Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0859%/8h= −94.0% APRpaid last 24h +0.030%

Price spread now: edgeX against Aster+0.144%60s7-day average — · you sell dearer than you buy

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

Long on Aster Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · edgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.144% dearer against Aster than usual: you sell high and buy low (spread +0.144% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.071% in total) that is about 14 days. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	439.13	0	get 0.0000% / 8h	1h 34m	$82K	$2K	20x
Short	edgeX TSMUSDC	439.77	−0.0859	pay 0.0429% / 4h	1h 34m	$47K	$216K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aster. 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 AsterbpFee edgeXbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$180.32
Price spread: +0.144% → 0.000%: $14.39
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$182.93
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; edgeX: live order book, 7 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 Aster no order-book sample	—	—	—	—	—
Sell edgeX live order book, 7 min ago	5.69 bp	10.4 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit

Aster: 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 TSMUSDCshort	−0.0859%	4h	439.77	+0.144%	$47K	$216K	10x
Bitget TSMUSDT	−0.0218%	8h	439.50	+0.083%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDTlong	0.0000%	8h	439.13	long leg	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	439.12	−0.003%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.16	+0.006%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.04	−0.021%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.75	+0.140%	$556K	$36K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.27	+0.031%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.64	+0.115%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.35	+0.277%	$1.5M	$515K	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	439.23	+0.022%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.04	−0.021%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	438.81	−0.074%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	+0.045%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	438.61	−0.119%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.05	−0.019%	$191K	$65K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	438.94	−0.044%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.33	+0.045%	$157K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0064%	8h	439.32	+0.042%	$45K	$105K	20x	as long as short
Binance TSMUSDT	+0.0070%	8h	439.32	+0.042%	$12.8M	$7.8M	20x	as long as short
Extended TSM-USD	+0.0072%	1h	439.15	+0.003%	$3K	$176K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0076%	8h	439.79	+0.150%	$4K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	438.74	−0.090%	$266K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.16	+0.006%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.22	+0.020%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.53	+0.090%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.69	+1.265%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0913%	1h	439.17	+0.008%	$4	$25K	10x	as long as short