Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Bitget against SoDEX+0.038%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Bitget

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

The price spread pays, funding is against you. Bitget is 0.038% dearer against SoDEX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX TSM-USD	445.73	0.0050	pay 0.0006% / 1h	18m 41s	$145	$3K	10x
Short	Bitget TSMUSDT	445.90	0	get 0.0000% / 8h	1h 18m	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SoDEX. 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 SoDEXbpFee BitgetbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$10.5
Price spread: +0.038% → 0.000%: $3.81
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.69
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bitget: live order book, 3 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	0.22 bp	12.0 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit

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
edgeX TSMUSDC	−0.0482%	4h	446.06	+0.074%	$48K	$215K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	445.87	+0.031%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.99	+0.059%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.08	+0.078%	$13.2M	$7.0M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.79	+0.013%	$2.0M	$423K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	445.96	+0.052%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	445.80	+0.016%	$1.7M	$923K	100x	as long as short
Bitget TSMUSDTshort	0.0000%	8h	445.90	+0.038%	$1.6M	$1.5M	20x
Variational Omni TSM	0.0000%	8h	446.07	+0.076%	$552K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	445.98	+0.056%	$5K	$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	446.03	+0.067%	$1K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.03	+0.067%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.12	−0.137%	$1.5M	$472K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.254%	$356K	$96K	10x	as long as short
BloFin TSM-USDT	+0.0027%	8h	446.13	+0.090%	$44K	$105K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	446.13	+0.090%	$226K	$601K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	445.81	+0.018%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.78	+0.011%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.77	+0.009%	$196K	$91K	10x	as long as short
SoDEX TSM-USDlong	+0.0050%	1h	445.73	long leg	$145	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	445.49	−0.054%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.60	−0.029%	$270K	$334K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.98	+0.056%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.05	+0.072%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.83	+0.022%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+0.938%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0266%	1h	446.02	+0.065%	$4	$61K	10x	as long as short
Lighter TSM	+0.0424%	1h	446.67	+0.211%	$504K	$167K	10x	as long as short