Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0436%/8h= −47.7% APRpaid last 24h −0.180%

Price spread now: SunX against Polymarket Perps−0.088%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$206as in the Funding arb table

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

costs, in and out, $10k−$1491.493% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.567%−$57 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.088%, 7d avg −0.026%

Together, before fees−0.405%−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and SunX is 0.062% 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 −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZM-USD	91.060	0.0436	pay 0.0054% / 1h	47m 39s	$99K	$392K	10x
Short	SunX ZM-USDT	90.980	0	get 0.0000% / 8h	3h 47m	$883	$505K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$91.49
Price spread: −0.088% → −0.026%: −$6.2
Slippage, 4 orders: −$133.3
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$246.99
Costs to cover: 1.493%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 35 min ago; SunX: live order book, 33 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, 35 min ago	2.74 bp	7.8 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell SunX live order book, 33 min ago	46.15 bp	68.4 bp −$68	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	90.972	−0.096%	$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	−0.176%	$95K	$34K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.940	−0.132%	$166K	$113K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.950	−0.121%	$247K	$138K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	90.940	−0.132%	$200K	$73K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.994	−0.072%	$11K	$51K	—	as long as short
SunX ZM-USDTshort	0.0000%	8h	90.980	−0.088%	$883	$505K	10x
HTX ZM-USDT	0.0000%	8h	91.020	−0.044%	$6K	$35K	10x	as long as short
tradeXYZ xyz:ZM	+0.0050%	1h	90.931	−0.142%	$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	91.060	0.000%	$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-USDlong	+0.0436%	1h	91.060	long leg	$99K	$392K	10x