Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.010%

Price spread now: BloFin against tradeXYZ+0.105%48s7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.463% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)−0.243%−$24 · spread now +0.105%, 7d avg +0.104%

Together, before fees−0.306%+ Points / potential airdroptradeXYZ: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.104%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.063%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:TSM	439.39	0.0050	pay 0.0006% / 1h	54m 16s	$10.1M	$2.0M	10x
Short	BloFin TSM-USDT	439.85	0.0063	get 0.0063% / 8h	6h 54m	$45K	$111K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.105%Rate

Funding earned: $2.73
Price spread: +0.105% → +0.104%: $0.11
Slippage, 4 orders: −$16.34
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$43.5
Costs to cover: 0.463%
Break-even: 118.7 days

Slippage from tradeXYZ: live order book, 4 min ago; BloFin: live order book, 61 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 tradeXYZ live order book, 4 min ago	0.68 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 61 min ago	0.91 bp	10.7 bp −$11	18.5 bp −$185	doesn't fit	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	−0.0060%	4h	439.99	+0.136%	$47K	$216K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0016%	1h	439.24	−0.034%	$371K	$98K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	439.88	+0.111%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.55	+0.036%	$2.0M	$401K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.66	+0.061%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.63	+0.055%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	439.85	+0.105%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	440.01	+0.141%	$551K	$44K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.71	+0.073%	$1K	$3.9M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.08	+0.157%	$9K	$8K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	439.94	+0.125%	$1.5M	$543K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.74	+0.080%	$495K	$143K	10x	as long as short
Extended TSM-USD	+0.0032%	1h	439.71	+0.073%	$1K	$214K	10x	as long as short
Binance TSMUSDT	+0.0035%	8h	439.81	+0.096%	$12.9M	$8.3M	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.31	−0.018%	—	$2K	25x	as long as short
tradeXYZ xyz:TSMlong	+0.0050%	1h	439.39	long leg	$10.1M	$2.0M	10x
Polymarket Perps TSM-USD	+0.0050%	1h	439.40	+0.002%	$190K	$67K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.32	−0.016%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.93	+0.123%	$158K	$27K	10x	as long as short
Lighter RH TSM	+0.0056%	1h	439.74	+0.080%	$196K	$724K	10x	as long as short
BloFin TSM-USDTshort	+0.0063%	8h	439.85	+0.105%	$45K	$111K	20x
KuCoin TSMUSDTM	+0.0100%	8h	439.43	+0.009%	$266K	$376K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.80	+0.093%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.75	+0.081%	$123	—	10x	as long as short
Phoenix TSM	+0.0145%	1h	439.83	+0.100%	$209K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+1.038%	$6K	$38K	12x	as long as short
GRVT TSM_USDT_Perp	+0.0279%	8h	439.98	+0.133%	$12K	$1.3M	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0638%	1h	439.70	+0.071%	$4	$13K	10x	as long as short