Funding arb · Price arb /

ZAMA

all ZAMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h —

Price spread now: Phemex against Bybit+0.043%53s7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1431.431% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.043% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	Bybit ZAMAUSDT	0.09364	0.0100	pay 0.0050% / 4h	2h 20m	$8.4M	$20.8M	25x
Short	Phemex ZAMAUSDT	0.09368	0.0100	get 0.0050% / 4h	2h 20m	$33K	$110K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0
Price spread: +0.043% → 0.000%: $4.27
Slippage, 4 orders: −$120.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$138.84
Costs to cover: 1.431%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, just now.

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 Bybit live order book, 1 min ago	1.61 bp	35.9 bp −$36	117.9 bp −$1,179	doesn't fit	doesn't fit
Sell Phemex live order book, just now	2.67 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit

ZAMA on 14 exchanges

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
Gate ZAMA_USDT	−0.0124%	4h	0.09361	−0.032%	$1.0M	$5.2M	50x	as long as short
BloFin ZAMA-USDT	+0.0098%	4h	0.09333	−0.331%	$824K	$469K	50x	as long as short
Aster ZAMAUSDT	+0.0100%	4h	0.09362	−0.021%	$309K	$1.7M	20x	as long as short
Binance ZAMAUSDT	+0.0100%	4h	0.09367	+0.033%	$18.7M	$104.5M	50x	as long as short
Bybit ZAMAUSDTlong	+0.0100%	4h	0.09364	long leg	$8.4M	$20.8M	25x
OKX ZAMA-USDT-SWAP	+0.0100%	4h	0.09360	−0.043%	$5.3M	$75.0M	20x	as long as short
MEXC ZAMA_USDT	+0.0100%	4h	0.09362	−0.021%	$3.0M	$3.8M	50x	as long as short
KuCoin ZAMAUSDTM	+0.0100%	4h	0.09364	0.000%	$895K	$1.1M	50x	as long as short
Bitget ZAMAUSDT	+0.0100%	4h	0.09365	+0.011%	$4.9M	$10.4M	20x	as long as short
BingX ZAMA-USDT	+0.0100%	4h	0.09364	0.000%	—	$2.2M	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZAMA	+0.0100%	4h	0.09334	−0.325%	$1.1M	$641K	—	as long as short
SunX ZAMA-USDT	+0.0100%	4h	0.09654	+3.097%	—	$739K	20x	as long as short
Phemex ZAMAUSDTshort	+0.0100%	4h	0.09368	+0.043%	$33K	$110K	20x
edgeX ZAMAUSDC	+0.0113%	4h	0.09356	−0.088%	$6K	$452K	10x	as long as short