Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: GRVT against OKX+0.068%111s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.515% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.095%+$10 · spread now +0.068%, 7d avg +0.045%

Together, before fees+0.135%+ Points / potential airdropGRVT: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.023% dearer against OKX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.045%. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TSM-USDT-SWAP	438.11	0	get 0.0000% / 8h	7h 37m	$4.0M	$2.7M	20x
Short	GRVT TSM_USDT_Perp	438.41	0	get 0.0000% / 8h	7h 37m	$13K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against OKX. 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 OKXbpFee GRVTbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → +0.045%: $2.3
Slippage, 4 orders: −$32.48
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$49.18
Costs to cover: 0.515%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; GRVT: 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 OKX live order book, 5 min ago	0.57 bp	9.2 bp −$9	22.3 bp −$223	doesn't fit	doesn't fit
Sell GRVT live order book, just now	1.37 bp	15.1 bp −$15	doesn't fit	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
BloFin TSM-USDT	0.0000%	8h	438.33	+0.050%	$45K	$108K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	438.38	+0.061%	$81K	$2K	20x	as long as short
Extended TSM-USD	0.0000%	1h	438.09	−0.004%	$3K	$219K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	438.21	+0.023%	$12.8M	$8.2M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	437.98	−0.030%	$2.0M	$409K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	438.11	long leg	$4.0M	$2.7M	20x
Gate TSM_USDT	0.0000%	8h	438.06	−0.011%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	438.19	+0.018%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	438.19	+0.018%	$549K	$45K	—	as long as short
GRVT TSM_USDT_Perpshort	0.0000%	8h	438.41	+0.068%	$13K	$1.3M	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TSM-USDT	0.0000%	8h	438.21	+0.023%	$1K	$4.0M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	438.27	+0.037%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	438.16	+0.011%	$1.5M	$533K	10x	as long as short
Lighter TSM	+0.0032%	1h	438.23	+0.027%	$493K	$189K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	438.17	+0.014%	$195K	$736K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0040%	1h	437.71	−0.091%	$371K	$100K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	437.94	−0.039%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	437.78	−0.075%	$10.0M	$1.9M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	437.99	−0.027%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	437.84	−0.062%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	437.67	−0.100%	$157K	$28K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	437.83	−0.064%	$266K	$331K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	438.17	+0.014%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	438.07	−0.008%	$123	—	10x	as long as short
Phoenix TSM	+0.0145%	1h	438.07	−0.009%	$208K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+1.333%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0458%	1h	438.18	+0.016%	$4	$13K	10x	as long as short
edgeX TSMUSDC	+0.0493%	4h	438.22	+0.026%	$47K	$216K	10x	as long as short