BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.028%

Price spread now: Deribit against Polymarket Perps−0.037%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.461%−$46 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now −0.037%, 7d avg −0.077%

Together, before fees−0.614%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.040% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.077%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 4 days (−0.461% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.416	0.0050	pay 0.0006% / 1h	44m 37s	$1.6M	$463K	20x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.380	0	get 0.0000% / 1h	44m 37s	$104K	$241K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$10.5
Price spread: −0.037% → −0.077%: $4.05
Slippage, 4 orders: −$10.54
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.99
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Deribit: live order book, 9 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, 4 min ago	2.57 bp	6.9 bp −$7	6.9 bp −$69	13.9 bp −$1,394	doesn't fit
Sell Deribit live order book, 9 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	doesn't fit	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	96.333	−1.112%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.150%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.373	−0.044%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.360	−0.057%	$147.6M	$368.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.370	−0.047%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	−0.047%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.363	−0.055%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.390	−0.027%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.330	−0.088%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.370	−0.047%	$27.9M	$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	97.348	−0.070%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.351	−0.067%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.390	−0.027%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	97.380	−0.037%	$104K	$241K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.099%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.400	−0.016%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.375	−0.042%	$223K	$228K	20x	as long as short
BloFin BZ-USDT	+0.0010%	4h	97.350	−0.068%	$1.5M	$92K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.931	+0.528%	—	—	—	as long as short
Vest BZ-PERP	+0.0030%	1h	101.41	+4.100%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.370	−0.047%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.394	−0.022%	$677K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.367	−0.050%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.409	−0.007%	$153.6M	$126.2M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.416	long leg	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.320	−0.099%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.399	−0.017%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.430	+0.014%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.410	−0.006%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.331	−0.087%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0235% / S −0.0297%	1h	97.365	−0.052%	$126K	—	111x	as long as short