Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Polymarket Perps−0.022%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.022%, 7d avg +0.015%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.037% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TSM-USD	446.18	0.0050	pay 0.0006% / 1h	51m 22s	$196K	$90K	10x
Short	Gate TSM_USDT	446.08	0	get 0.0000% / 8h	51m 22s	$1.7M	$906K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Polymarket 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 Polymarket PerpsbpFee GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: −$10.5
Price spread: −0.022% → +0.015%: −$3.72
Slippage, 4 orders: −$24.7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.93
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 25 min ago; Gate: live order book, 1 min ago.

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 Polymarket Perps live order book, 25 min ago	2.36 bp	8.6 bp −$9	10.3 bp −$103	11.6 bp −$1,163	doesn't fit
Sell Gate live order book, 1 min ago	0.11 bp	12.9 bp −$13	34.6 bp −$346	51.6 bp −$5,162	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	−0.0564%	4h	446.35	+0.039%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.07	−0.025%	$357K	$97K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	446.29	+0.025%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.36	+0.041%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.46	+0.062%	$13.2M	$6.8M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	446.06	−0.027%	$2.0M	$417K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.39	+0.047%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDTshort	0.0000%	8h	446.08	−0.022%	$1.7M	$906K	100x
Bitget TSMUSDT	0.0000%	8h	446.34	+0.036%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	446.20	+0.006%	$553K	$85K	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TSM_USDT_Perp	0.0000%	8h	446.32	+0.031%	$5K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	446.44	+0.058%	$2K	$5.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.43	+0.056%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.10	−0.242%	$1.5M	$458K	10x	as long as short
BloFin TSM-USDT	+0.0027%	8h	446.43	+0.056%	$44K	$103K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	446.40	+0.049%	$231K	$585K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	446.06	−0.027%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.00	−0.040%	$10.3M	$2.5M	10x	as long as short
Polymarket Perps TSM-USDlong	+0.0050%	1h	446.18	long leg	$196K	$90K	10x
SoDEX TSM-USD	+0.0050%	1h	445.97	−0.047%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.88	−0.067%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	446.01	−0.038%	$271K	$323K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.33	+0.034%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.42	+0.054%	$125	—	10x	as long as short
Phoenix TSM	+0.0215%	1h	446.19	+0.002%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+1.018%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0384%	1h	446.91	+0.164%	$504K	$166K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0467%	1h	446.36	+0.040%	$4	$61K	10x	as long as short