Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: SunX against Bitget+0.016%50s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$345as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3413.406% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.016%, 7d avg −0.022%

Together, before fees−0.068%−$7 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: SunX is 0.038% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.022%. The two prices were read 50 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	Bitget TSMUSDT	437.40	0	get 0.0000% / 8h	7h 52m	$1.8M	$1.5M	20x
Short	SunX TSM-USDT	437.47	0	get 0.0000% / 8h	7h 52m	$2K	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.022%: $3.78
Slippage, 4 orders: −$320.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$336.8
Costs to cover: 3.406%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; SunX: live order book, 6 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, 4 min ago	2.28 bp	12.3 bp −$12	33.0 bp −$330	59.1 bp −$5,912	doesn't fit
Sell SunX live order book, 6 min ago	79.76 bp	162.3 bp −$162	doesn't fit	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
edgeX TSMUSDC	−0.0700%	4h	438.16	+0.173%	$47K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	438.17	+0.176%	$81K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	437.18	−0.050%	$2.0M	$408K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	437.46	+0.014%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	437.29	−0.025%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDTlong	0.0000%	8h	437.40	long leg	$1.8M	$1.5M	20x
Variational Omni TSM	0.0000%	8h	439.14	+0.397%	$553K	$43K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	437.82	+0.097%	$7K	$1.3M	10x	as long as short
SunX TSM-USDTshort	0.0000%	8h	437.47	+0.016%	$2K	$4.0M	10x
HTX TSM-USDT	0.0000%	8h	438.04	+0.146%	$9K	$8K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	438.24	+0.192%	$1.5M	$525K	10x	as long as short
Binance TSMUSDT	+0.0026%	8h	437.64	+0.055%	$12.8M	$8.1M	20x	as long as short
Lighter TSM	+0.0032%	1h	437.36	−0.009%	$492K	$189K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	437.18	−0.050%	$194K	$734K	10x	as long as short
Extended TSM-USD	+0.0032%	1h	437.43	+0.007%	$3K	$219K	10x	as long as short
BloFin TSM-USDT	+0.0034%	8h	437.61	+0.048%	$45K	$107K	20x	as long as short
Coinbase International TSM-PERP-INTX	+0.0040%	1h	436.96	−0.101%	$369K	$100K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	436.93	−0.107%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	436.93	−0.107%	$10.0M	$1.9M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	436.99	−0.094%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	437.05	−0.080%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	436.92	−0.110%	$157K	$28K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	437.43	+0.007%	$266K	$324K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	437.69	+0.066%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	437.46	+0.013%	$122	—	10x	as long as short
Phoenix TSM	+0.0145%	1h	439.14	+0.398%	$208K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+1.497%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0231%	1h	437.13	−0.062%	$4	$17K	10x	as long as short