Settings8H · net · $10k
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Funding arb · Price arb /

BZ

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Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0138%/8h= +15.1% APRnext payment +$0.17 per $10,000 · paid last 24h +0.039%
Price spread now: Polymarket Perps against Coinbase International+0.147%47s7-day average +0.198% · you sell dearer than you buy
Net, funding: paid 7d − costs+$37as 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−$270.269% of the position
Long on Coinbase InternationalShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.640%+$64 on $10k
Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.147%, 7d avg +0.198%
Together, before fees+0.727%+$73 on $10k · with fees, hour by hour
Funding pays, the price is against you. Polymarket Perps is 0.051% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.147% now, against its 7-day average of +0.198%). If the spread goes back, that is −$5 on $10k: about 29 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.640% in total) that is about 13 hours. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International BRENTOIL-PERP-INTX97.270−0.0088get 0.0011% / 1h44m 22s$233K$439K15x
ShortPolymarket Perps BRENTOIL-USD97.4130.0050get 0.0006% / 1h44m 22s$1.6M$463K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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

Funding earned
$28.98
Price spread: +0.147% → +0.198%
−$5.05
Slippage, 4 orders
−$8.87
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$2.94
Costs to cover
0.269%
Break-even
7.7 days
Slippage from Coinbase International: live order book, 9 min ago; Polymarket Perps: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Coinbase International live order book, 9 min ago1.54 bp6.9 bp −$79.7 bp −$97doesn't fitdoesn't fit
Sell Polymarket Perps live order book, 4 min ago2.57 bp6.6 bp −$78.2 bp −$8221.7 bp −$2,174doesn't fit

BZ on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BRENT/USDC PERP−0.0220%1h96.333−0.963%$8K$7K30xas long as short
Coinbase International BRENTOIL-PERP-INTXlong−0.0088%1h97.270long leg$233K$439K15x
Aster BZUSDT0.0000%4h97.366+0.098%$339K$930K50xas long as short
Binance BZUSDT0.0000%4h97.364+0.097%$147.6M$368.0M100xas long as short
Bybit BZUSDT0.0000%8h97.370+0.103%$10.4M$12.7M100xas long as short
OKX BZ-USDT-SWAP0.0000%4h97.370+0.103%$16.0M$20.4M50xas long as short
RISEx BZ/USDC0.0000%1h97.363+0.095%$2.4M$1.7M20xas long as short
Hotstuff BRENTOIL-PERP0.0000%1h97.390+0.123%$34K—20xas long as short
Gate BZ_USDT0.0000%8h97.330+0.062%$9.2M$12.1M100xas long as short
Bitget BZUSDT0.0000%4h97.370+0.103%$27.9M$16.6M100xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni BZ0.0000%4h97.348+0.080%$9.4M$6.8M—as long as short
GRVT BZ_USDT_Perp0.0000%4h97.351+0.083%$29K$346K25xas long as short
SunX BRENTOIL-USDT0.0000%4h97.390+0.123%$4K$2.5M20xas long as short
Deribit BRENTOIL_USDC-PERPETUAL0.0000%1h97.380+0.113%$104K$241K15xas long as short
HTX BRENTOIL-USDT0.0000%4h97.320+0.051%$279K$267K75xas long as short
Phemex XBRUSDT0.0000%4h97.400+0.134%$1.2M$84K100xas long as short
edgeX BZUSDC+0.0008%4h97.375+0.108%$223K$228K20xas long as short
BloFin BZ-USDT+0.0010%4h97.350+0.082%$1.5M$92K50xas long as short
gTrade (Gains Network) BRENT/USDL +0.0011% / S −0.0011%1h97.934+0.683%———as long as short
Vest BZ-PERP+0.0030%1h101.42+4.266%—$735K10xas long as short
Lighter BRENTOIL+0.0032%1h97.370+0.103%$3.2M$4.7M20xas long as short
Extended XBR-USD+0.0032%1h97.394+0.128%$677K$4.2M10xas long as short
Paradex BZ-USD-PERP+0.0050%8h97.367+0.100%$3K$3365xas long as short
tradeXYZ xyz:BRENTOIL+0.0050%1h97.413+0.147%$153.6M$126.2M20xas long as short
Polymarket Perps BRENTOIL-USDshort+0.0050%1h97.413+0.147%$1.6M$463K20x
Ondo Perps BRENT-USD.P+0.0050%1h97.320+0.051%$3.1M$1.0M15xas long as short
Kraken Futures PF_BRENTOILUSD+0.0063%1h97.399+0.133%$82K$208K20xas long as short
KuCoin BZUSDTM+0.0100%4h97.430+0.164%$3.8M$869K50xas long as short
ApeX Omni BZUSDT+0.0100%1h97.410+0.144%$26K$274K50xas long as short
Aftermath Perps BRENTUSD+0.0105%1h97.331+0.063%$7K$43K5xas long as short
GMX BRENTOIL/USD [ETH-USDC]L +0.0235% / S −0.0303%1h97.365+0.098%$126K—111xas long as short