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 −0.015%

Price spread now: Bybit against Polymarket Perps−0.087%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Polymarket Perps Short on Bybit

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+0.017%+$2 · spread now −0.087%, 7d avg −0.115%

Together, before fees−0.491%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.028% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.087% now, against its 7-day average of −0.115%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 45 hours. At the pace of the last 7 days (−0.508% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	96.884	0.0050	pay 0.0006% / 1h	37m 31s	$1.5M	$446K	20x
Short	Bybit BZUSDT	96.800	0	get 0.0000% / 8h	5h 37m	$10.3M	$13.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$10.5
Price spread: −0.087% → −0.115%: $2.83
Slippage, 4 orders: −$11.1
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.77
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Bybit: live order book, 6 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, 1 min ago	1.81 bp	5.8 bp −$6	7.3 bp −$73	15.7 bp −$1,571	doesn't fit
Sell Bybit live order book, 6 min ago	0.52 bp	8.4 bp −$8	12.1 bp −$121	89.5 bp −$8,953	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	96.164	−0.743%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	−0.035%	$233K	$426K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0060%	1h	96.840	−0.045%	$103K	$241K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.840	−0.045%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0031%	4h	96.880	−0.004%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.850	−0.035%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.827	−0.058%	$146.5M	$374.3M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.800	−0.087%	$10.3M	$13.3M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.830	−0.056%	$15.9M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.817	−0.069%	$2.2M	$1.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.800	−0.087%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.830	−0.056%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.846	−0.039%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.828	−0.058%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.850	−0.035%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.840	−0.045%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.840	−0.045%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	96.838	−0.048%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.398	+0.531%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.840	−0.045%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.852	−0.033%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.89	+4.135%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.824	−0.062%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.843	−0.042%	$151.7M	$125.2M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	96.884	long leg	$1.5M	$446K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.780	−0.107%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.880	−0.004%	$3.8M	$873K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.820	−0.066%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0051%	1h	96.835	−0.051%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0190%	1h	96.891	+0.007%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0299%	1h	96.861	−0.023%	$83K	$218K	20x	as long as short