Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SunX against Polymarket Perps−0.023%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.431%−$43 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.023%, 7d avg −0.069%

Together, before fees−0.561%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.047% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.069%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.431% in total) that is about 18 hours.

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	23m 56s	$1.6M	$463K	20x
Short	SunX BRENTOIL-USDT	97.650	0	get 0.0000% / 4h	2h 23m	$4K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$10.5
Price spread: −0.023% → −0.069%: $4.7
Slippage, 4 orders: −$46.74
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$68.54
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; SunX: 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, 5 min ago	2.15 bp	6.1 bp −$6	7.3 bp −$73	13.9 bp −$1,387	doesn't fit
Sell SunX live order book, 3 min ago	18.43 bp	26.3 bp −$26	35.0 bp −$350	doesn't fit	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	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	97.563	−0.112%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.550	−0.125%	$147.6M	$362.0M	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	97.560	−0.115%	$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-USDTshort	0.0000%	4h	97.650	−0.023%	$4K	$2.4M	20x
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	97.583	−0.091%	$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]	L +0.0319% / S −0.2574%	1h	97.605	−0.069%	$116K	—	111x	as long as short