Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: HTX against Polymarket Perps−0.282%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.439%−$44 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.282%, 7d avg −0.124%

Together, before fees−0.392%−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.158% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.124%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	94.386	0.0050	pay 0.0006% / 1h	54m 52s	$1.5M	$495K	20x
Short	HTX BRENTOIL-USDT	94.120	0	get 0.0000% / 4h	54m 52s	$241K	$312K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$10.5
Price spread: −0.282% → −0.124%: −$15.77
Slippage, 4 orders: −$11.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$58.03
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; HTX: live order book, 50 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, 2 min ago	2.28 bp	7.1 bp −$7	7.2 bp −$72	20.7 bp −$2,069	doesn't fit
Sell HTX live order book, 50 min ago	3.18 bp	9.2 bp −$9	10.3 bp −$103	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
RISEx BZ/USDC	−0.0384%	1h	94.346	−0.043%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0337%	1h	94.379	−0.007%	$107K	$276K	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0279%	1h	94.390	+0.004%	$29K	$385K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.150	−0.250%	$246K	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0060%	8h	94.440	+0.057%	$10.4M	$17.4M	100x	as long as short
Binance BZUSDT	−0.0021%	4h	94.451	+0.069%	$145.7M	$466.1M	100x	as long as short
edgeX BZUSDC	−0.0012%	4h	94.203	−0.194%	$217K	$230K	20x	as long as short
GRVT BZ_USDT_Perp	−0.0006%	4h	94.243	−0.152%	$16K	$307K	25x	as long as short
OKX BZ-USDT-SWAP	−0.0002%	4h	94.440	+0.057%	$15.8M	$28.6M	50x	as long as short
BloFin BZ-USDT	−0.0001%	4h	94.400	+0.015%	$1.5M	$123K	50x	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	94.456	+0.074%	$324K	$634K	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.400	+0.015%	$8.8M	$12.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.460	+0.078%	$27.4M	$30.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.280	−0.112%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.380	−0.006%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	94.120	−0.282%	$241K	$312K	75x
Phemex XBRUSDT	0.0000%	4h	94.450	+0.068%	$1.2M	$93K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0009%	1h	94.147	−0.254%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.914	+0.560%	—	—	—	as long as short
Vest BZ-PERP	+0.0017%	1h	98.040	+3.871%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	94.440	+0.057%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.464	+0.083%	$753K	$3.9M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.477%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	94.368	−0.020%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.480	+0.100%	$139.9M	$183.5M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	94.386	long leg	$1.5M	$495K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.320	−0.070%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.380	−0.006%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.290	−0.102%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0165% / S −0.0429%	1h	94.365	−0.022%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0504%	1h	94.280	−0.112%	$32K	—	20x	as long as short