Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Injective against Variational Omni−0.942%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 −$7 a day on $10k at the current rate, and Injective is 0.942% cheaper against Variational Omni than usual: you would sell low and buy high (−$94 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	Variational Omni BZ	97.738	0	get 0.0000% / 4h	1h 44m	$9.4M	$6.8M	—
Short	Injective BRENT/USDC PERP	96.817	−0.0220	pay 0.0028% / 1h	44m 52s	$8K	$7K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.942%Rate

Funding earned: −$46.2
Price spread: −0.942% → 0.000%: −$94.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$140.44
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Injective: no order-book sample. 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, 4 min ago	2.62 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 PERPshort	−0.0220%	1h	96.817	−0.942%	$8K	$7K	30x
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.213%	$235K	$416K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0057%	1h	97.820	+0.084%	$100K	$251K	15x	as long as short
BloFin BZ-USDT	−0.0013%	4h	97.810	+0.074%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.856	+0.121%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.850	+0.115%	$147.8M	$353.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.810	+0.074%	$10.1M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.840	+0.104%	$16.1M	$20.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.791	+0.055%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.790	+0.053%	$9.3M	$10.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.850	+0.115%	$28.1M	$17.4M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	97.738	long leg	$9.4M	$6.8M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.800	+0.064%	$27K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.860	+0.125%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.800	+0.064%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.810	+0.074%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.792	+0.055%	$225K	$229K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.387	+0.664%	—	—	—	as long as short
Vest BZ-PERP	+0.0012%	1h	101.92	+4.279%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.840	+0.104%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.843	+0.107%	$678K	$3.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.819	+0.083%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.866	+0.131%	$155.0M	$119.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.874	+0.139%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.760	+0.023%	$3.1M	$999K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.798	+0.061%	$7K	$41K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.790	+0.053%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.860	+0.125%	$3.9M	$826K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.780	+0.043%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.851	+0.115%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.835	+0.099%	$116K	—	111x	as long as short