Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Vest+0.117%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.117% dearer against Vest than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest TSM-USD-PERP	442.85	0.0046	pay 0.0006% / 1h	12m 21s	—	$583	25x
Short	Variational Omni TSM	443.37	0	get 0.0000% / 8h	5h 12m	$549K	$61K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.117%Rate

Funding earned: −$9.59
Price spread: +0.117% → 0.000%: $11.71
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.12
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 52 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 Variational Omni RFQ quote, 52 min ago	2.35 bp	doesn't fit	29.8 bp −$298	doesn't fit	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	−0.0698%	4h	443.36	+0.115%	$48K	$217K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	443.47	+0.140%	$81K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.21	+0.081%	$2.0M	$390K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.27	+0.095%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.19	+0.077%	$1.7M	$960K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.39	+0.122%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSMshort	0.0000%	8h	443.37	+0.117%	$549K	$61K	—
SunX TSM-USDT	0.0000%	8h	443.42	+0.129%	$2K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.09	+0.054%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	443.62	+0.174%	$1.5M	$446K	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	443.43	+0.131%	$500K	$173K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.12	+0.061%	$221K	$645K	10x	as long as short
Binance TSMUSDT	+0.0038%	8h	443.48	+0.142%	$13.0M	$6.8M	20x	as long as short
Extended TSM-USD	+0.0040%	1h	443.36	+0.116%	$2K	$189K	10x	as long as short
Vest TSM-USD-PERPlong	+0.0046%	1h	442.85	long leg	—	$583	25x
tradeXYZ xyz:TSM	+0.0050%	1h	442.93	+0.018%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.13	+0.063%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	442.93	+0.018%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	442.84	−0.002%	$158K	$23K	10x	as long as short
BloFin TSM-USDT	+0.0055%	8h	443.59	+0.167%	$45K	$98K	20x	as long as short
GRVT TSM_USDT_Perp	+0.0078%	8h	443.47	+0.140%	$8K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	442.96	+0.025%	$268K	$319K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.36	+0.115%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.38	+0.119%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.05	+0.045%	$369K	$107K	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.28	+0.097%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	448.46	+1.267%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0856%	1h	443.46	+0.138%	$4	$24K	10x	as long as short