Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0317%/8h= −34.7% APRpaid last 24h −0.018%

Price spread now: Bitget against Aevo+0.110%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Bitget is 0.110% dearer against Aevo than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TSM-PERP	439.55	0.0104	pay 0.0013% / 1h	36m 02s	$123	—	10x
Short	Bitget TSMUSDT	440.03	−0.0213	pay 0.0213% / 8h	1h 36m	$1.7M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$66.57
Price spread: +0.110% → 0.000%: $10.97
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$83.6
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bitget: live order book, 1 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 Aevo no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	7.84 bp	17.0 bp −$17	25.6 bp −$256	52.2 bp −$5,224	doesn't fit

Aevo: 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.

TSM on 28 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
edgeX TSMUSDC	−0.0885%	4h	439.63	+0.019%	$47K	$216K	10x	as long as short
Bitget TSMUSDTshort	−0.0213%	8h	440.03	+0.110%	$1.7M	$1.5M	20x
Aster TSMUSDT	0.0000%	8h	439.32	−0.053%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.34	−0.047%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.46	−0.020%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.44	−0.025%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.56	+0.002%	$556K	$36K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.65	+0.023%	$2K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.64	+0.021%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.71	+0.264%	$1.5M	$514K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	439.54	−0.002%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.33	−0.050%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.24	−0.070%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.050%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	438.90	−0.147%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.37	−0.040%	$192K	$64K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.19	−0.081%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.57	+0.005%	$157K	$27K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	439.53	−0.004%	$3K	$176K	10x	as long as short
Binance TSMUSDT	+0.0068%	8h	439.55	0.000%	$12.9M	$7.8M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0072%	8h	439.64	+0.022%	$4K	$1.3M	10x	as long as short
BloFin TSM-USDT	+0.0080%	8h	439.79	+0.055%	$45K	$105K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	438.92	−0.143%	$266K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.48	−0.015%	$21	—	10x	as long as short
Aevo TSM-PERPlong	+0.0104%	1h	439.55	long leg	$123	—	10x
Phoenix TSM	+0.0164%	1h	439.53	−0.004%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.69	+1.170%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0798%	1h	439.50	−0.011%	$4	$25K	10x	as long as short