Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.001%

Price spread now: Polymarket Perps against Phemex−0.057%7-day average −0.120% · you buy dearer than you sell

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

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now −0.057%, 7d avg −0.120%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.063% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.120%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XBRUSDT	94.240	0	get 0.0000% / 4h	58m 00s	$1.2M	$91K	100x
Short	Polymarket Perps BRENTOIL-USD	94.186	0.0050	get 0.0006% / 1h	58m 00s	$1.5M	$495K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phemex. 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 PhemexbpFee Polymarket PerpsbpOrdersPrice spread, now −0.057%Rate

Funding earned: $10.5
Price spread: −0.057% → −0.120%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$3.21
Costs to cover: 0.200%
Break-even: 9.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 4 min ago. 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 Phemex live order book, 3 min ago	4.78 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	1.76 bp	6.0 bp −$6	7.7 bp −$77	19.2 bp −$1,920	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
RISEx BZ/USDC	−0.0384%	1h	94.179	−0.065%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0337%	1h	94.169	−0.075%	$106K	$275K	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0174%	1h	94.200	−0.042%	$29K	$387K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.150	−0.096%	$246K	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0062%	8h	94.230	−0.011%	$10.5M	$17.4M	100x	as long as short
BloFin BZ-USDT	−0.0051%	4h	94.140	−0.106%	$1.5M	$123K	50x	as long as short
Binance BZUSDT	−0.0020%	4h	94.264	+0.026%	$145.5M	$465.7M	100x	as long as short
GRVT BZ_USDT_Perp	−0.0010%	4h	93.888	−0.374%	$15K	$307K	25x	as long as short
edgeX BZUSDC	−0.0007%	4h	93.856	−0.407%	$216K	$232K	20x	as long as short
OKX BZ-USDT-SWAP	−0.0004%	4h	94.230	−0.011%	$15.7M	$28.5M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.254	+0.014%	$323K	$637K	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.220	−0.021%	$8.8M	$12.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.270	+0.032%	$27.3M	$30.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.850	−0.414%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.220	−0.021%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.120	−0.127%	$241K	$312K	75x	as long as short
Phemex XBRUSDTlong	0.0000%	4h	94.240	long leg	$1.2M	$91K	100x
Aftermath Perps BRENTUSD	+0.0008%	1h	93.977	−0.279%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.704	+0.493%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.810	+3.788%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.200	−0.042%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.239	−0.001%	$749K	$3.9M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.632%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0037%	8h	94.201	−0.041%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.290	+0.053%	$138.6M	$184.4M	20x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	94.186	−0.057%	$1.5M	$495K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.170	−0.074%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.190	−0.053%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.870	−0.393%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0120%	1h	94.200	−0.042%	$32K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0165% / S −0.0429%	1h	94.195	−0.048%	$22K	—	111x	as long as short