Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0088%/8h= +9.7% APRpaid last 24h −0.067%

Price spread now: SunX against tradeXYZ+0.070%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2462.455% of the position

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.070%, 7d avg +0.099%

Together, before fees+0.011%+ Points / potential airdroptradeXYZ: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.029% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.070% now, against its 7-day average of +0.099%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:ZM	90.906	−0.0088	get 0.0011% / 1h	45m 45s	$522K	$82K	10x
Short	SunX ZM-USDT	90.970	0	get 0.0000% / 8h	2h 45m	$1K	$494K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.070%Rate

Funding earned: $18.54
Price spread: +0.070% → +0.099%: −$2.87
Slippage, 4 orders: −$219.55
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$229.87
Costs to cover: 2.455%
Break-even: 93.8 days

Slippage from tradeXYZ: live order book, 31 min ago; SunX: live order book, 25 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 SunX live order book, 25 min ago	46.76 bp	83.0 bp −$83	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
tradeXYZ xyz:ZMlong	−0.0088%	1h	90.906	long leg	$522K	$82K	10x
Aster ZMUSDT	0.0000%	8h	90.984	+0.086%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	90.990	+0.092%	$412K	$515K	20x	as long as short
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	90.970	+0.070%	$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-USDTshort	0.0000%	8h	90.970	+0.070%	$1K	$494K	10x
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	$6.4M	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	+0.0107%	1h	91.030	+0.136%	$105K	$391K	10x	as long as short