Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Bybit against Polymarket Perps−0.048%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$310.310% 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−0.256%−$26 · spread now −0.048%, 7d avg −0.116%

Together, before fees−0.764%−$76 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.068% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.116%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.508% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.817	0.0050	pay 0.0006% / 1h	25m 03s	$1.6M	$463K	20x
Short	Bybit BZUSDT	97.770	0	get 0.0000% / 8h	1h 25m	$10.4M	$13.1M	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 −0.048%Rate

Funding earned: −$10.5
Price spread: −0.048% → −0.116%: $6.76
Slippage, 4 orders: −$12.03
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.77
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	1.89 bp	5.9 bp −$6	7.3 bp −$73	14.0 bp −$1,396	doesn't fit
Sell Bybit live order book, 3 min ago	0.51 bp	8.2 bp −$8	11.8 bp −$118	111.9 bp −$11.2K	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	97.018	−0.817%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	−0.007%	$236K	$417K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.784	−0.034%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.790	−0.028%	$147.9M	$349.5M	100x	as long as short
Bybit BZUSDTshort	0.0000%	8h	97.770	−0.048%	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.770	−0.048%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.748	−0.071%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.750	−0.068%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.780	−0.038%	$27.9M	$17.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.748	−0.071%	$9.4M	$6.9M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.798	−0.019%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.780	−0.038%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.770	−0.048%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.690	−0.130%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	98.010	+0.197%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.760	−0.058%	$225K	$227K	20x	as long as short
BloFin BZ-USDT	+0.0004%	4h	97.780	−0.038%	$1.5M	$97K	50x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.90	+4.174%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.315	+0.509%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.780	−0.038%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.782	−0.036%	$682K	$3.3M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0040%	1h	97.760	−0.058%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.740	−0.079%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.788	−0.030%	$155.2M	$116.3M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.817	long leg	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.690	−0.130%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0087%	1h	97.776	−0.042%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.790	−0.028%	$3.8M	$808K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.790	−0.028%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.783	−0.035%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.825	+0.008%	$116K	—	111x	as long as short