Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.005%

Price spread now: Coinbase International against Gate+0.002%7-day average −0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$520.524% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 3 days (all we have)−0.035%−$4 · spread now +0.002%, 7d avg −0.159%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.161% dearer against Gate than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.159%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 22 days. At the pace of the last 7 days (−0.157% in total) that is about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TSM_USDT	446.06	0	get 0.0000% / 8h	50m 42s	$1.7M	$906K	100x
Short	Coinbase International TSM-PERP-INTX	446.07	−0.0024	pay 0.0003% / 1h	50m 42s	$357K	$97K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$5.04
Price spread: +0.002% → −0.159%: $16.1
Slippage, 4 orders: −$27.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$41.33
Costs to cover: 0.524%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 27 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 Gate live order book, 2 min ago	0.11 bp	19.8 bp −$20	97.8 bp −$978	141.0 bp −$14.1K	doesn't fit
Sell Coinbase International live order book, 27 min ago	4.49 bp	9.5 bp −$9	13.8 bp −$138	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	−0.0564%	4h	446.35	+0.066%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTXshort	−0.0024%	1h	446.07	+0.002%	$357K	$97K	10x
BloFin TSM-USDT	−0.0001%	8h	446.43	+0.083%	$44K	$102K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	446.29	+0.051%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.38	+0.071%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.47	+0.091%	$13.2M	$6.8M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	446.04	−0.004%	$2.0M	$417K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.39	+0.074%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDTlong	0.0000%	8h	446.06	long leg	$1.7M	$906K	100x
Bitget TSMUSDT	0.0000%	8h	446.29	+0.052%	$1.6M	$1.5M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TSM	0.0000%	8h	446.20	+0.032%	$553K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	446.32	+0.058%	$5K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	446.44	+0.085%	$2K	$5.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.43	+0.083%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.08	−0.220%	$1.5M	$457K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	446.41	+0.078%	$231K	$585K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	446.06	0.000%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.00	−0.013%	$10.3M	$2.5M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	446.18	+0.027%	$196K	$90K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	446.03	−0.007%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.88	−0.040%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.92	−0.031%	$270K	$323K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.33	+0.061%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.41	+0.079%	$125	—	10x	as long as short
Phoenix TSM	+0.0215%	1h	446.19	+0.029%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+1.045%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0368%	1h	446.91	+0.191%	$504K	$166K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0423%	1h	446.34	+0.063%	$4	$61K	10x	as long as short