Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against SunX+0.054%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$268as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2732.726% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.054%, 7d avg +0.022%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.032% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	442.18	0	get 0.0000% / 8h	4h 50m	$2K	$4.3M	10x
Short	Bitget TSMUSDT	442.42	0	get 0.0000% / 8h	4h 50m	$1.7M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now +0.054%Rate

Funding earned: $0
Price spread: +0.054% → +0.022%: $3.25
Slippage, 4 orders: −$252.59
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$269.34
Costs to cover: 2.726%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Bitget: live order book, 2 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 SunX live order book, 8 min ago	44.74 bp	123.2 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	3.50 bp	11.4 bp −$11	18.4 bp −$184	44.9 bp −$4,486	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
Aster TSMUSDT	0.0000%	8h	442.39	+0.048%	$81K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	441.92	−0.059%	$2.0M	$390K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	442.09	−0.020%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.93	−0.057%	$1.7M	$965K	100x	as long as short
Bitget TSMUSDTshort	0.0000%	8h	442.42	+0.054%	$1.7M	$1.4M	20x
Variational Omni TSM	0.0000%	8h	442.25	+0.016%	$548K	$61K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	442.18	long leg	$2K	$4.3M	10x
HTX TSM-USDT	0.0000%	8h	442.41	+0.052%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	442.64	+0.104%	$1.5M	$455K	10x	as long as short
Lighter TSM	+0.0032%	1h	442.18	0.000%	$499K	$174K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	442.04	−0.032%	$220K	$642K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	441.80	−0.086%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	441.64	−0.122%	$10.2M	$2.3M	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	441.81	−0.084%	$133	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.97	−0.047%	$158K	$23K	10x	as long as short
Extended TSM-USD	+0.0056%	1h	441.97	−0.046%	$3K	$192K	10x	as long as short
BloFin TSM-USDT	+0.0057%	8h	442.32	+0.032%	$45K	$98K	20x	as long as short
Binance TSMUSDT	+0.0059%	8h	442.12	−0.014%	$13.0M	$6.9M	20x	as long as short
Polymarket Perps TSM-USD	+0.0063%	1h	442.00	−0.041%	$194K	$52K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	441.83	−0.079%	$268K	$317K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	442.02	−0.036%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	442.00	−0.040%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0117%	8h	442.61	+0.097%	$6K	$1.2M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0120%	1h	441.85	−0.075%	$368K	$108K	10x	as long as short
Phoenix TSM	+0.0199%	1h	442.35	+0.038%	$215K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.69	+1.246%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0464%	4h	442.48	+0.068%	$48K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0542%	1h	442.03	−0.034%	$4	$24K	10x	as long as short