Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against SunX−0.094%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$281as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$2812.813% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.094%, 7d avg −0.056%

Together, before fees+0.097%+$10 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: Gate is 0.039% cheaper against SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	445.64	0	get 0.0000% / 8h	1h 35m	$1K	$5.4M	10x
Short	Gate TSM_USDT	445.22	0	get 0.0000% / 8h	1h 35m	$1.7M	$920K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.056%: −$3.87
Slippage, 4 orders: −$258.31
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$285.18
Costs to cover: 2.813%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Gate: 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, 3 min ago	44.77 bp	123.1 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.11 bp	14.1 bp −$14	38.0 bp −$380	51.3 bp −$5,130	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	−0.0093%	4h	445.54	−0.023%	$48K	$215K	10x	as long as short
BloFin TSM-USDT	−0.0020%	8h	445.66	+0.004%	$44K	$104K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	445.33	−0.069%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.54	−0.023%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.65	+0.002%	$13.1M	$6.9M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.23	−0.092%	$2.0M	$420K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	445.55	−0.020%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDTshort	0.0000%	8h	445.22	−0.094%	$1.7M	$920K	100x
Bitget TSMUSDT	0.0000%	8h	445.44	−0.045%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	445.57	−0.015%	$552K	$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	445.55	−0.019%	$15K	$1.1M	10x	as long as short
SunX TSM-USDTlong	0.0000%	8h	445.64	long leg	$1K	$5.4M	10x
HTX TSM-USDT	0.0000%	8h	445.32	−0.072%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.11	−0.119%	$1.5M	$468K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.233%	$356K	$96K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	445.66	+0.004%	$225K	$597K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	445.35	−0.065%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.25	−0.088%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.36	−0.063%	$195K	$89K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	445.27	−0.083%	$147	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.38	−0.058%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.23	−0.092%	$270K	$339K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.61	−0.007%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	445.67	+0.006%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.30	−0.076%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+0.958%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0469%	1h	445.63	−0.002%	$4	$61K	10x	as long as short
Lighter TSM	+0.0536%	1h	446.03	+0.088%	$503K	$163K	10x	as long as short