If you look closely at the inside teeth of your zipper, you will see an area of about 1/16th of an inch on either side of the teeth that is smooth. That is the sealing area. When you pull the slider, it connects those inside teeth and jams the sealing surfaces together tightly.
Simple really!
WARNING!!! Leaving your zipper closed when not on your body can cause irreparable damage!
First off, but leaving it closed, those thin sealing surfaces will develop a memory over time and start to lose it's elasticity. That means it will slowly lose it's ability to lock out water.
Next, when the zipper is open, the material is very flexible. But when closed, it is very stiff and can be easily bent or broken.
Hope that helps!