Any heart rate monitor that is ANT+ compatible will automatically sync with the Peloton bike. As long as your heart rate monitor is on, you will see the metric for your heart rate appear on the lower right hand of your screen. You do not need to go into Bluetooth and manually pair your heart rate monitor- your heart rate monitor will pair automatically via ANT+.
The leads on the chest strap should be slightly wet in order to pick up your heart rate. You can dip your finger in water and gently wet each lead before putting it on; or just put it on after you've already worked up a sweat.
If you have any trouble with your heart rate monitor, please you can contact our Support team here.