Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.014%

Price spread now: edgeX against Polymarket Perps−0.088%64s7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as 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−$420.425% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now −0.088%, 7d avg −0.112%

Together, before fees−0.558%+ Points / potential airdropedgeX: Active · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.025% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.088% now, against its 7-day average of −0.112%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.376% in total) that is about 11 hours. The two prices were read 64 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	96.892	0.0050	pay 0.0006% / 1h	47m 48s	$1.5M	$506K	20x
Short	edgeX BZUSDC	96.807	0.0017	get 0.0008% / 4h	2h 47m	$222K	$233K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$7
Price spread: −0.088% → −0.112%: $2.46
Slippage, 4 orders: −$25.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$47.03
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; edgeX: live order book, 19 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	2.48 bp	6.5 bp −$6	7.6 bp −$76	15.8 bp −$1,584	doesn't fit
Sell edgeX live order book, 19 min ago	9.83 bp	14.4 bp −$14	16.5 bp −$165	64.4 bp −$6,443	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	95.962	−0.960%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.250%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.136%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.845	−0.048%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.840	−0.053%	$146.0M	$393.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.820	−0.074%	$10.4M	$14.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.840	−0.054%	$15.9M	$23.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.797	−0.098%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.800	−0.095%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.830	−0.064%	$27.7M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.860	−0.033%	$9.4M	$7.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.840	−0.053%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.850	−0.043%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.860	−0.033%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.780	−0.116%	$308K	$223K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.840	−0.054%	$1.2M	$88K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.368	+0.491%	—	—	—	as long as short
edgeX BZUSDCshort	+0.0017%	4h	96.807	−0.088%	$222K	$233K	20x
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.850	−0.043%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.830	−0.064%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.848	−0.046%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.85	+4.085%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.806	−0.089%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.848	−0.045%	$151.7M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	96.892	long leg	$1.5M	$506K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.730	−0.167%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	−0.033%	$3.8M	$915K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.870	−0.023%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0111%	1h	96.835	−0.059%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.864	−0.029%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0291%	1h	96.844	−0.050%	$7K	$44K	5x	as long as short