Funding arb · Price arb /

ZM

RWAall ZM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h +0.076%

Price spread now: tradeXYZ against Variational Omni−0.089%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and tradeXYZ is 0.089% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZM	90.945	0	get 0.0000% / 8h	4h 55m	$11K	$52K	—
Short	tradeXYZ xyz:ZM	90.864	−0.0250	pay 0.0031% / 1h	55m 24s	$524K	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Variational Omni. 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 Variational OmnibpFee tradeXYZbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$52.57
Price spread: −0.089% → 0.000%: −$8.91
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$79.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; tradeXYZ: live order book, 41 min ago. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 41 min ago	14.09 bp	34.6 bp −$35	107.8 bp −$1,078	doesn't fit	doesn't fit

Variational Omni: 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
tradeXYZ xyz:ZMshort	−0.0250%	1h	90.864	−0.089%	$524K	$80K	10x
KuCoin ZMUSDTM	−0.0165%	8h	90.890	−0.060%	$90K	$1.5M	20x	as long as short
Aster ZMUSDT	0.0000%	8h	90.923	−0.025%	$7K	$598	20x	as long as short
Binance ZMUSDT	0.0000%	8h	90.988	+0.047%	$414K	$548K	20x	as long as short
Bybit ZMUSDT	0.0000%	8h	91.000	+0.060%	$95K	$34K	25x	as long as short
OKX ZM-USDT-SWAP	0.0000%	8h	90.860	−0.093%	$166K	$113K	20x	as long as short
Gate ZM_USDT	0.0000%	8h	90.850	−0.104%	$246K	$142K	20x	as long as short
Bitget ZMUSDT	0.0000%	8h	90.990	+0.049%	$200K	$73K	20x	as long as short
Variational Omni ZMlong	0.0000%	8h	90.945	long leg	$11K	$52K	—
SunX ZM-USDT	0.0000%	8h	90.950	+0.006%	$1K	$509K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ZM-USDT	0.0000%	8h	91.020	+0.082%	$6K	$36K	10x	as long as short
Polymarket Perps ZM-USD	+0.0050%	1h	90.990	+0.049%	$99K	$392K	10x	as long as short
QFEX ZM-USD	+0.0160%	1h	90.940	−0.005%	$1.1M	$5.4M	10x	as long as short