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 −0.013%

Price spread now: OKX against Bitget+0.002%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.002%, 7d avg −0.053%

Together, before fees−0.149%−$15 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: OKX is 0.056% dearer against Bitget than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TSMUSDT	445.81	0	get 0.0000% / 8h	1h 28m	$1.6M	$1.5M	20x
Short	OKX TSM-USDT-SWAP	445.82	0	get 0.0000% / 8h	1h 28m	$4.0M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → −0.053%: $5.56
Slippage, 4 orders: −$17.5
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.95
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; OKX: live order book, 4 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	1.68 bp	13.2 bp −$13	21.9 bp −$219	50.9 bp −$5,087	doesn't fit
Sell OKX live order book, 4 min ago	1.23 bp	9.3 bp −$9	20.1 bp −$201	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
Aster TSMUSDT	0.0000%	8h	445.72	−0.021%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.85	+0.009%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.91	+0.023%	$13.1M	$6.9M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.60	−0.047%	$2.0M	$420K	50x	as long as short
OKX TSM-USDT-SWAPshort	0.0000%	8h	445.82	+0.002%	$4.0M	$3.1M	20x
Gate TSM_USDT	0.0000%	8h	445.51	−0.067%	$1.7M	$921K	100x	as long as short
Bitget TSMUSDTlong	0.0000%	8h	445.81	long leg	$1.6M	$1.5M	20x
Variational Omni TSM	0.0000%	8h	445.64	−0.038%	$552K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	445.64	−0.038%	$15K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	445.83	+0.004%	$2K	$5.4M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TSM-USDT	0.0000%	8h	445.42	−0.087%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.26	−0.123%	$1.5M	$469K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.271%	$356K	$96K	10x	as long as short
BloFin TSM-USDT	+0.0018%	8h	445.84	+0.007%	$44K	$104K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	445.99	+0.040%	$226K	$598K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	445.56	−0.056%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.65	−0.036%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.51	−0.067%	$196K	$91K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	445.51	−0.067%	$147	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.11	−0.157%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.42	−0.087%	$270K	$337K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.74	−0.016%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.00	+0.043%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.51	−0.067%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+0.920%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0289%	1h	445.89	+0.018%	$4	$61K	10x	as long as short
Lighter TSM	+0.0456%	1h	446.45	+0.144%	$504K	$163K	10x	as long as short
edgeX TSMUSDC	+0.0848%	4h	445.63	−0.040%	$48K	$215K	10x	as long as short