Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.168%

Price spread now: Polymarket Perps against SunX−0.121%50s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as 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−$1581.583% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.604%+$60 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.121%, 7d avg +0.026%

Together, before fees+0.567%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.147% cheaper against SunX than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of +0.026%). If the spread goes back, that is −$15 on $10k: about 9.8 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.604% in total) that is about 41 hours. The two prices were read 50 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	SunX ZM-USDT	91.200	0	get 0.0000% / 8h	7h 01m	$1K	$503K	10x
Short	Polymarket Perps ZM-USD	91.090	0.0050	get 0.0006% / 1h	1m 31s	$105K	$381K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.121%Rate

Funding earned: $10.5
Price spread: −0.121% → +0.026%: −$14.67
Slippage, 4 orders: −$142.31
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$162.48
Costs to cover: 1.583%
Break-even: 115.3 days

Slippage from SunX: live order book, 40 min ago; Polymarket Perps: live order book, 61 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, 40 min ago	48.82 bp	73.2 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 61 min ago	1.65 bp	7.8 bp −$8	12.1 bp −$121	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-USD	−0.0080%	1h	91.210	+0.011%	$1.1M	$7.9M	10x	as long as short
Aster ZMUSDT	0.0000%	8h	91.161	−0.042%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	91.190	−0.011%	$410K	$483K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	91.170	−0.033%	$95K	$30K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.940	−0.285%	$166K	$108K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	91.100	−0.110%	$248K	$130K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.190	−0.011%	$201K	$63K	20x	as long as short
Variational Omni ZM	0.0000%	8h	91.170	−0.033%	$12K	$20K	—	as long as short
SunX ZM-USDTlong	0.0000%	8h	91.200	long leg	$1K	$503K	10x
HTX ZM-USDT	0.0000%	8h	91.290	+0.099%	$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-USDshort	+0.0050%	1h	91.090	−0.121%	$105K	$381K	10x
KuCoin ZMUSDTM	+0.0100%	8h	91.040	−0.175%	$59K	$1.5M	20x	as long as short
tradeXYZ xyz:ZM	+0.0718%	1h	91.093	−0.117%	$556K	$85K	10x	as long as short