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: Gate against OKX+0.022%7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$338as in the Funding arb table

Net, price: spread back to 7d avg − costs−$327as in the Price arb table

costs, in and out, $10k−$3363.362% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.022%, 7d avg −0.073%

Together, before fees+0.003%$0 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: Gate is 0.095% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZM-USDT-SWAP	91.490	0	get 0.0000% / 8h	4h 08m	$167K	$107K	20x
Short	Gate ZM_USDT	91.510	0	get 0.0000% / 8h	4h 08m	$250K	$128K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → −0.073%: $9.49
Slippage, 4 orders: −$311.24
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$326.75
Costs to cover: 3.362%
Break-even: never at this rate

Slippage from OKX: live order book, 29 min ago; Gate: live order book, 26 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, 29 min ago	6.55 bp	73.1 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 26 min ago	12.01 bp	80.7 bp −$81	doesn't fit	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	91.523	+0.037%	$7K	$598	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	91.580	+0.098%	$94K	$31K	25x	as long as short
OKX ZM-USDT-SWAPlong	0.0000%	8h	91.490	long leg	$167K	$107K	20x
Gate ZM_USDTshort	0.0000%	8h	91.510	+0.022%	$250K	$128K	20x
Bitget ZMUSDT	0.0000%	8h	91.630	+0.153%	$203K	$64K	20x	as long as short
SunX ZM-USDT	0.0000%	8h	91.670	+0.197%	$2K	$526K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.760	+0.295%	$6K	$37K	10x	as long as short
QFEX ZM-USD	+0.0040%	1h	91.630	+0.153%	$1.1M	$8.8M	10x	as long as short
Variational Omni ZM	+0.0046%	8h	91.649	+0.174%	$13K	$21K	—	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.470	−0.022%	$62K	$1.5M	20x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ZM	+0.0106%	1h	91.593	+0.113%	$613K	$121K	10x	as long as short
Binance ZMUSDT	+0.0148%	8h	91.683	+0.211%	$410K	$506K	20x	as long as short
Polymarket Perps ZM-USD	+0.0473%	1h	91.730	+0.262%	$105K	$378K	10x	as long as short