ZM

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0130%/8h= −14.2% APRnext payment −$0.16 per $10,000 · paid last 24h −0.148%

Price spread now: QFEX against Polymarket Perps+0.264%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$1881.883% of the position

Long on Polymarket Perps Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.452%−$45 on $10k

Price spread, last 7 days−0.340%−$34 · spread now +0.264%, 7d avg −0.023%

Together, before fees−0.792%−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.287% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.264% now, against its 7-day average of −0.023%): +$29 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 4 days (−0.452% in total) that is about 2.4 days.

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	43m 52s	$105K	$383K	10x
Short	QFEX ZM-USD	91.200	−0.0080	pay 0.0010% / 1h	43m 52s	$1.1M	$7.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.264%Rate

Funding earned: −$27.3
Price spread: +0.264% → −0.023%: $28.67
Slippage, 4 orders: −$170.27
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$186.91
Costs to cover: 1.883%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 19 min ago; QFEX: live order book, 5 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, 19 min ago	1.65 bp	9.6 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	77.43 bp	85.0 bp −$85	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
QFEX ZM-USDshort	−0.0080%	1h	91.200	+0.264%	$1.1M	$7.7M	10x
Aster ZMUSDT	0.0000%	8h	91.166	+0.226%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.132	+0.189%	$411K	$492K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	91.150	+0.209%	$95K	$30K	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	91.050	+0.099%	$248K	$127K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.080	+0.132%	$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	91.090	+0.143%	$61K	$1.5M	20x	as long as short
tradeXYZ xyz:ZM	+0.0769%	1h	91.011	+0.056%	$555K	$88K	10x	as long as short