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 +0.018%

Price spread now: Ondo Perps against Variational Omni+0.015%7-day average −0.075% · you sell dearer than you buy

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.015%, 7d avg −0.075%

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.090% dearer against Variational Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	96.885	0	get 0.0000% / 4h	1h 26m	$9.3M	$7.1M	—
Short	Ondo Perps BRENT-USD.P	96.900	0.0050	get 0.0006% / 1h	26m 32s	$3.1M	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. 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 Variational OmnibpFee Ondo PerpsbpOrdersPrice spread, now +0.015%Rate

Funding earned: $10.58
Price spread: +0.015% → −0.075%: $9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $14.58
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Ondo Perps: 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, 3 min ago	2.63 bp	doesn't fit	4.8 bp −$48	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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	96.164	−0.744%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	+0.015%	$233K	$431K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.002	+0.121%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.972	+0.090%	$146.8M	$373.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.950	+0.067%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	+0.067%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.962	+0.079%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.940	+0.057%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.990	+0.108%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	96.885	long leg	$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	96.909	+0.025%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.010	+0.129%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.020	+0.139%	$104K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	+0.036%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.020	+0.139%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	96.894	+0.009%	$222K	$229K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.530	+0.665%	—	—	—	as long as short
BloFin BZ-USDT	+0.0021%	4h	97.030	+0.150%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.990	+0.108%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.981	+0.099%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0043%	1h	101.03	+4.278%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.990	+0.108%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.993	+0.111%	$151.9M	$125.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.023	+0.142%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	96.900	+0.015%	$3.1M	$1.1M	15x
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.020	+0.139%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.119%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	+0.015%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0165%	1h	96.931	+0.048%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0042%	1h	96.985	+0.103%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.017	+0.136%	$84K	$218K	20x	as long as short