Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against OKX+0.109%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1781.783% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 2 days (all we have)−0.030%−$3 · spread now +0.109%, 7d avg +0.028%

Together, before fees+0.035%+$3 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: Binance is 0.082% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZM-USDT-SWAP	91.400	0	get 0.0000% / 8h	6h 17m	$167K	$108K	20x
Short	Binance ZMUSDT	91.500	0	get 0.0000% / 8h	6h 17m	$410K	$494K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.109%Rate

Funding earned: $0
Price spread: +0.109% → +0.028%: $8.16
Slippage, 4 orders: −$158.31
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$170.15
Costs to cover: 1.783%
Break-even: never at this rate

Slippage from OKX: live order book, 30 min ago; Binance: live order book, 22 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 OKX live order book, 30 min ago	6.58 bp	51.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 22 min ago	1.10 bp	18.6 bp −$19	82.1 bp −$821	doesn't fit	doesn't fit

ZM on 13 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
Aster ZMUSDT	0.0000%	8h	91.403	+0.003%	$7K	$598	20x	as long as short
Binance ZMUSDTshort	0.0000%	8h	91.500	+0.109%	$410K	$494K	20x
Bybit ZMUSDT	0.0000%	8h	91.380	−0.022%	$95K	$30K	25x	as long as short
OKX ZM-USDT-SWAPlong	0.0000%	8h	91.400	long leg	$167K	$108K	20x
Gate ZM_USDT	0.0000%	8h	91.370	−0.033%	$248K	$129K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.480	+0.088%	$202K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	91.461	+0.067%	$12K	$20K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.470	+0.077%	$944	$514K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.470	+0.077%	$6K	$36K	10x	as long as short
QFEX ZM-USD	+0.0067%	1h	91.400	0.000%	$1.1M	$8.1M	10x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps ZM-USD	+0.0082%	1h	91.110	−0.317%	$105K	$381K	10x	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.310	−0.098%	$59K	$1.5M	20x	as long as short
tradeXYZ xyz:ZM	+0.1092%	1h	91.262	−0.151%	$612K	$119K	10x	as long as short