Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0438%/8h= +47.9% APRpaid last 24h +0.180%

Price spread now: Polymarket Perps against OKX+0.132%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1641.641% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)−0.213%−$21 · spread now +0.132%, 7d avg +0.050%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Polymarket Perps is 0.082% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZM-USDT-SWAP	90.940	0	get 0.0000% / 8h	3h 48m	$166K	$113K	20x
Short	Polymarket Perps ZM-USD	91.060	0.0438	get 0.0055% / 1h	48m 49s	$99K	$392K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.132%Rate

Funding earned: $91.88
Price spread: +0.132% → +0.050%: $8.15
Slippage, 4 orders: −$146.09
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$64.06
Costs to cover: 1.641%
Break-even: 11.9 days

Slippage from OKX: live order book, 1 min ago; Polymarket Perps: live order book, 34 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, 1 min ago	10.43 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 34 min ago	2.74 bp	8.9 bp −$9	13.2 bp −$132	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	+0.039%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.000	+0.066%	$414K	$538K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.900	−0.044%	$95K	$34K	25x	as long as short
OKX ZM-USDT-SWAPlong	0.0000%	8h	90.940	long leg	$166K	$113K	20x
Gate ZM_USDT	0.0000%	8h	90.950	+0.011%	$247K	$138K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.000	+0.066%	$200K	$73K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.994	+0.059%	$11K	$51K	—	as long as short
SunX ZM-USDT	0.0000%	8h	90.980	+0.044%	$883	$505K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.070	+0.143%	$6K	$35K	10x	as long as short
tradeXYZ xyz:ZM	+0.0050%	1h	90.930	−0.011%	$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	+0.099%	$84K	$1.5M	20x	as long as short
QFEX ZM-USD	+0.0160%	1h	91.000	+0.066%	$1.1M	$6.0M	10x	as long as short
Polymarket Perps ZM-USDshort	+0.0438%	1h	91.060	+0.132%	$99K	$392K	10x