Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0448%/8h= −49.0% APRpaid last 24h +0.035%

Price spread now: KuCoin against Polymarket Perps+0.033%49s7-day average −0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$743as 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−$6946.942% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.490%−$49 on $10k

Price spread, last 7 days−0.184%−$18 · spread now +0.033%, 7d avg −0.082%

Together, before fees−0.674%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.115% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.082%): +$11 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 21 hours. The two prices were read 49 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	91.080	0.0548	pay 0.0068% / 1h	18m 41s	$105K	$383K	10x
Short	KuCoin ZMUSDTM	91.110	0.0100	get 0.0100% / 8h	1h 18m	$63K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$93.98
Price spread: +0.033% → −0.082%: $11.5
Slippage, 4 orders: −$674.18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$776.66
Costs to cover: 6.942%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 54 min ago; KuCoin: live order book, 7 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, 54 min ago	2.74 bp	9.4 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.19 bp	338.2 bp −$338	doesn't fit	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	91.054	−0.028%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.038	−0.046%	$412K	$506K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.990	−0.099%	$95K	$33K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.930	−0.165%	$167K	$111K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.970	−0.121%	$248K	$134K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.000	−0.088%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	91.044	−0.039%	$12K	$22K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.050	−0.033%	$1K	$491K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.000	−0.088%	$6K	$36K	10x	as long as short
QFEX ZM-USD	+0.0067%	1h	91.050	−0.033%	$1.1M	$7.1M	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZMUSDTMshort	+0.0100%	8h	91.110	+0.033%	$63K	$1.5M	20x
tradeXYZ xyz:ZM	+0.0160%	1h	91.009	−0.078%	$523K	$76K	10x	as long as short
Polymarket Perps ZM-USDlong	+0.0548%	1h	91.080	long leg	$105K	$383K	10x