Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.019%

Price spread now: BloFin against Polymarket Perps−0.035%105s7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.294% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.401%−$40 on $10k

Price spread, last 4 days (all we have)−0.453%−$45 · spread now −0.035%, 7d avg −0.096%

Together, before fees−0.854%−$85 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.061% dearer against Polymarket Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.096%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.044	0.0050	pay 0.0006% / 1h	9m 31s	$1.5M	$444K	20x
Short	BloFin BZ-USDT	97.010	0.0053	get 0.0026% / 4h	1h 09m	$1.5M	$91K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0.54
Price spread: −0.035% → −0.096%: $6.08
Slippage, 4 orders: −$9.43
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$22.81
Costs to cover: 0.294%
Break-even: 301.2 days

Slippage from Polymarket Perps: live order book, 4 min ago; BloFin: live order book, 3 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 Polymarket Perps live order book, 4 min ago	2.83 bp	6.8 bp −$7	6.8 bp −$68	17.3 bp −$1,735	doesn't fit
Sell BloFin live order book, 3 min ago	1.03 bp	7.0 bp −$7	9.2 bp −$92	21.0 bp −$2,099	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	96.141	−0.931%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.056%	$234K	$433K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.961	−0.085%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.980	−0.066%	$146.6M	$372.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.980	−0.066%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.990	−0.056%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.974	−0.072%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.940	−0.107%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.990	−0.056%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.976	−0.070%	$9.4M	$7.1M	—	as long as short

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	96.994	−0.052%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.030	−0.014%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.010	−0.035%	$104K	$247K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.970	−0.076%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.000	−0.045%	$1.2M	$86K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.536	+0.507%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	96.979	−0.067%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.990	−0.056%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.996	−0.049%	$675K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0040%	1h	101.06	+4.138%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.987	−0.059%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.005	−0.040%	$151.9M	$124.9M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.044	long leg	$1.5M	$444K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.950	−0.097%	$3.1M	$1.1M	15x	as long as short
BloFin BZ-USDTshort	+0.0053%	4h	97.010	−0.035%	$1.5M	$91K	50x
KuCoin BZUSDTM	+0.0100%	4h	97.030	−0.014%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.010	−0.035%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0129%	1h	97.001	−0.045%	$7K	$43K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	97.010	−0.035%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0185% / S +0.0028%	1h	97.005	−0.040%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.027	−0.017%	$84K	$218K	20x	as long as short