Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against SunX−0.044%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$311as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$3113.110% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.044%, 7d avg −0.121%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.077% dearer against SunX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZM-USDT	90.990	0	get 0.0000% / 8h	1h 34m	$773	$489K	10x
Short	Gate ZM_USDT	90.950	0	get 0.0000% / 8h	1h 34m	$248K	$134K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.121%: $7.73
Slippage, 4 orders: −$288.04
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$303.32
Costs to cover: 3.110%
Break-even: never at this rate

Slippage from SunX: live order book, 26 min ago; Gate: live order book, 2 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 SunX live order book, 26 min ago	46.13 bp	64.3 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	15.40 bp	76.3 bp −$76	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	91.045	+0.060%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.035	+0.050%	$412K	$502K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.970	−0.022%	$95K	$33K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.930	−0.066%	$167K	$111K	20x	as long as short
Gate ZM_USDTshort	0.0000%	8h	90.950	−0.044%	$248K	$134K	20x
Bitget ZMUSDT	0.0000%	8h	91.000	+0.011%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.994	+0.004%	$11K	$21K	—	as long as short
SunX ZM-USDTlong	0.0000%	8h	90.990	long leg	$773	$489K	10x
HTX ZM-USDT	0.0000%	8h	91.140	+0.165%	$6K	$36K	10x	as long as short
QFEX ZM-USD	+0.0067%	1h	91.000	+0.011%	$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	+0.0077%	1h	90.968	−0.024%	$523K	$76K	10x	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.070	+0.088%	$63K	$1.5M	20x	as long as short
Polymarket Perps ZM-USD	+0.0492%	1h	91.070	+0.088%	$105K	$383K	10x	as long as short