Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.001%

Price spread now: Bitget against Vest+0.061%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 Bitget

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 airdropVest: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bitget is 0.061% dearer against Vest than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest TSM-USD-PERP	443.66	0.0046	pay 0.0006% / 1h	33m 42s	—	$583	25x
Short	Bitget TSMUSDT	443.93	0	get 0.0000% / 8h	5h 33m	$1.7M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$9.59
Price spread: +0.061% → 0.000%: $6.09
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$17.51
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bitget: live order book, 3 min ago. 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 Bitget live order book, 3 min ago	3.60 bp	10.0 bp −$10	23.2 bp −$232	63.8 bp −$6,383	doesn't fit

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	−0.0891%	4h	443.82	+0.037%	$48K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	444.08	+0.095%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.84	+0.041%	$2.0M	$392K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.85	+0.043%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.71	+0.011%	$1.7M	$955K	100x	as long as short
Bitget TSMUSDTshort	0.0000%	8h	443.93	+0.061%	$1.7M	$1.4M	20x
Variational Omni TSM	0.0000%	8h	443.95	+0.065%	$550K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.92	+0.059%	$1K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.00	+0.077%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.07	+0.092%	$1.5M	$443K	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	444.20	+0.122%	$501K	$173K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.94	+0.063%	$221K	$644K	10x	as long as short
BloFin TSM-USDT	+0.0035%	8h	443.99	+0.074%	$45K	$98K	20x	as long as short
Vest TSM-USD-PERPlong	+0.0046%	1h	443.66	long leg	—	$583	25x
Extended TSM-USD	+0.0048%	1h	443.84	+0.040%	$1K	$191K	10x	as long as short
Binance TSMUSDT	+0.0049%	8h	444.01	+0.079%	$13.0M	$6.8M	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.64	−0.005%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.50	−0.036%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.50	−0.036%	$137	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.66	0.000%	$159K	$23K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.45	−0.047%	$270K	$320K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.84	+0.041%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.86	+0.046%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.28	−0.086%	$370K	$107K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0156%	1h	443.81	+0.034%	$98	$24K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0160%	8h	443.87	+0.047%	$8K	$1.1M	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.67	+0.002%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	448.49	+1.089%	$7K	$38K	12x	as long as short