Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Bybit+0.023%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.507%+$51 on $10k

Price spread, last 7 days+0.025%+$2 · spread now +0.023%, 7d avg +0.108%

Together, before fees+0.531%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.085% cheaper against Bybit than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.108%). If the spread goes back, that is −$8 on $10k: about 2.1 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BZUSDT	93.930	−0.0087	get 0.0087% / 8h	5h 46m	$10.7M	$16.9M	100x
Short	Polymarket Perps BRENTOIL-USD	93.952	0.0050	get 0.0006% / 1h	46m 31s	$1.5M	$487K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now +0.023%Rate

Funding earned: $28.72
Price spread: +0.023% → +0.108%: −$8.49
Slippage, 4 orders: −$15.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.18
Costs to cover: 0.344%
Break-even: 10.5 days

Slippage from Bybit: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 Bybit live order book, 5 min ago	1.07 bp	7.5 bp −$8	11.4 bp −$114	82.3 bp −$8,229	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	4.47 bp	8.5 bp −$8	10.1 bp −$101	doesn't fit	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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	93.860	−0.075%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0602%	1h	93.770	−0.170%	$39K	$379K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0343%	1h	93.798	−0.140%	$96K	$266K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	93.854	−0.081%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.965%	$8K	$7K	30x	as long as short
Bybit BZUSDTlong	−0.0087%	8h	93.930	long leg	$10.7M	$16.9M	100x
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	93.840	−0.096%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0076%	4h	93.947	+0.018%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0036%	4h	93.930	0.000%	$144.9M	$470.0M	100x	as long as short
edgeX BZUSDC	−0.0023%	4h	93.931	+0.001%	$216K	$231K	20x	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	93.891	−0.042%	$322K	$819K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	93.940	+0.011%	$15.7M	$28.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	93.870	−0.064%	$8.8M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	93.950	+0.021%	$27.6M	$30.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.891	−0.041%	$9.0M	$6.6M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	93.940	+0.011%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.910	−0.021%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.200	+0.287%	$1.2M	$80K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.280	+0.372%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.610	+3.918%	—	$736K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0026%	1h	93.970	+0.043%	$129.6M	$184.7M	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	93.885	−0.048%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0029%	1h	94.047	+0.124%	$7K	$38K	5x	as long as short
BloFin BZ-USDT	+0.0032%	4h	93.850	−0.085%	$1.5M	$110K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	93.890	−0.043%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	93.940	+0.010%	$760K	$3.8M	10x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	93.952	+0.023%	$1.5M	$487K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	93.880	−0.053%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	93.880	−0.053%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.860	−0.075%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	93.815	−0.122%	$32K	—	111x	as long as short