BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2524%/8h= +276.4% APRnext payment +$3.15 per $10,000 · paid last 24h −0.009%

Price spread now: GMX against Polymarket Perps−0.069%7-day average −0.089% · you buy dearer than you sell

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

Long on Polymarket Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now −0.069%, 7d avg −0.089%

Together, before fees−0.104%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$76 a day on $10k at the current rate, and GMX is 0.020% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.089%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.003% in total (about -0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.15 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.672	0.0050	pay 0.0006% / 1h	24m 13s	$1.6M	$463K	20x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.605	L +0.0319% / S −0.2574%	get 0.0322% / 1h	24m 13s	$116K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $530.04
Price spread: −0.069% → −0.089%: $2
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $512.04
Costs to cover: 0.200%
Break-even: 0.2 days

Slippage unknown: Polymarket Perps: live order book, 4 min ago; GMX: 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, 4 min ago	2.15 bp	6.1 bp −$6	7.3 bp −$73	13.9 bp −$1,387	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	96.783	−0.910%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.145%	$235K	$430K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.591	−0.083%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.580	−0.094%	$147.7M	$361.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.560	−0.115%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.550	−0.125%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.621	−0.052%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.520	−0.156%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.580	−0.094%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.619	−0.054%	$9.4M	$7.0M	—	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	97.601	−0.073%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	−0.023%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.600	−0.074%	$101K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.084%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.580	−0.094%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.606	−0.067%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.156	+0.496%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.644	−0.029%	$225K	$227K	20x	as long as short
BloFin BZ-USDT	+0.0012%	4h	97.660	−0.012%	$1.5M	$97K	50x	as long as short
Vest BZ-PERP	+0.0017%	1h	101.70	+4.124%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.590	−0.084%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.593	−0.081%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.627	−0.046%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.567	−0.108%	$154.1M	$123.9M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.672	long leg	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.640	−0.033%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0060%	1h	97.647	−0.026%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	97.650	−0.023%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.600	−0.074%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.620	−0.053%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0319% / S −0.2574%	1h	97.605	−0.069%	$116K	—	111x