Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0242%/8h= −26.4% APRpaid last 24h −0.167%

Price spread now: Bitget against Polymarket Perps−0.077%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$1961.956% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.574%−$57 on $10k

Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.077%, 7d avg −0.017%

Together, before fees−0.325%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.060% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZM-USD	91.070	0.0242	pay 0.0030% / 1h	15m 48s	$105K	$391K	10x
Short	Bitget ZMUSDT	91.000	0	get 0.0000% / 8h	2h 15m	$200K	$64K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$50.72
Price spread: −0.077% → −0.017%: −$6
Slippage, 4 orders: −$175.65
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$252.37
Costs to cover: 1.956%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 62 min ago; Bitget: live order book, 24 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, 62 min ago	3.30 bp	9.7 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell Bitget live order book, 24 min ago	12.65 bp	126.2 bp −$126	160.8 bp −$1,608	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
tradeXYZ xyz:ZM	−0.0059%	1h	90.906	−0.180%	$522K	$82K	10x	as long as short
Aster ZMUSDT	0.0000%	8h	91.002	−0.075%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.036	−0.038%	$413K	$518K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.790	−0.307%	$95K	$33K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.820	−0.275%	$167K	$118K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.980	−0.099%	$249K	$136K	20x	as long as short
Bitget ZMUSDTshort	0.0000%	8h	91.000	−0.077%	$200K	$64K	20x
Variational Omni ZM	0.0000%	8h	91.020	−0.055%	$11K	$36K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.020	−0.055%	$1K	$495K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	90.950	−0.132%	$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
QFEX ZM-USD	+0.0023%	1h	90.900	−0.187%	$1.1M	$6.6M	10x	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.100	+0.033%	$71K	$1.5M	20x	as long as short
Polymarket Perps ZM-USDlong	+0.0242%	1h	91.070	long leg	$105K	$391K	10x