Funding arb · Price arb /

ZAMA

all ZAMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.10 per $10,000 · paid last 24h —

Price spread now: Phemex against Gate+0.149%7-day average +0.203% · 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−$206as in the Price arb table

costs, in and out, $10k−$2002.003% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)+0.054%+$5 · spread now +0.149%, 7d avg +0.203%

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.054% cheaper against Gate than usual: you would sell low and buy high (spread +0.149% now, against its 7-day average of +0.203%). If the spread goes back, that is −$5 on $10k: about 9.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZAMA_USDT	0.09370	0.0080	pay 0.0040% / 4h	52m 27s	$1.1M	$4.7M	50x
Short	Phemex ZAMAUSDT	0.09384	0.0100	get 0.0050% / 4h	52m 27s	$165K	$362K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee PhemexbpOrdersPrice spread, now +0.149%Rate

Funding earned: $4.2
Price spread: +0.149% → +0.203%: −$5.4
Slippage, 4 orders: −$173.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$201.49
Costs to cover: 2.003%
Break-even: 342.8 days

Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 23 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 Gate live order book, 4 min ago	4.82 bp	51.4 bp −$51	193.1 bp −$1,931	doesn't fit	doesn't fit
Sell Phemex live order book, 23 min ago	15.54 bp	46.5 bp −$47	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_USDTlong	+0.0080%	4h	0.09370	long leg	$1.1M	$4.7M	50x
Aster ZAMAUSDT	+0.0100%	4h	0.09372	+0.017%	$312K	$1.5M	20x	as long as short
Binance ZAMAUSDT	+0.0100%	4h	0.09370	0.000%	$18.8M	$91.3M	50x	as long as short
Bybit ZAMAUSDT	+0.0100%	4h	0.09369	−0.011%	$8.6M	$18.1M	25x	as long as short
OKX ZAMA-USDT-SWAP	+0.0100%	4h	0.09363	−0.075%	$5.4M	$65.3M	20x	as long as short
MEXC ZAMA_USDT	+0.0100%	4h	0.09369	−0.011%	$3.1M	$3.1M	50x	as long as short
KuCoin ZAMAUSDTM	+0.0100%	4h	0.09371	+0.011%	$905K	$974K	50x	as long as short
Bitget ZAMAUSDT	+0.0100%	4h	0.09371	+0.011%	$4.9M	$8.2M	20x	as long as short
BingX ZAMA-USDT	+0.0100%	4h	0.09368	−0.021%	—	$2.2M	—	as long as short
Variational Omni ZAMA	+0.0100%	4h	0.09342	−0.299%	$1.2M	$629K	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX ZAMA-USDT	+0.0100%	4h	0.09669	+3.191%	—	$716K	20x	as long as short
Phemex ZAMAUSDTshort	+0.0100%	4h	0.09384	+0.149%	$165K	$362K	20x
edgeX ZAMAUSDC	+0.0100%	4h	0.09342	−0.298%	$6K	$451K	10x	as long as short
BloFin ZAMA-USDT	+0.0150%	4h	0.09347	−0.245%	$832K	$443K	50x	as long as short