Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.022%

Price spread now: OKX against Lighter RH+0.016%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.016%, 7d avg −0.064%

Together, before fees−0.069%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.079% dearer against Lighter RH than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.064%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH TSM	440.78	0.0032	pay 0.0004% / 1h	6m 59s	$225K	$689K	10x
Short	OKX TSM-USDT-SWAP	440.85	0	get 0.0000% / 8h	2h 06m	$4.0M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter RH. 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 Lighter RHbpFee OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$6.72
Price spread: +0.016% → −0.064%: $7.95
Slippage, 4 orders: −$17.42
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$26.19
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 41 min ago; OKX: live order book, just now.

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 Lighter RH live order book, 41 min ago	2.27 bp	2.7 bp −$3	16.7 bp −$167	doesn't fit	doesn't fit
Sell OKX live order book, just now	0.68 bp	13.3 bp −$13	27.8 bp −$278	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	−0.0617%	4h	440.90	+0.027%	$48K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0204%	8h	440.98	+0.045%	$1.7M	$1.6M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.72	−0.014%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.67	−0.025%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAPshort	0.0000%	8h	440.85	+0.016%	$4.0M	$2.6M	20x
Gate TSM_USDT	0.0000%	8h	440.72	−0.014%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.87	+0.020%	$553K	$30K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.01	+0.052%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.90	+0.027%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.32	+0.123%	$1.5M	$512K	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	440.83	+0.011%	$496K	$138K	10x	as long as short
Lighter RH TSMlong	+0.0032%	1h	440.78	long leg	$225K	$689K	10x
Vest TSM-USD-PERP	+0.0046%	1h	440.35	−0.098%	—	$1K	25x	as long as short
GRVT TSM_USDT_Perp	+0.0046%	8h	440.88	+0.023%	$5K	$1.3M	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.39	−0.088%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.62	−0.036%	$192K	$63K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.44	−0.077%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.73	−0.011%	$158K	$27K	10x	as long as short
Binance TSMUSDT	+0.0053%	8h	441.01	+0.052%	$12.9M	$7.8M	20x	as long as short
Extended TSM-USD	+0.0056%	1h	440.86	+0.019%	$5K	$183K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0072%	1h	439.33	−0.329%	$366K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0077%	8h	441.06	+0.064%	$45K	$104K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.37	−0.093%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.79	+0.002%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.91	+0.028%	$123	—	10x	as long as short
Phoenix TSM	+0.0163%	1h	440.78	0.000%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.65	+0.878%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0772%	1h	440.85	+0.016%	$4	$24K	10x	as long as short