Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.003%

Price spread now: OKX against Polymarket Perps−0.075%47s7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as 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−$250.252% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.483%−$48 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.075%, 7d avg −0.109%

Together, before fees−0.440%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.034% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.075% now, against its 7-day average of −0.109%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.483% in total) that is about 12 hours. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	96.262	0.0050	pay 0.0006% / 1h	12m 44s	$1.5M	$525K	20x
Short	OKX BZ-USDT-SWAP	96.190	0	get 0.0000% / 4h	12m 44s	$15.8M	$26.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$10.5
Price spread: −0.075% → −0.109%: $3.43
Slippage, 4 orders: −$7.18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.26
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; OKX: live order book, 1 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, 6 min ago	2.39 bp	6.4 bp −$6	7.0 bp −$70	17.1 bp −$1,707	doesn't fit
Sell OKX live order book, 1 min ago	0.52 bp	5.5 bp −$6	8.9 bp −$89	25.5 bp −$2,545	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.195	−0.070%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.808%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	96.240	−0.023%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.199%	$232K	$534K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.189	−0.076%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	−0.054%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.193	−0.072%	$145.8M	$451.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.210	−0.054%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.190	−0.075%	$15.8M	$26.5M	50x
Gate BZ_USDT	0.0000%	8h	96.160	−0.106%	$9.2M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.180	−0.085%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.181	−0.084%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.206	−0.058%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	−0.044%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.230	−0.033%	$103K	$275K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.120	−0.148%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.200	−0.064%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	96.186	−0.079%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0029%	8h	96.189	−0.076%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0039%	4h	96.160	−0.106%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.880	+3.758%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.225	−0.038%	$151.0M	$144.1M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	96.262	long leg	$1.5M	$525K	20x
Aftermath Perps BRENTUSD	+0.0083%	1h	96.270	+0.008%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.100	−0.168%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.210	−0.054%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.246	−0.017%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0272%	1h	96.210	−0.054%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0405%	1h	96.160	−0.106%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0560%	1h	96.133	−0.134%	$675K	$5.2M	10x	as long as short