What is "Tivaresh"?
Rashi: You will become Rash (poor).
What is the connection of sleep and becoming poor?
R. Yonah: When one sleeps more than is necessary and proper, he ceases the work of his limbs.
Malbim: This is a Mashal. Gathering wealth requires diligence and Zerizus. One who loves sleep will become poor. One who closes his eyes to sleep will not be satiated with bread. Just like it is not good to sleep constantly and not use the physical ear and eye, for then he will become poor and his body will not be satiated with bread, so he must open his spiritual eyes. If he loves sleep of the Sechel, he will lose the property of the Sechel - Torah and Chachmah.
What is the significance of opening the eyes?
Malbim: "Pekach" does not refer to physical eyes, rather, to the eyes of Sechel. Metaphorical sleep applies also when one is awake and his physical eyes are open, if his spiritual Nefesh is sleeping, and slumber of physicality falls on it, and the eyes of Sechel are closed from looking at Elokim. This is connected to "Ozen Shoma'as v'Ayin Ro'ah" (12). If one opens the eyes of Sechel, his Nefesh will be satiated with its food, and it will live eternal, spiritual life.
Verse 12 mentioned the ear and eye. Why does our verse mention only the eye?
R. Yonah: Above "Ozen Shoma'as Tochachas Chayim" (15:31) already warned about the ear.