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: Polymarket Perps against SunX+0.019%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on SunX Short on Polymarket Perps

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)+0.118%+$12 · spread now +0.019%, 7d avg +0.069%

Together, before fees+0.549%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.049% cheaper against SunX than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.069%). If the spread goes back, that is −$5 on $10k: about 3.3 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.431% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.720	0	get 0.0000% / 4h	1h 16m	$4K	$2.4M	20x
Short	Polymarket Perps BRENTOIL-USD	97.739	0.0050	get 0.0006% / 1h	16m 35s	$1.6M	$463K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.019%Rate

Funding earned: $10.5
Price spread: +0.019% → +0.069%: −$4.93
Slippage, 4 orders: −$49.12
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$59.56
Costs to cover: 0.651%
Break-even: 46.7 days

Slippage from SunX: live order book, 11 min ago; Polymarket Perps: live order book, 2 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 SunX live order book, 11 min ago	18.91 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.10 bp	8.2 bp −$8	8.9 bp −$89	19.6 bp −$1,964	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	96.970	−0.767%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.700	−0.020%	$237K	$417K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0032%	1h	97.710	−0.010%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.710	−0.010%	$340K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.710	−0.010%	$147.8M	$350.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.690	−0.031%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.680	−0.041%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.665	−0.057%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.650	−0.072%	$9.3M	$11.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.720	0.000%	$27.9M	$17.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.718	−0.002%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.664	−0.057%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.720	long leg	$4K	$2.4M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.720	0.000%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.690	−0.031%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.760	+0.041%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	97.673	−0.049%	$225K	$228K	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.83	+4.206%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.278	+0.571%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.710	−0.010%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.666	−0.055%	$682K	$3.2M	10x	as long as short
BloFin BZ-USDT	+0.0048%	4h	97.760	+0.041%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.701	−0.020%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.719	−0.001%	$155.1M	$115.8M	20x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	97.739	+0.019%	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.660	−0.061%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0091%	1h	97.728	+0.008%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.690	−0.031%	$3.8M	$814K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.740	+0.020%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.714	−0.006%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.725	+0.005%	$116K	—	111x	as long as short