Funding arb · Price arb /

ZAMA

all ZAMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.25 per $10,000 · paid last 24h —

Price spread now: BloFin against Phemex−0.616%7-day average −0.155% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1171.168% of the position

Long on Phemex Short on BloFin

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)+0.460%+$46 · spread now −0.616%, 7d avg −0.155%

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.460% cheaper against Phemex than usual: you would sell low and buy high (spread −0.616% now, against its 7-day average of −0.155%). If the spread goes back, that is −$46 on $10k: about 31 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	Phemex ZAMAUSDT	0.09097	0.0100	pay 0.0050% / 4h	1h 28m	$94K	$233K	20x
Short	BloFin ZAMA-USDT	0.09041	0.0150	get 0.0075% / 4h	1h 28m	$814K	$433K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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 PhemexbpFee BloFinbpOrdersPrice spread, now −0.616%Rate

Funding earned: $10.5
Price spread: −0.616% → −0.155%: −$46.04
Slippage, 4 orders: −$92.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$152.33
Costs to cover: 1.168%
Break-even: 108.6 days

Slippage from Phemex: live order book, 52 min ago; BloFin: live order book, 16 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 Phemex live order book, 52 min ago	2.67 bp	39.1 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 16 min ago	8.15 bp	21.4 bp −$21	43.6 bp −$436	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	+0.0098%	4h	0.09088	−0.099%	$987K	$4.9M	50x	as long as short
Aster ZAMAUSDT	+0.0100%	4h	0.09084	−0.138%	$300K	$1.5M	20x	as long as short
Binance ZAMAUSDT	+0.0100%	4h	0.09092	−0.060%	$18.3M	$93.8M	50x	as long as short
Bybit ZAMAUSDT	+0.0100%	4h	0.09094	−0.033%	$8.2M	$18.6M	25x	as long as short
OKX ZAMA-USDT-SWAP	+0.0100%	4h	0.09094	−0.033%	$5.2M	$65.3M	20x	as long as short
MEXC ZAMA_USDT	+0.0100%	4h	0.09093	−0.044%	$2.9M	$3.4M	50x	as long as short
KuCoin ZAMAUSDTM	+0.0100%	4h	0.09089	−0.088%	$872K	$994K	50x	as long as short
Bitget ZAMAUSDT	+0.0100%	4h	0.09095	−0.022%	$4.7M	$9.0M	20x	as long as short
BingX ZAMA-USDT	+0.0100%	4h	0.09094	−0.033%	—	$2.2M	—	as long as short
Variational Omni ZAMA	+0.0100%	4h	0.09067	−0.326%	$1.1M	$639K	—	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	0.09396	+3.287%	—	$717K	20x	as long as short
Phemex ZAMAUSDTlong	+0.0100%	4h	0.09097	long leg	$94K	$233K	20x
edgeX ZAMAUSDC	+0.0104%	4h	0.09058	−0.429%	$6K	$454K	10x	as long as short
BloFin ZAMA-USDTshort	+0.0150%	4h	0.09041	−0.616%	$814K	$433K	50x