Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h −0.067%

Price spread now: Binance against tradeXYZ+0.092%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1341.340% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 2 days (all we have)+0.084%+$8 · spread now +0.092%, 7d avg +0.123%

Together, before fees+0.166%+ Points / potential airdroptradeXYZ: Active · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.031% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.092% now, against its 7-day average of +0.123%). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.082% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:ZM	90.906	−0.0085	get 0.0011% / 1h	44m 58s	$522K	$82K	10x
Short	Binance ZMUSDT	90.990	0	get 0.0000% / 8h	2h 44m	$412K	$515K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.092%Rate

Funding earned: $17.9
Price spread: +0.092% → +0.123%: −$3.06
Slippage, 4 orders: −$105.97
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$119.13
Costs to cover: 1.340%
Break-even: 53.6 days

Slippage from tradeXYZ: live order book, 31 min ago; Binance: live order book, 62 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 tradeXYZ live order book, 31 min ago	13.43 bp	39.4 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 62 min ago	1.65 bp	25.0 bp −$25	91.6 bp −$916	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
tradeXYZ xyz:ZMlong	−0.0085%	1h	90.906	long leg	$522K	$82K	10x
Aster ZMUSDT	0.0000%	8h	90.988	+0.090%	$7K	$598	20x	as long as short
Binance ZMUSDTshort	0.0000%	8h	90.990	+0.092%	$412K	$515K	20x
Bybit ZMUSDT	0.0000%	8h	90.900	−0.007%	$95K	$33K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.960	+0.059%	$167K	$118K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.890	−0.018%	$247K	$133K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.000	+0.103%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.984	+0.086%	$11K	$36K	—	as long as short
SunX ZM-USDT	0.0000%	8h	90.970	+0.070%	$1K	$494K	10x	as long as short
HTX ZM-USDT	0.0000%	8h	90.950	+0.048%	$6K	$35K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX ZM-USD	+0.0023%	1h	91.000	+0.103%	$1.1M	$6.5M	10x	as long as short
KuCoin ZMUSDTM	+0.0100%	8h	91.080	+0.191%	$71K	$1.5M	20x	as long as short
Polymarket Perps ZM-USD	+0.0126%	1h	91.040	+0.147%	$105K	$391K	10x	as long as short