Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.168%

Price spread now: Binance against Polymarket Perps+0.264%56s7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.641% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.523%−$52 on $10k

Price spread, last 2 days (all we have)−0.452%−$45 · spread now +0.264%, 7d avg −0.055%

Together, before fees−0.974%−$97 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.319% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.264% now, against its 7-day average of −0.055%): +$32 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 7 days (−0.523% in total) that is about 4.3 days. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZM-USD	90.960	0.0050	pay 0.0006% / 1h	44m 37s	$105K	$383K	10x
Short	Binance ZMUSDT	91.200	0	get 0.0000% / 8h	7h 44m	$411K	$492K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.264%Rate

Funding earned: −$10.5
Price spread: +0.264% → −0.055%: $31.88
Slippage, 4 orders: −$46.1
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$42.72
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 18 min ago; Binance: live order book, 17 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 Polymarket Perps live order book, 18 min ago	1.65 bp	9.6 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell Binance live order book, 17 min ago	1.10 bp	23.5 bp −$24	91.3 bp −$913	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
QFEX ZM-USD	−0.0080%	1h	91.200	+0.264%	$1.1M	$7.7M	10x	as long as short
Aster ZMUSDT	0.0000%	8h	91.176	+0.237%	$7K	$598	20x	as long as short
Binance ZMUSDTshort	0.0000%	8h	91.200	+0.264%	$411K	$492K	20x
Bybit ZMUSDT	0.0000%	8h	91.170	+0.231%	$95K	$31K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	91.020	+0.066%	$167K	$108K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	91.110	+0.165%	$248K	$127K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.090	+0.143%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	91.190	+0.253%	$12K	$20K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.230	+0.297%	$1K	$497K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.320	+0.396%	$6K	$36K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps ZM-USDlong	+0.0050%	1h	90.960	long leg	$105K	$383K	10x
KuCoin ZMUSDTM	+0.0100%	8h	91.120	+0.176%	$61K	$1.5M	20x	as long as short
tradeXYZ xyz:ZM	+0.0768%	1h	91.071	+0.122%	$555K	$88K	10x	as long as short