Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.009%

Price spread now: Vest against BloFin−0.109%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.109% cheaper against BloFin than usual: you would sell low and buy high (spread −0.109% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 5.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TSM-USDT	438.52	−0.0019	get 0.0019% / 8h	7h 42m	$45K	$108K	20x
Short	Vest TSM-USD-PERP	438.04	0.0046	get 0.0006% / 1h	42m 08s	—	$2K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against BloFin. 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 BloFinbpFee VestbpOrdersPrice spread, now −0.109%Rate

Funding earned: $13.59
Price spread: −0.109% → 0.000%: −$10.95
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$11.36
Costs to cover: 0.140%
Break-even: 12.9 days

Slippage unknown: BloFin: live order book, 13 min ago; Vest: 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 BloFin live order book, 13 min ago	0.91 bp	12.7 bp −$13	28.5 bp −$285	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 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	−0.0884%	4h	438.44	−0.019%	$47K	$217K	10x	as long as short
BloFin TSM-USDTlong	−0.0019%	8h	438.52	long leg	$45K	$108K	20x
Aster TSMUSDT	0.0000%	8h	438.39	−0.030%	$81K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	437.95	−0.130%	$2.0M	$409K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	438.20	−0.073%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	438.12	−0.091%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	438.07	−0.103%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	438.28	−0.054%	$549K	$45K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	438.57	+0.011%	$13K	$1.3M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	438.22	−0.068%	$1K	$4.0M	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	438.61	+0.021%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	438.66	+0.032%	$1.5M	$532K	10x	as long as short
Extended TSM-USD	+0.0008%	1h	438.12	−0.092%	$3K	$219K	10x	as long as short
Binance TSMUSDT	+0.0009%	8h	438.22	−0.069%	$12.8M	$8.2M	20x	as long as short
Lighter TSM	+0.0032%	1h	437.98	−0.123%	$493K	$189K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	438.00	−0.119%	$195K	$736K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0040%	1h	438.04	−0.109%	$372K	$101K	10x	as long as short
Vest TSM-USD-PERPshort	+0.0046%	1h	438.04	−0.109%	—	$2K	25x
tradeXYZ xyz:TSM	+0.0050%	1h	437.76	−0.173%	$10.0M	$1.9M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	438.18	−0.078%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	437.97	−0.125%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	438.03	−0.112%	$157K	$28K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	437.93	−0.135%	$266K	$326K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	438.13	−0.089%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	438.05	−0.107%	$123	—	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0138%	1h	437.87	−0.148%	$4	$13K	10x	as long as short
Phoenix TSM	+0.0145%	1h	438.01	−0.116%	$208K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+1.238%	$6K	$38K	12x	as long as short