Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Gate−0.138%7-day average — · you buy dearer than you sell

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

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.138% cheaper against Gate than usual: you would sell low and buy high (spread −0.138% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 9.2 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	Gate TSM_USDT	441.03	0	get 0.0000% / 8h	3h 27m	$1.7M	$1.0M	100x
Short	SoDEX TSM-USD	440.42	0.0050	get 0.0006% / 1h	27m 44s	$140	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.138%Rate

Funding earned: $10.5
Price spread: −0.138% → 0.000%: −$13.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$26.33
Costs to cover: 0.230%
Break-even: 24.6 days

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	5.00 bp	14.6 bp −$15	84.4 bp −$844	146.6 bp −$14.7K	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 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	−0.0764%	4h	440.64	−0.089%	$47K	$217K	10x	as long as short
Bitget TSMUSDT	−0.0202%	8h	441.06	+0.007%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.18	+0.034%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.96	−0.016%	$2.0M	$388K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.20	+0.039%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDTlong	0.0000%	8h	441.03	long leg	$1.7M	$1.0M	100x
Variational Omni TSM	0.0000%	8h	440.76	−0.062%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.18	+0.034%	$2K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.91	−0.027%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.34	+0.070%	$1.5M	$481K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	441.03	0.000%	$497K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	441.24	+0.048%	$223K	$671K	10x	as long as short
BloFin TSM-USDT	+0.0042%	8h	441.08	+0.011%	$45K	$100K	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.84	−0.043%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.85	−0.041%	$10.3M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.85	−0.041%	$192K	$60K	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	440.42	−0.138%	$140	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	439.96	−0.243%	$157K	$22K	10x	as long as short
Binance TSMUSDT	+0.0071%	8h	441.29	+0.060%	$12.9M	$7.4M	20x	as long as short
Extended TSM-USD	+0.0072%	1h	441.16	+0.029%	$2K	$195K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.227%	$367K	$102K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0091%	8h	440.78	−0.057%	$11K	$1.2M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.84	−0.043%	$268K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.16	+0.029%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.07	+0.010%	$124	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.23	−0.181%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.10	+0.923%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0340%	1h	441.18	+0.034%	$97	$24K	10x	as long as short