Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0557%/8h= +61.0% APRpaid last 24h −0.064%

Price spread now: SoDEX against edgeX−0.065%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on SoDEX

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 airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.065% cheaper against edgeX than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 9 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TSMUSDC	442.52	−0.0507	get 0.0254% / 4h	1h 07m	$48K	$216K	10x
Short	SoDEX TSM-USD	442.23	0.0050	get 0.0006% / 1h	7m 10s	$135	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against edgeX. 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 edgeXbpFee SoDEXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $116.99
Price spread: −0.065% → 0.000%: −$6.46
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $93.53
Costs to cover: 0.170%
Break-even: 1.4 days

Slippage unknown: edgeX: live order book, 38 min ago; 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 edgeX live order book, 38 min ago	5.32 bp	10.0 bp −$10	12.7 bp −$127	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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 28 exchanges

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 TSMUSDClong	−0.0507%	4h	442.52	long leg	$48K	$216K	10x
Coinbase International TSM-PERP-INTX	−0.0056%	1h	441.94	−0.130%	$373K	$110K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	442.39	−0.028%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	442.35	−0.037%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	442.59	+0.017%	$4.1M	$2.8M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	442.41	−0.024%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	442.70	+0.042%	$1.8M	$1.5M	20x	as long as short
SunX TSM-USDT	0.0000%	8h	442.74	+0.051%	$2K	$3.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	442.24	−0.062%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	442.11	−0.092%	$1.5M	$570K	10x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TSM	+0.0030%	8h	442.47	−0.010%	$554K	$44K	—	as long as short
Lighter TSM	+0.0032%	1h	442.53	+0.003%	$498K	$143K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	442.58	+0.015%	$203K	$692K	10x	as long as short
Injective TSM/USDC PERP	+0.0033%	1h	443.95	+0.324%	$6K	$38K	12x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	442.19	−0.074%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	442.24	−0.062%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	442.34	−0.040%	$187K	$71K	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	442.23	−0.065%	$135	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	442.44	−0.017%	$161K	$36K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	442.09	−0.096%	$268K	$486K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	442.62	+0.024%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	442.75	+0.053%	$124	—	10x	as long as short
BloFin TSM-USDT	+0.0113%	8h	442.75	+0.053%	$46K	$119K	20x	as long as short
Binance TSMUSDT	+0.0118%	8h	442.67	+0.035%	$13.2M	$8.9M	20x	as long as short
Extended TSM-USD	+0.0120%	1h	442.60	+0.019%	$2K	$220K	10x	as long as short
Phoenix TSM	+0.0253%	1h	442.24	−0.062%	$206K	$10K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0315%	8h	442.58	+0.014%	$8K	$1.4M	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0541%	1h	442.59	+0.017%	$89	$10K	10x	as long as short