Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0501%/8h= −54.9% APRpaid last 24h −0.155%

Price spread now: Variational Omni against Polymarket Perps−0.094%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Variational Omni is 0.094% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZM-USD	91.080	0.0501	pay 0.0063% / 1h	31m 46s	$105K	$383K	10x
Short	Variational Omni ZM	90.994	0	get 0.0000% / 8h	1h 31m	$11K	$21K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.094%Rate

Funding earned: −$105.2
Price spread: −0.094% → 0.000%: −$9.43
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$122.64
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 41 min ago; Variational Omni: no order-book sample. Net counts fees only.

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, 41 min ago	2.74 bp	9.4 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	91.010	−0.077%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.010	−0.077%	$412K	$503K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.960	−0.132%	$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 ZMshort	0.0000%	8h	90.994	−0.094%	$11K	$21K	—
SunX ZM-USDT	0.0000%	8h	91.040	−0.044%	$961	$489K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	90.960	−0.132%	$6K	$36K	10x	as long as short
QFEX ZM-USD	+0.0067%	1h	91.020	−0.066%	$1.1M	$7.0M	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ZM	+0.0084%	1h	90.968	−0.123%	$523K	$76K	10x	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.080	0.000%	$64K	$1.5M	20x	as long as short
Polymarket Perps ZM-USDlong	+0.0501%	1h	91.080	long leg	$105K	$383K	10x