Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against Variational Omni−0.013%7-day average +0.034% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.013%, 7d avg +0.034%

Together, before fees+0.019%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.048% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.034%). If the spread goes back, that is −$5 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BZ	97.668	0	get 0.0000% / 4h	2h 10m	$9.4M	$7.0M	—
Short	tradeXYZ xyz:BRENTOIL	97.655	0.0050	get 0.0006% / 1h	10m 11s	$154.4M	$124.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.013%Rate

Funding earned: $10.5
Price spread: −0.013% → +0.034%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$12.25
Costs to cover: 0.180%
Break-even: 15.2 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; tradeXYZ: live order book, 10 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 Variational Omni RFQ quote, 4 min ago	2.62 bp	doesn't fit	3.8 bp −$38	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.20 bp	9.7 bp −$10	11.1 bp −$111	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	96.939	−0.746%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.141%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0041%	4h	97.680	+0.012%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0024%	1h	97.720	+0.053%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.602	−0.068%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.584	−0.086%	$147.6M	$359.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.580	−0.090%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.590	−0.080%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.661	−0.007%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.620	−0.049%	$9.3M	$11.7M	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	97.640	−0.029%	$27.7M	$17.3M	100x	as long as short
Variational Omni BZlong	0.0000%	4h	97.668	long leg	$9.4M	$7.0M	—
GRVT BZ_USDT_Perp	0.0000%	4h	97.656	−0.012%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.720	+0.053%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.600	−0.070%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.660	−0.008%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.590	−0.080%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	97.667	−0.001%	$225K	$227K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.649	−0.019%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.171	+0.515%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	101.73	+4.159%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.600	−0.070%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.602	−0.068%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.702	+0.035%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.655	−0.013%	$154.4M	$124.2M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.710	+0.043%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.640	−0.029%	$3.1M	$999K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	97.679	+0.011%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.720	+0.053%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.710	+0.043%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.635	−0.034%	$116K	—	111x	as long as short