Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.027%7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.424%−$42 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.027%, 7d avg −0.105%

Together, before fees−0.537%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.131% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.105%): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.8 days. At the pace of the last 7 days (−0.424% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	93.895	0.0050	pay 0.0006% / 1h	51m 25s	$1.5M	$487K	20x
Short	OKX BZ-USDT-SWAP	93.920	0	get 0.0000% / 4h	1h 51m	$15.7M	$28.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$10.5
Price spread: +0.027% → −0.105%: $13.13
Slippage, 4 orders: −$8.51
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$23.88
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	0.05 bp	9.4 bp −$9	10.1 bp −$101	77.1 bp −$7,708	doesn't fit
Sell OKX live order book, 5 min ago	0.53 bp	6.0 bp −$6	7.5 bp −$75	24.4 bp −$2,442	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.290	+0.421%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0708%	1h	93.870	−0.027%	$45K	$374K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0343%	1h	93.876	−0.020%	$94K	$264K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	93.888	−0.008%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+1.002%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0093%	8h	93.910	+0.016%	$10.7M	$16.8M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.010	+0.122%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0076%	4h	94.133	+0.254%	$13K	$299K	25x	as long as short
BloFin BZ-USDT	−0.0051%	4h	94.110	+0.229%	$1.5M	$110K	50x	as long as short
Binance BZUSDT	−0.0030%	4h	93.920	+0.027%	$145.1M	$465.7M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:BRENTOIL	−0.0007%	1h	93.940	+0.048%	$128.9M	$182.6M	20x	as long as short
edgeX BZUSDC	−0.0007%	4h	94.025	+0.138%	$216K	$231K	20x	as long as short
Lighter BRENTOIL	0.0000%	1h	93.950	+0.059%	$3.4M	$5.5M	20x	as long as short
Aster BZUSDT	0.0000%	4h	93.940	+0.048%	$339K	$822K	50x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	93.920	+0.027%	$15.7M	$28.4M	50x
Gate BZ_USDT	0.0000%	8h	93.880	−0.016%	$8.9M	$12.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	93.930	+0.037%	$27.7M	$30.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.001	+0.113%	$9.0M	$6.6M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	93.910	+0.016%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.970	+0.080%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.310	+0.442%	$1.2M	$80K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.672	+0.827%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.620	+3.967%	—	$736K	10x	as long as short
Paradex BZ-USD-PERP	+0.0026%	8h	93.950	+0.058%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0030%	1h	94.188	+0.312%	$7K	$38K	5x	as long as short
Extended XBR-USD	+0.0032%	1h	93.944	+0.052%	$661K	$3.7M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0039%	1h	93.990	+0.101%	$3.0M	$1.1M	15x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	93.895	long leg	$1.5M	$487K	20x
KuCoin BZUSDTM	+0.0100%	4h	93.890	−0.005%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.170	+0.293%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.005	+0.117%	$32K	—	111x	as long as short