Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Aster against Vest+0.440%7-day average — · you sell dearer than you buy

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

Long on Vest Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.440% dearer against Vest than usual: you sell high and buy low (spread +0.440% now, against zero (this spread has no 7-day history yet)): +$44 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 32 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest TSM-USD-PERP	439.39	0.0046	pay 0.0006% / 1h	38m 49s	—	$2K	25x
Short	Aster TSMUSDT	441.32	0	get 0.0000% / 8h	38m 49s	$82K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Vest. 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 VestbpFee AsterbpOrdersPrice spread, now +0.440%Rate

Funding earned: −$9.59
Price spread: +0.440% → 0.000%: $43.99
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Aster: 4 bp × 2 orders: −$8
Net: $24.4
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Aster: 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 Vest no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Vest and Aster: 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
Bitget TSMUSDT	−0.0155%	8h	439.74	+0.080%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDTshort	0.0000%	8h	441.32	+0.440%	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	439.38	−0.002%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.72	+0.075%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.64	+0.057%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.82	+0.099%	$558K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.74	+0.080%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.57	+0.041%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.78	+0.316%	$1.5M	$528K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.70	+0.071%	$496K	$188K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	439.47	+0.018%	$221K	$720K	10x	as long as short
Vest TSM-USD-PERPlong	+0.0046%	1h	439.39	long leg	—	$2K	25x
BloFin TSM-USDT	+0.0046%	8h	439.77	+0.086%	$45K	$106K	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.17	−0.050%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.54	+0.034%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.23	−0.036%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.55	+0.036%	$158K	$27K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	−0.014%	$366K	$97K	10x	as long as short
Binance TSMUSDT	+0.0063%	8h	439.80	+0.093%	$12.8M	$8.0M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	439.68	+0.066%	$8K	$186K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0070%	8h	439.78	+0.088%	$6K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.40	+0.002%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.66	+0.061%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.65	+0.059%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	439.59	+0.046%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+1.054%	$6K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0331%	4h	439.75	+0.083%	$47K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0592%	1h	439.58	+0.043%	$4	$25K	10x	as long as short