Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against SunX+0.013%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$620.623% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.431%+$43 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now +0.013%, 7d avg +0.070%

Together, before fees+0.595%+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.057% cheaper against SunX than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.070%). If the spread goes back, that is −$6 on $10k: about 3.8 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.431% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.470	0	get 0.0000% / 4h	2h 53m	$4K	$2.5M	20x
Short	Polymarket Perps BRENTOIL-USD	97.483	0.0050	get 0.0006% / 1h	53m 35s	$1.6M	$463K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.013%Rate

Funding earned: $10.5
Price spread: +0.013% → +0.070%: −$5.68
Slippage, 4 orders: −$46.32
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$57.49
Costs to cover: 0.623%
Break-even: 45.3 days

Slippage from SunX: live order book, 4 min ago; Polymarket Perps: 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 SunX live order book, 4 min ago	18.46 bp	22.5 bp −$22	30.5 bp −$305	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.15 bp	6.2 bp −$6	7.1 bp −$71	17.1 bp −$1,711	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	96.684	−0.806%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.460	−0.010%	$237K	$443K	15x	as long as short
BloFin BZ-USDT	−0.0012%	4h	97.500	+0.031%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.462	−0.008%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.480	+0.010%	$147.4M	$365.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.470	0.000%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.490	+0.021%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.462	−0.008%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.450	−0.021%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.470	0.000%	$28.0M	$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	97.458	−0.012%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.470	0.000%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.470	long leg	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.450	−0.021%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.430	−0.041%	$280K	$264K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.480	+0.010%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.446	−0.024%	$224K	$226K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.477	+0.007%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.999	+0.542%	—	—	—	as long as short
Vest BZ-PERP	+0.0021%	1h	101.52	+4.155%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.480	+0.010%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.491	+0.022%	$679K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.478	+0.008%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.480	+0.010%	$153.7M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	97.483	+0.013%	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.420	−0.051%	$3.1M	$1.0M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.490	+0.021%	$34K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0066%	1h	97.478	+0.008%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.530	+0.062%	$3.8M	$838K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.440	−0.031%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0288% / S −0.2040%	1h	97.455	−0.015%	$115K	—	111x	as long as short