Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.027%

Price spread now: SoDEX against OKX−0.070%7-day average — · you buy dearer than you sell

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

Long on OKX 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 0.070% cheaper against OKX than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.6 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	OKX TSM-USDT-SWAP	445.31	0	get 0.0000% / 8h	1h 47m	$4.0M	$3.1M	20x
Short	SoDEX TSM-USD	445.00	0.0050	get 0.0006% / 1h	47m 45s	$147	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $10.5
Price spread: −0.070% → 0.000%: −$6.96
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.46
Costs to cover: 0.180%
Break-even: 16.6 days

Slippage unknown: OKX: 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 OKX live order book, 5 min ago	1.57 bp	8.3 bp −$8	21.7 bp −$217	doesn't fit	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
BloFin TSM-USDT	−0.0017%	8h	445.46	+0.034%	$44K	$104K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	445.22	−0.020%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.30	−0.002%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.37	+0.013%	$13.1M	$6.9M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.14	−0.038%	$2.0M	$420K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	445.31	long leg	$4.0M	$3.1M	20x
Gate TSM_USDT	0.0000%	8h	445.15	−0.036%	$1.7M	$919K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	445.36	+0.011%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	445.30	−0.002%	$551K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	445.35	+0.010%	$7K	$1.1M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TSM-USDT	0.0000%	8h	445.38	+0.016%	$2K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	445.33	+0.004%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.06	−0.056%	$1.5M	$467K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.159%	$356K	$96K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	445.40	+0.020%	$224K	$597K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.95	−0.081%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.02	−0.065%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.16	−0.034%	$195K	$89K	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	445.00	−0.070%	$147	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	444.88	−0.097%	$158K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.96	−0.079%	$269K	$340K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.32	+0.002%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	445.38	+0.016%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.39	+0.018%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+1.033%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0537%	4h	445.31	0.000%	$48K	$215K	10x	as long as short
Lighter TSM	+0.0656%	1h	446.02	+0.159%	$503K	$160K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0762%	1h	445.29	−0.004%	$4	$61K	10x	as long as short