Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Aster−0.099%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.099% cheaper against Aster than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 6.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	439.09	0	get 0.0000% / 8h	50m 26s	$82K	$2K	20x
Short	Ondo Perps TSM-USD.P	438.66	0.0050	get 0.0006% / 1h	50m 26s	$158K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Aster. 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 AsterbpFee Ondo PerpsbpOrdersPrice spread, now −0.099%Rate

Funding earned: $10.58
Price spread: −0.099% → 0.000%: −$9.88
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$12.3
Costs to cover: 0.130%
Break-even: 15.1 days

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

Aster and Ondo Perps: 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	−0.0727%	4h	439.57	+0.109%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0165%	8h	439.40	+0.070%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDTlong	0.0000%	8h	439.09	long leg	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	439.00	−0.021%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.32	+0.051%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.05	−0.010%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.35	+0.058%	$558K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.44	+0.079%	$2K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.43	+0.077%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.43	+0.304%	$1.5M	$525K	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	439.21	+0.026%	$495K	$185K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	438.88	−0.049%	$221K	$720K	10x	as long as short
tradeXYZ xyz:TSM	+0.0036%	1h	438.77	−0.074%	$10.1M	$1.8M	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	438.84	−0.058%	—	$2K	25x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	438.98	−0.026%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.05	−0.010%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.Pshort	+0.0050%	1h	438.66	−0.099%	$158K	$27K	10x
BloFin TSM-USDT	+0.0055%	8h	439.50	+0.092%	$45K	$106K	20x	as long as short
Extended TSM-USD	+0.0056%	1h	439.11	+0.004%	$2K	$149K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	+0.054%	$366K	$99K	10x	as long as short
Binance TSMUSDT	+0.0057%	8h	439.22	+0.029%	$12.8M	$8.0M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0065%	8h	439.68	+0.134%	$6K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	438.88	−0.049%	$267K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.21	+0.026%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.40	+0.070%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	439.40	+0.070%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+1.122%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0456%	1h	439.27	+0.040%	$4	$25K	10x	as long as short