Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.024%

Price spread now: Lighter RH against Aster−0.071%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.071% cheaper against Aster than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 7.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	443.69	0	get 0.0000% / 8h	6h 03m	$81K	$1K	20x
Short	Lighter RH TSM	443.38	0.0032	get 0.0004% / 1h	3m 18s	$221K	$645K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.071%Rate

Funding earned: $6.72
Price spread: −0.071% → 0.000%: −$7.07
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$8.35
Costs to cover: 0.080%
Break-even: 15.7 days

Slippage unknown: Aster: no order-book sample; Lighter RH: live order book, 64 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 Lighter RH live order book, 64 min ago	2.35 bp	2.6 bp −$3	8.7 bp −$87	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 27 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
Aster TSMUSDTlong	0.0000%	8h	443.69	long leg	$81K	$1K	20x
Bybit TSMUSDT	0.0000%	8h	443.11	−0.132%	$2.0M	$391K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.38	−0.071%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.27	−0.096%	$1.7M	$1.0M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.53	−0.037%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.48	−0.049%	$549K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.52	−0.039%	$2K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.50	−0.044%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	443.66	−0.008%	$1.5M	$441K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	443.28	−0.093%	$370K	$107K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSMshort	+0.0032%	1h	443.38	−0.071%	$221K	$645K	10x
Binance TSMUSDT	+0.0039%	8h	443.42	−0.062%	$13.0M	$6.7M	20x	as long as short
Extended TSM-USD	+0.0040%	1h	443.40	−0.066%	$4K	$195K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	442.96	−0.165%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	442.94	−0.170%	$10.2M	$2.3M	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	442.95	−0.168%	$138	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.06	−0.143%	$159K	$23K	10x	as long as short
Polymarket Perps TSM-USD	+0.0052%	1h	443.17	−0.118%	$196K	$51K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.01	−0.154%	$269K	$319K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.35	−0.078%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.42	−0.062%	$124	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	443.39	−0.068%	$216K	$5K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0185%	8h	443.53	−0.036%	$9K	$1.1M	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.49	+1.306%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0392%	1h	443.98	+0.064%	$501K	$172K	10x	as long as short
edgeX TSMUSDC	+0.0408%	4h	443.69	−0.001%	$48K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0766%	1h	443.41	−0.064%	$4	$24K	10x	as long as short