Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Bybit+0.083%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.508%+$51 on $10k

Price spread, last 7 days+0.007%+$1 · spread now +0.083%, 7d avg +0.116%

Together, before fees+0.515%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.033% cheaper against Bybit than usual: you would sell low and buy high (spread +0.083% now, against its 7-day average of +0.116%). If the spread goes back, that is −$3 on $10k: about 2.2 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.508% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	96.750	0	get 0.0000% / 8h	6h 21m	$10.3M	$13.8M	100x
Short	Polymarket Perps BRENTOIL-USD	96.830	0.0050	get 0.0006% / 1h	21m 25s	$1.5M	$470K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now +0.083%Rate

Funding earned: $10.5
Price spread: +0.083% → +0.116%: −$3.3
Slippage, 4 orders: −$10.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$22.77
Costs to cover: 0.300%
Break-even: 22.2 days

Slippage from Bybit: live order book, 2 min ago; Polymarket Perps: live order book, 2 min ago.

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 Bybit live order book, 2 min ago	0.52 bp	7.7 bp −$8	10.9 bp −$109	94.5 bp −$9,449	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.12 bp	7.2 bp −$7	7.3 bp −$73	15.9 bp −$1,589	doesn't fit

BZ on 30 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	96.070	−0.703%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	+0.062%	$234K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.779	+0.030%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.770	+0.021%	$146.3M	$379.8M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	96.750	long leg	$10.3M	$13.8M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.770	+0.021%	$15.9M	$21.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.762	+0.012%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.720	−0.031%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.770	+0.021%	$27.6M	$16.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.749	−0.001%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.764	+0.014%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.770	+0.021%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.800	+0.052%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.730	−0.021%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.760	+0.010%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	96.749	−0.001%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.300	+0.569%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	96.790	+0.041%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.770	+0.021%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.784	+0.035%	$673K	$5.1M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.81	+4.196%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.772	+0.023%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.782	+0.033%	$151.6M	$127.7M	20x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	96.830	+0.083%	$1.5M	$470K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.740	−0.010%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.083%	$3.8M	$891K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	+0.021%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0207% / S +0.0088%	1h	96.765	+0.016%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0247%	1h	96.792	+0.043%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.776	+0.027%	$83K	$218K	20x	as long as short