Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Binance against Bitget+0.036%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 2 days (all we have)−0.033%−$3 · spread now +0.036%, 7d avg −0.012%

Together, before fees−0.335%−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.048% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TSMUSDT	446.23	0	get 0.0000% / 8h	54m 01s	$1.6M	$1.5M	20x
Short	Binance TSMUSDT	446.39	0	get 0.0000% / 8h	54m 01s	$13.2M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.012%: $4.8
Slippage, 4 orders: −$14.18
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$31.38
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Binance: live order book, 16 min ago.

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 Bitget live order book, 3 min ago	2.02 bp	11.8 bp −$12	13.6 bp −$136	41.3 bp −$4,134	doesn't fit
Sell Binance live order book, 16 min ago	0.11 bp	8.5 bp −$9	20.2 bp −$202	doesn't fit	doesn't fit

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
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.07	−0.036%	$357K	$97K	10x	as long as short
BloFin TSM-USDT	−0.0006%	8h	446.43	+0.045%	$44K	$103K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	446.05	−0.039%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.32	+0.020%	$2K	$167K	10x	as long as short
Binance TSMUSDTshort	0.0000%	8h	446.39	+0.036%	$13.2M	$6.8M	20x
Bybit TSMUSDT	0.0000%	8h	445.94	−0.065%	$2.0M	$418K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.34	+0.025%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	446.04	−0.043%	$1.7M	$905K	100x	as long as short
Bitget TSMUSDTlong	0.0000%	8h	446.23	long leg	$1.6M	$1.5M	20x
Variational Omni TSM	0.0000%	8h	446.20	−0.006%	$553K	$85K	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TSM_USDT_Perp	0.0000%	8h	446.19	−0.009%	$5K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	446.44	+0.047%	$1K	$5.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.43	+0.045%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.09	−0.255%	$1.5M	$461K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	446.28	+0.011%	$231K	$585K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	445.92	−0.069%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.90	−0.074%	$10.3M	$2.5M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	446.03	−0.045%	$196K	$90K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	445.96	−0.061%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	446.01	−0.049%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.86	−0.083%	$271K	$323K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.18	−0.011%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.32	+0.020%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.96	−0.061%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+1.006%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0291%	4h	446.19	−0.009%	$48K	$214K	10x	as long as short
Lighter TSM	+0.0368%	1h	446.76	+0.119%	$504K	$166K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0714%	1h	446.28	+0.011%	$4	$61K	10x	as long as short