Funding arb · Price arb /

ZM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0481%/8h= −52.7% APRpaid last 24h −0.061%

Price spread now: Aster against tradeXYZ+0.208%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.208% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.208% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:ZM	90.990	0.0481	pay 0.0060% / 1h	3m 00s	$523K	$68K	10x
Short	Aster ZMUSDT	91.179	0	get 0.0000% / 8h	3m 00s	$7K	$598	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.208%Rate

Funding earned: −$101.04
Price spread: +0.208% → 0.000%: $20.77
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$106.27
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 53 min ago; Aster: 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 tradeXYZ live order book, 53 min ago	10.49 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 ZMUSDTshort	0.0000%	8h	91.179	+0.208%	$7K	$598	20x
Binance ZMUSDT	0.0000%	8h	91.150	+0.176%	$412K	$492K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	91.150	+0.176%	$95K	$31K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	91.010	+0.022%	$167K	$110K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	91.030	+0.044%	$248K	$131K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.130	+0.154%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	91.118	+0.140%	$12K	$20K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.140	+0.165%	$1K	$490K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	91.110	+0.132%	$5K	$36K	10x	as long as short
QFEX ZM-USD	+0.0023%	1h	91.240	+0.275%	$1.1M	$7.6M	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	91.170	+0.198%	$63K	$1.5M	20x	as long as short
tradeXYZ xyz:ZMlong	+0.0481%	1h	90.990	long leg	$523K	$68K	10x
Polymarket Perps ZM-USD	+0.0591%	1h	91.150	+0.176%	$105K	$383K	10x	as long as short