Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0712%/8h= +78.0% APRpaid last 24h +0.091%

Price spread now: Deribit against SunX−0.027%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Deribit is 0.027% cheaper against SunX than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	447.49	0	get 0.0000% / 8h	7h 07m	$1K	$4.9M	10x
Short	Deribit TSM_USDC-PERPETUAL	447.37	0.0712	get 0.0089% / 1h	7m 19s	$98	$32K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $149.54
Price spread: −0.027% → 0.000%: −$2.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $131.86
Costs to cover: 0.150%
Break-even: 0.8 days

Slippage unknown: SunX: live order book, 11 min ago; Deribit: 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 SunX live order book, 11 min ago	44.79 bp	123.1 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0036%	4h	447.53	+0.010%	$48K	$216K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.95	−0.121%	$358K	$99K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	447.35	−0.031%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	447.41	−0.017%	$5K	$204K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	447.53	+0.008%	$13.2M	$6.9M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	447.16	−0.074%	$2.0M	$412K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	447.48	−0.002%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	447.22	−0.060%	$1.7M	$929K	100x	as long as short
Variational Omni TSM	0.0000%	8h	447.40	−0.020%	$554K	$82K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	447.49	long leg	$1K	$4.9M	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TSM-USDT	0.0000%	8h	447.29	−0.045%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	447.65	+0.036%	$1.5M	$455K	10x	as long as short
BloFin TSM-USDT	+0.0001%	8h	447.48	−0.002%	$45K	$101K	20x	as long as short
Bitget TSMUSDT	+0.0016%	8h	447.48	−0.002%	$1.6M	$1.4M	20x	as long as short
Lighter RH TSM	+0.0032%	1h	447.36	−0.029%	$229K	$655K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	447.16	−0.074%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	447.09	−0.089%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	447.12	−0.083%	$198K	$42K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	447.11	−0.085%	$146	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	446.98	−0.114%	$158K	$22K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0063%	8h	447.56	+0.016%	$13K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	447.17	−0.072%	$271K	$313K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	447.39	−0.022%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	447.38	−0.023%	$125	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	447.34	−0.034%	$218K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	452.09	+1.028%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0304%	1h	447.90	+0.092%	$505K	$167K	10x	as long as short
Deribit TSM_USDC-PERPETUALshort	+0.0712%	1h	447.37	−0.027%	$98	$32K	10x