Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.009%

Price spread now: Aster against Extended+0.191%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

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

Together, before fees—+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.191% dearer against Extended than usual: you sell high and buy low (spread +0.191% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.040% in total) that is about 33 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TSM-USD	439.69	0.0056	pay 0.0007% / 1h	41m 32s	$2K	$179K	10x
Short	Aster TSMUSDT	440.53	0	get 0.0000% / 8h	41m 32s	$82K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$11.76
Price spread: +0.191% → 0.000%: $19.08
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$5.68
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Extended: live order book, 59 min ago; Aster: 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 Extended live order book, 59 min ago	0.80 bp	8.6 bp −$9	72.3 bp −$723	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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
Bitget TSMUSDT	−0.0161%	8h	439.76	+0.016%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDTshort	0.0000%	8h	440.53	+0.191%	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	439.34	−0.080%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.80	+0.025%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.56	−0.030%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.35	−0.076%	$558K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.62	−0.016%	$2K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.39	−0.068%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.72	+0.234%	$1.5M	$528K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.70	+0.002%	$496K	$188K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	439.50	−0.043%	$221K	$720K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	438.96	−0.166%	—	$2K	25x	as long as short
BloFin TSM-USDT	+0.0046%	8h	439.57	−0.027%	$45K	$106K	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.31	−0.086%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.24	−0.102%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.04	−0.148%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.55	−0.032%	$158K	$27K	10x	as long as short
Extended TSM-USDlong	+0.0056%	1h	439.69	long leg	$2K	$179K	10x
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	−0.082%	$366K	$97K	10x	as long as short
Binance TSMUSDT	+0.0060%	8h	439.80	+0.025%	$12.8M	$8.0M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0064%	8h	439.36	−0.075%	$6K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.30	−0.089%	$266K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.46	−0.052%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.52	−0.038%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	439.11	−0.132%	$214K	$5K	10x	as long as short
edgeX TSMUSDC	+0.0167%	4h	439.47	−0.049%	$47K	$215K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+0.985%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0479%	1h	439.37	−0.073%	$4	$25K	10x	as long as short