Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.014%

Price spread now: Vest against Variational Omni−0.045%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Vest

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—+ Points / potential airdropVariational Omni: Active · Vest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.045% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 3.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TSM	445.12	0	get 0.0000% / 8h	2h 12m	$551K	$85K	—
Short	Vest TSM-USD-PERP	444.92	0.0046	get 0.0006% / 1h	12m 16s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Variational Omni. 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 Variational OmnibpFee VestbpOrdersPrice spread, now −0.045%Rate

Funding earned: $9.59
Price spread: −0.045% → 0.000%: −$4.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: $3.1
Costs to cover: 0.020%
Break-even: 4.7 days

Slippage unknown: Variational Omni: RFQ quote, 12 min ago; Vest: 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 Variational Omni RFQ quote, 12 min ago	2.89 bp	doesn't fit	37.1 bp −$371	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0655%	4h	445.12	+0.001%	$48K	$216K	10x	as long as short
BloFin TSM-USDT	−0.0029%	8h	445.20	+0.018%	$44K	$105K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	445.01	−0.025%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.17	+0.011%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.18	+0.013%	$13.1M	$6.9M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.83	−0.065%	$2.0M	$419K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	445.18	+0.013%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.97	−0.034%	$1.7M	$922K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.88	−0.054%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSMlong	0.0000%	8h	445.12	long leg	$551K	$85K	—

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	445.05	−0.015%	$7K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	445.20	+0.018%	$1K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	445.23	+0.025%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.17	+0.011%	$1.5M	$465K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.60	−0.117%	$356K	$96K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	445.22	+0.022%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERPshort	+0.0046%	1h	444.92	−0.045%	—	—	25x
tradeXYZ xyz:TSM	+0.0050%	1h	444.83	−0.065%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.89	−0.052%	$188K	$82K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.84	−0.063%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.62	−0.112%	$158K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.61	−0.115%	$269K	$340K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.12	0.000%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.83	−0.065%	$125	—	10x	as long as short
Phoenix TSM	+0.0180%	1h	445.13	+0.002%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	468.41	+5.232%	$7K	$39K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0402%	1h	445.19	+0.016%	$4	$61K	10x	as long as short
Lighter TSM	+0.0664%	1h	445.89	+0.173%	$503K	$161K	10x	as long as short