Funding arb · Price arb /

ZM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Binance−0.066%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$207as in the Funding arb table

Net, price: spread back to 7d avg − costs−$204as in the Price arb table

costs, in and out, $10k−$2001.998% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 2 days (all we have)+0.002%$0 · spread now −0.066%, 7d avg −0.024%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.042% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZMUSDT	91.000	0	get 0.0000% / 8h	3h 48m	$414K	$538K	20x
Short	OKX ZM-USDT-SWAP	90.940	0	get 0.0000% / 8h	3h 48m	$166K	$113K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.024%: −$4.19
Slippage, 4 orders: −$179.84
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$204.04
Costs to cover: 1.998%
Break-even: never at this rate

Slippage from Binance: live order book, 73 min ago; OKX: live order book, 1 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 Binance live order book, 73 min ago	1.65 bp	26.4 bp −$26	142.2 bp −$1,422	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	10.43 bp	92.2 bp −$92	doesn't fit	doesn't fit	doesn't fit

ZM on 13 venues

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
Aster ZMUSDT	0.0000%	8h	90.975	−0.027%	$7K	$598	20x	as long as short
Binance ZMUSDTlong	0.0000%	8h	91.000	long leg	$414K	$538K	20x
Bybit ZMUSDT	0.0000%	8h	90.900	−0.110%	$95K	$34K	25x	as long as short
OKX ZM-USDT-SWAPshort	0.0000%	8h	90.940	−0.066%	$166K	$113K	20x
Gate ZM_USDT	0.0000%	8h	90.950	−0.055%	$247K	$138K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.000	0.000%	$200K	$73K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.994	−0.007%	$11K	$51K	—	as long as short
SunX ZM-USDT	0.0000%	8h	90.980	−0.022%	$883	$505K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.070	+0.077%	$6K	$35K	10x	as long as short
tradeXYZ xyz:ZM	+0.0050%	1h	90.930	−0.077%	$523K	$81K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZMUSDTM	+0.0100%	8h	91.030	+0.033%	$84K	$1.5M	20x	as long as short
QFEX ZM-USD	+0.0160%	1h	91.000	0.000%	$1.1M	$6.0M	10x	as long as short
Polymarket Perps ZM-USD	+0.0438%	1h	91.060	+0.066%	$99K	$392K	10x	as long as short