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−0.107%50s7-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+0.033%+$3 · spread now −0.107%, 7d avg −0.191%

Together, before fees−0.296%+ Points / potential airdropOndo Perps: Active · farm board−$30 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 0.084% dearer against Polymarket Perps than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.191%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.084	0.0050	pay 0.0006% / 1h	51m 39s	$1.5M	$446K	20x
Short	Ondo Perps BRENT-USD.P	96.980	0.0050	get 0.0006% / 1h	51m 39s	$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 −0.107%Rate

Funding earned: $0.08
Price spread: −0.107% → −0.191%: $8.42
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: −$4.5
Costs to cover: 0.130%
Break-even: 381.7 days

Slippage unknown: Polymarket Perps: live order book, 2 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, 2 min ago	1.65 bp	5.6 bp −$6	7.7 bp −$77	20.5 bp −$2,053	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	−0.903%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.282%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.021	−0.065%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.052	−0.033%	$146.7M	$375.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.020	−0.066%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.050	−0.035%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.963	−0.124%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.920	−0.169%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.970	−0.117%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.050	−0.035%	$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	96.939	−0.149%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.949	−0.139%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.980	−0.107%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.020	−0.066%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−0.097%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.010	−0.076%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.547	+0.477%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.922	−0.167%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.050	−0.035%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.028	−0.058%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.05	+4.085%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.046	−0.039%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.062	−0.023%	$152.1M	$125.6M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.084	long leg	$1.5M	$446K	20x
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	96.980	−0.107%	$3.1M	$1.1M	15x
KuCoin BZUSDTM	+0.0100%	4h	97.100	+0.016%	$3.8M	$876K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.950	−0.138%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0063%	1h	97.015	−0.071%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0203%	1h	96.932	−0.156%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.019	−0.067%	$84K	$218K	20x	as long as short