BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.2721%/8h= +298.0% APRnext payment +$3.40 per $10,000 · paid last 24h +0.089%

Price spread now: GMX against Polymarket Perps−0.067%7-day average −0.087% · you buy dearer than you sell

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

Long on Polymarket Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)−0.234%−$23 · spread now −0.067%, 7d avg −0.087%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and GMX is 0.021% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.087%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.099% in total (about 10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.320	0.0050	pay 0.0006% / 1h	34m 45s	$1.6M	$344K	20x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.255	L +0.0328% / S −0.2771%	get 0.0346% / 1h	34m 45s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $571.5
Price spread: −0.067% → −0.087%: $2.06
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $553.56
Costs to cover: 0.200%
Break-even: 0.2 days

Slippage unknown: Polymarket Perps: live order book, 4 min ago; GMX: no order-book sample. 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 Polymarket Perps live order book, 4 min ago	255.91 bp	862.8 bp −$863	11361.5 bp −$113.6K	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.310	−0.010%	$100K	$262K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.005%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0076%	1h	97.130	−0.195%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.164%	$237K	$401K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.268	−0.054%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.324	+0.004%	$82K	$197K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.280	−0.041%	$338K	$735K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.221	−0.102%	$148.6M	$352.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.220	−0.103%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.190	−0.134%	$16.1M	$19.8M	50x	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	97.190	−0.134%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.230	−0.092%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.329	+0.009%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.354	+0.035%	$13K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.330	+0.010%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.360	+0.041%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.360	+0.041%	$1.2M	$83K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.420	+0.103%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.24	+4.028%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.872	+0.567%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.354	+0.035%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.240	−0.082%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.277	−0.044%	$753K	$2.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	97.247	−0.074%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.271	−0.050%	$155.4M	$115.7M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.320	long leg	$1.6M	$344K	20x
BloFin BZ-USDT	+0.0057%	4h	97.310	−0.010%	$1.5M	$100K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	97.383	+0.064%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.240	−0.082%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.380	+0.062%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0328% / S −0.2771%	1h	97.255	−0.067%	$115K	—	111x