Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Bybit against Polymarket Perps−0.066%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.508%−$51 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.066%, 7d avg −0.115%

Together, before fees−0.512%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.049% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.066% now, against its 7-day average of −0.115%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 7 days (−0.508% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.014	0.0050	pay 0.0006% / 1h	27m 48s	$1.5M	$444K	20x
Short	Bybit BZUSDT	96.950	0	get 0.0000% / 8h	5h 27m	$10.3M	$13.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$10.5
Price spread: −0.066% → −0.115%: $4.91
Slippage, 4 orders: −$11.48
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.07
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Bybit: live order book, 6 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, 1 min ago	2.53 bp	6.5 bp −$7	7.6 bp −$76	16.4 bp −$1,641	doesn't fit
Sell Bybit live order book, 6 min ago	0.52 bp	7.7 bp −$8	11.1 bp −$111	96.0 bp −$9,600	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	96.164	−0.876%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.900	−0.118%	$233K	$431K	15x	as long as short
BloFin BZ-USDT	−0.0004%	4h	96.900	−0.118%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.958	−0.058%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.976	−0.039%	$146.8M	$373.9M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	96.950	−0.066%	$10.3M	$13.3M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	96.960	−0.056%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.959	−0.057%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.930	−0.087%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.980	−0.035%	$27.4M	$16.4M	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	96.885	−0.133%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.880	−0.138%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	−0.045%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	−0.056%	$103K	$243K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	−0.097%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.980	−0.035%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	96.864	−0.155%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.513	+0.514%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.980	−0.035%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.987	−0.028%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0043%	1h	101.02	+4.129%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.965	−0.050%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.994	−0.021%	$152.0M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.014	long leg	$1.5M	$444K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.900	−0.118%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.020	+0.006%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.900	−0.118%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0152%	1h	97.000	−0.014%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0166%	1h	96.904	−0.114%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0183% / S +0.0043%	1h	96.975	−0.040%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.998	−0.016%	$84K	$218K	20x	as long as short