Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Aster against Ondo Perps+0.134%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.134% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps TSM-USD.P	443.66	0.0050	pay 0.0006% / 1h	36m 24s	$159K	$23K	10x
Short	Aster TSMUSDT	444.26	0	get 0.0000% / 8h	5h 36m	$82K	$1K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Ondo Perps. 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 Ondo PerpsbpFee AsterbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$10.58
Price spread: +0.134% → 0.000%: $13.43
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$10.15
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Aster: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Ondo Perps and Aster: 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	−0.0556%	4h	443.73	+0.016%	$48K	$216K	10x	as long as short
Aster TSMUSDTshort	0.0000%	8h	444.26	+0.134%	$82K	$1K	20x
Bybit TSMUSDT	0.0000%	8h	443.77	+0.025%	$2.0M	$392K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.98	+0.072%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.82	+0.036%	$1.7M	$954K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.94	+0.063%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.70	+0.009%	$550K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.93	+0.061%	$1K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.85	+0.043%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.00	+0.077%	$1.5M	$441K	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	444.19	+0.119%	$501K	$173K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.98	+0.072%	$221K	$644K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.72	+0.014%	—	$583	25x	as long as short
Extended TSM-USD	+0.0048%	1h	443.91	+0.056%	$1K	$191K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.54	−0.027%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.62	−0.009%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.46	−0.045%	$137	$3K	10x	as long as short
Ondo Perps TSM-USD.Plong	+0.0050%	1h	443.66	long leg	$159K	$23K	10x
Binance TSMUSDT	+0.0051%	8h	444.01	+0.079%	$13.0M	$6.8M	20x	as long as short
BloFin TSM-USDT	+0.0058%	8h	443.95	+0.065%	$45K	$98K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.53	−0.029%	$270K	$320K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.92	+0.059%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.82	+0.037%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.28	−0.086%	$370K	$107K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0168%	8h	443.83	+0.038%	$8K	$1.1M	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.67	+0.002%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	448.49	+1.089%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0223%	1h	443.78	+0.027%	$98	$24K	10x	as long as short