Funding arb · Price arb /

ZAMA

all ZAMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni+0.144%7-day average −0.179% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.880%−$88 · spread now +0.144%, 7d avg −0.179%

Together, before fees−0.849%+ Points / potential airdropVariational Omni: Active · farm board−$85 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.322% dearer against Variational Omni than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZAMA	0.09429	0.0100	pay 0.0050% / 4h	3h 45m	$1.1M	$587K	—
Short	Bybit ZAMAUSDT	0.09443	0.0100	get 0.0050% / 4h	3h 45m	$8.3M	$22.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now +0.144%Rate

Funding earned: $0
Price spread: +0.144% → −0.179%: $32.25
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $21.25
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 3 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 RFQ quote, 3 min ago	6.04 bp	doesn't fit	230.1 bp −$2,301	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.07 bp	47.1 bp −$47	145.1 bp −$1,451	doesn't fit	doesn't fit

ZAMA 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
BloFin ZAMA-USDT	+0.0066%	4h	0.09354	−0.800%	$838K	$484K	50x	as long as short
Aster ZAMAUSDT	+0.0100%	4h	0.09448	+0.197%	$312K	$1.8M	20x	as long as short
Binance ZAMAUSDT	+0.0100%	4h	0.09447	+0.186%	$18.5M	$112.5M	50x	as long as short
Bybit ZAMAUSDTshort	+0.0100%	4h	0.09443	+0.144%	$8.3M	$22.5M	25x
OKX ZAMA-USDT-SWAP	+0.0100%	4h	0.09442	+0.133%	$5.2M	$80.6M	20x	as long as short
Gate ZAMA_USDT	+0.0100%	4h	0.09440	+0.112%	$960K	$5.4M	50x	as long as short
MEXC ZAMA_USDT	+0.0100%	4h	0.09423	−0.068%	$2.9M	$4.0M	50x	as long as short
KuCoin ZAMAUSDTM	+0.0100%	4h	0.09425	−0.047%	$888K	$1.2M	50x	as long as short
Bitget ZAMAUSDT	+0.0100%	4h	0.09447	+0.186%	$4.9M	$11.0M	20x	as long as short
BingX ZAMA-USDT	+0.0100%	4h	0.09445	+0.165%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZAMAlong	+0.0100%	4h	0.09429	long leg	$1.1M	$587K	—
SunX ZAMA-USDT	+0.0100%	4h	0.09434	+0.048%	—	$744K	20x	as long as short
edgeX ZAMAUSDC	+0.0103%	4h	0.09158	−2.876%	$6K	$455K	10x	as long as short