0.303%	+0.0050%	1h	$1.6M	$500K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.305%	+0.0168%	1h	$33K	—	20x	as long as short
BloFin BZ-USDT	+0.357%	−0.0001%	4h	$1.6M	$56K	50x	as long as short
Phemex XBRUSDT	+0.523%	0.0000%	4h	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	+0.939%	L +0.0011% / S −0.0011%	1h	—	—	—	as long as short
Vest BZ-PERP	+3.881%	−0.0142%	1h	—	—	10x	as long as short