Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Aster−0.127%45s7-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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. SoDEX is 0.127% cheaper against Aster than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.5 days of funding at the current rate (+$2 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	443.59	0	get 0.0000% / 8h	6h 00m	$81K	$1K	20x
Short	SoDEX TSM-USD	443.03	0.0050	get 0.0006% / 1h	0m 33s	$138	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $10.5
Price spread: −0.127% → 0.000%: −$12.72
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$18.22
Costs to cover: 0.160%
Break-even: 19.1 days

Slippage unknown: Aster: no order-book sample; SoDEX: no order-book sample. 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 SoDEX no order-book sample	—	—	—	—	—

Aster and SoDEX: 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
edgeX TSMUSDC	−0.0600%	4h	443.42	−0.040%	$48K	$217K	10x	as long as short
Aster TSMUSDTlong	0.0000%	8h	443.59	long leg	$81K	$1K	20x
Bybit TSMUSDT	0.0000%	8h	443.18	−0.093%	$2.0M	$390K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.30	−0.066%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.19	−0.091%	$1.7M	$1.0M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.45	−0.033%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.52	−0.017%	$549K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.59	−0.001%	$1K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.50	−0.021%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	443.66	+0.015%	$1.5M	$440K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TSM-PERP-INTX	+0.0016%	1h	443.28	−0.071%	$370K	$107K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.38	−0.048%	$221K	$648K	10x	as long as short
Extended TSM-USD	+0.0040%	1h	443.38	−0.049%	$4K	$195K	10x	as long as short
Binance TSMUSDT	+0.0044%	8h	443.52	−0.017%	$13.0M	$6.7M	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	442.89	−0.159%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.00	−0.134%	$10.2M	$2.3M	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	443.03	−0.127%	$138	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	443.02	−0.129%	$159K	$23K	10x	as long as short
Polymarket Perps TSM-USD	+0.0055%	1h	443.24	−0.080%	$196K	$51K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.05	−0.123%	$269K	$319K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.45	−0.033%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.40	−0.043%	$124	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	443.14	−0.102%	$216K	$5K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0192%	8h	443.55	−0.010%	$9K	$1.1M	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.49	+1.329%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0368%	1h	443.91	+0.071%	$501K	$173K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0766%	1h	443.38	−0.048%	$4	$24K	10x	as long as short