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 Variational Omni+0.449%7-day average +0.102% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni 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)−0.347%−$35 · spread now +0.449%, 7d avg +0.102%

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.347% dearer against Variational Omni than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZAMA	0.09342	0.0100	pay 0.0050% / 4h	52m 26s	$1.2M	$629K	—
Short	Phemex ZAMAUSDT	0.09384	0.0100	get 0.0050% / 4h	52m 26s	$165K	$362K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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 Variational OmnibpFee PhemexbpOrdersPrice spread, now +0.449%Rate

Funding earned: $0
Price spread: +0.449% → +0.102%: $34.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $22.71
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phemex: live order book, 23 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 5 min ago	6.41 bp	doesn't fit	219.1 bp −$2,191	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_USDT	+0.0080%	4h	0.09370	+0.299%	$1.1M	$4.7M	50x	as long as short
Aster ZAMAUSDT	+0.0100%	4h	0.09372	+0.316%	$312K	$1.5M	20x	as long as short
Binance ZAMAUSDT	+0.0100%	4h	0.09370	+0.299%	$18.8M	$91.3M	50x	as long as short
Bybit ZAMAUSDT	+0.0100%	4h	0.09369	+0.289%	$8.6M	$18.1M	25x	as long as short
OKX ZAMA-USDT-SWAP	+0.0100%	4h	0.09363	+0.225%	$5.4M	$65.3M	20x	as long as short
MEXC ZAMA_USDT	+0.0100%	4h	0.09369	+0.289%	$3.1M	$3.1M	50x	as long as short
KuCoin ZAMAUSDTM	+0.0100%	4h	0.09371	+0.310%	$905K	$974K	50x	as long as short
Bitget ZAMAUSDT	+0.0100%	4h	0.09371	+0.310%	$4.9M	$8.2M	20x	as long as short
BingX ZAMA-USDT	+0.0100%	4h	0.09368	+0.278%	—	$2.2M	—	as long as short
Variational Omni ZAMAlong	+0.0100%	4h	0.09342	long leg	$1.2M	$629K	—

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	+3.500%	—	$716K	20x	as long as short
Phemex ZAMAUSDTshort	+0.0100%	4h	0.09384	+0.449%	$165K	$362K	20x
edgeX ZAMAUSDC	+0.0100%	4h	0.09342	0.000%	$6K	$451K	10x	as long as short
BloFin ZAMA-USDT	+0.0150%	4h	0.09347	+0.053%	$832K	$443K	50x	as long as short