Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against SunX−0.116%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 SoDEX

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

Funding pays, the price is against you. SoDEX is 0.116% cheaper against SunX than usual: you would sell low and buy high (spread −0.116% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 7.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	440.85	0	get 0.0000% / 8h	3h 23m	$1K	$4.3M	10x
Short	SoDEX TSM-USD	440.34	0.0050	get 0.0006% / 1h	23m 25s	$140	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.116%Rate

Funding earned: $10.5
Price spread: −0.116% → 0.000%: −$11.57
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$17.07
Costs to cover: 0.160%
Break-even: 18.4 days

Slippage unknown: SunX: live order book, 5 min ago; SoDEX: 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, 5 min ago	44.87 bp	123.1 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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	−0.0782%	4h	441.17	+0.072%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0202%	8h	441.03	+0.041%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.86	+0.002%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.62	−0.052%	$2.0M	$388K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.71	−0.032%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.57	−0.064%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.93	+0.018%	$546K	$40K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	440.85	long leg	$1K	$4.3M	10x
HTX TSM-USDT	0.0000%	8h	440.48	−0.084%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.81	−0.009%	$1.5M	$484K	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	440.87	+0.005%	$496K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	440.70	−0.034%	$223K	$671K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.46	−0.088%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.48	−0.084%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.50	−0.079%	$192K	$60K	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	440.34	−0.116%	$140	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	440.01	−0.191%	$158K	$23K	10x	as long as short
Binance TSMUSDT	+0.0068%	8h	440.75	−0.023%	$12.9M	$7.5M	20x	as long as short
Extended TSM-USD	+0.0072%	1h	440.60	−0.057%	$2K	$195K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.186%	$367K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0091%	8h	440.81	−0.009%	$45K	$100K	20x	as long as short
GRVT TSM_USDT_Perp	+0.0092%	8h	440.87	+0.005%	$8K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.41	−0.100%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.60	−0.057%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.65	−0.046%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.73	−0.027%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.74	+1.109%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0454%	1h	440.65	−0.045%	$4	$24K	10x	as long as short