Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0379%/8h= −41.5% APRpaid last 24h +0.015%

Price spread now: edgeX against SoDEX+0.129%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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.129% dearer against SoDEX than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX TSM-USD	439.17	0.0050	pay 0.0006% / 1h	36m 49s	$135	$3K	10x
Short	edgeX TSMUSDC	439.74	−0.0329	pay 0.0165% / 4h	36m 49s	$47K	$216K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$79.67
Price spread: +0.129% → 0.000%: $12.94
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$83.73
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; edgeX: live order book, 65 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 edgeX live order book, 65 min ago	5.69 bp	10.4 bp −$10	13.1 bp −$131	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 TSMUSDCshort	−0.0329%	4h	439.74	+0.129%	$47K	$216K	10x
Bitget TSMUSDT	−0.0150%	8h	439.70	+0.121%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.22	+0.467%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.33	+0.036%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.77	+0.137%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.53	+0.082%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.82	+0.149%	$558K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.74	+0.130%	$2K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.84	+0.153%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.67	+0.342%	$1.5M	$528K	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	439.77	+0.137%	$496K	$188K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.44	+0.061%	$221K	$720K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.30	+0.030%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.21	+0.009%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.50	+0.075%	$190K	$68K	10x	as long as short
SoDEX TSM-USDlong	+0.0050%	1h	439.17	long leg	$135	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	439.55	+0.087%	$158K	$27K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	+0.036%	$366K	$97K	10x	as long as short
Binance TSMUSDT	+0.0063%	8h	439.75	+0.133%	$12.8M	$8.0M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	439.63	+0.105%	$4K	$189K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0072%	8h	439.71	+0.123%	$6K	$1.3M	10x	as long as short
BloFin TSM-USDT	+0.0082%	8h	439.90	+0.166%	$45K	$106K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.37	+0.046%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.69	+0.118%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.67	+0.113%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	439.52	+0.080%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+1.104%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0683%	1h	439.66	+0.112%	$4	$25K	10x	as long as short