Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: SunX against Aevo+0.062%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 SunX

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. SunX is 0.062% dearer against Aevo than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TSM-PERP	439.76	0.0104	pay 0.0013% / 1h	55m 00s	$123	—	10x
Short	SunX TSM-USDT	440.03	0	get 0.0000% / 8h	6h 55m	$1K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$21.84
Price spread: +0.062% → 0.000%: $6.19
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$39.65
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; SunX: 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 Aevo no order-book sample	—	—	—	—	—
Sell SunX live order book, 3 min ago	45.21 bp	127.3 bp −$127	doesn't fit	doesn't fit	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	−0.0060%	4h	439.99	+0.052%	$47K	$216K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0016%	1h	439.24	−0.118%	$371K	$98K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	439.87	+0.025%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.66	−0.022%	$2.0M	$401K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.70	−0.013%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.63	−0.029%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	439.68	−0.018%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	440.01	+0.057%	$551K	$44K	—	as long as short
SunX TSM-USDTshort	0.0000%	8h	440.03	+0.062%	$1K	$3.9M	10x
HTX TSM-USDT	0.0000%	8h	440.08	+0.073%	$9K	$8K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	439.89	+0.030%	$1.5M	$542K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.80	+0.010%	$495K	$143K	10x	as long as short
Extended TSM-USD	+0.0032%	1h	439.69	−0.016%	$1K	$214K	10x	as long as short
Binance TSMUSDT	+0.0035%	8h	439.82	+0.014%	$12.9M	$8.3M	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.61	−0.034%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.41	−0.079%	$10.1M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.49	−0.061%	$190K	$67K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.41	−0.079%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.93	+0.039%	$158K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0063%	8h	439.85	+0.021%	$45K	$111K	20x	as long as short
Lighter RH TSM	+0.0064%	1h	439.76	+0.001%	$196K	$724K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.50	−0.059%	$268K	$375K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.79	+0.007%	$21	—	10x	as long as short
Aevo TSM-PERPlong	+0.0104%	1h	439.76	long leg	$123	—	10x
Phoenix TSM	+0.0145%	1h	439.83	+0.016%	$209K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+0.953%	$6K	$38K	12x	as long as short
GRVT TSM_USDT_Perp	+0.0279%	8h	439.98	+0.050%	$12K	$1.3M	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0660%	1h	439.81	+0.012%	$4	$13K	10x	as long as short