Byzarium is “a webzine dedicated to fantasy, sci-fi and horror fiction.” Their current issue, September 2007, contains three pieces of fiction: “Junction Number 24” by Euan Harvey, “Flames of the Butterfly” by Gloria Almirall, and “Achilles in Purple” by Melinda Selmys.
They’ve just started taking entries for their “Annual Byzarium Bad-Fic Contest.” They’re looking for “the most clichéd, stereotyped, all around bad speculative fiction you have to offer! Please don’t go over 1500 words and make sure your Subject line reads “TITLE/LAST NAME/Bad-Fic” so we don’t think you’re a real bad writer!” See their standard formatting instructions for guidelines and submission address. Their normal pay rates ($5 for 500-1500 words; $10 for 1500-5000 words) apply, and the deadline is 30 November 2007. They add “we want to see some bad fiction, but make sure your grammar and spelling are correct!”
They also have a monthly “flash” fiction contest, based on an illustration on the site.