Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0501%/8h= −54.8% APRpaid last 24h −0.059%

Price spread now: HTX against tradeXYZ+0.031%49s7-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 HTX

What this pair did over the last

the charts below follow

Funding, last 5 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 · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.031% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 49 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	tradeXYZ xyz:ZM	91.012	0.0501	pay 0.0063% / 1h	57m 24s	$523K	$76K	10x
Short	HTX ZM-USDT	91.040	0	get 0.0000% / 8h	57m 24s	$5K	$36K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$105.11
Price spread: +0.031% → 0.000%: $3.08
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$132.04
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 69 min ago; HTX: 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, 69 min ago	7.48 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	90.966	−0.050%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	90.991	−0.023%	$411K	$505K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	90.930	−0.090%	$95K	$32K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	91.010	−0.002%	$167K	$111K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.970	−0.046%	$248K	$129K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	91.000	−0.013%	$200K	$64K	20x	as long as short
Variational Omni ZM	0.0000%	8h	90.994	−0.020%	$12K	$22K	—	as long as short
SunX ZM-USDT	0.0000%	8h	91.010	−0.002%	$1K	$492K	10x	as long as short
HTX ZM-USDTshort	0.0000%	8h	91.040	+0.031%	$5K	$36K	10x
QFEX ZM-USD	+0.0023%	1h	91.090	+0.086%	$1.1M	$7.2M	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	90.970	−0.046%	$63K	$1.5M	20x	as long as short
tradeXYZ xyz:ZMlong	+0.0501%	1h	91.012	long leg	$523K	$76K	10x
Polymarket Perps ZM-USD	+0.0542%	1h	91.090	+0.086%	$105K	$383K	10x	as long as short