Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Ondo Perps against Polymarket Perps−0.149%7-day average −0.191% · you buy dearer than you sell

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

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.149%, 7d avg −0.191%

Together, before fees−0.254%+ Points / potential airdropOndo Perps: Active · farm board−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.042% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.191%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.015	0.0050	pay 0.0006% / 1h	47m 47s	$1.5M	$446K	20x
Short	Ondo Perps BRENT-USD.P	96.870	0.0050	get 0.0006% / 1h	47m 47s	$3.1M	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.149%Rate

Funding earned: $0.08
Price spread: −0.149% → −0.191%: $4.19
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8.73
Costs to cover: 0.130%
Break-even: 734.5 days

Slippage unknown: Polymarket Perps: live order book, 1 min ago; Ondo Perps: no order-book sample. 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 Polymarket Perps live order book, 1 min ago	1.86 bp	5.9 bp −$6	6.7 bp −$67	14.4 bp −$1,436	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective BRENT/USDC PERP	−0.0220%	1h	96.207	−0.833%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.211%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.970	−0.046%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.947	−0.070%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.960	−0.057%	$146.6M	$375.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.950	−0.067%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.960	−0.057%	$15.9M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.949	−0.068%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.920	−0.098%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.950	−0.067%	$27.4M	$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
Variational Omni BZ	0.0000%	4h	97.006	−0.009%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	−0.004%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.970	−0.046%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.960	−0.057%	$104K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	−0.098%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.960	−0.057%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.493	+0.493%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.887	−0.132%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.960	−0.057%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.968	−0.048%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.00	+4.108%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.949	−0.068%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.966	−0.051%	$151.9M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.015	long leg	$1.5M	$446K	20x
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	96.870	−0.149%	$3.1M	$1.1M	15x
KuCoin BZUSDTM	+0.0100%	4h	97.020	+0.005%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.970	−0.046%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0060%	1h	96.955	−0.062%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0197%	1h	96.969	−0.047%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.985	−0.031%	$84K	$218K	20x	as long as short