Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.025%

Price spread now: Aevo against Binance−0.021%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.021% cheaper against Binance than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 36 hours of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TSMUSDT	441.13	0.0058	pay 0.0058% / 8h	2h 47m	$12.9M	$7.6M	20x
Short	Aevo TSM-PERP	441.04	0.0104	get 0.0013% / 1h	47m 03s	$123	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Binance. 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 BinancebpFee AevobpOrdersPrice spread, now −0.021%Rate

Funding earned: $9.65
Price spread: −0.021% → 0.000%: −$2.06
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$18.41
Costs to cover: 0.260%
Break-even: 20.4 days

Slippage unknown: Binance: live order book, 8 min ago; Aevo: 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 Binance live order book, 8 min ago	0.91 bp	9.6 bp −$10	22.8 bp −$228	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.0175%	8h	441.02	−0.025%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.02	−0.025%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.84	−0.066%	$2.0M	$396K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.04	−0.020%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.95	−0.041%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.03	−0.023%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.06	−0.016%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.78	+0.147%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.24	+0.025%	$1.5M	$495K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.03	−0.023%	$497K	$137K	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	441.04	−0.020%	$220K	$679K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.72	−0.093%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.80	−0.075%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.87	−0.059%	$192K	$63K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.71	−0.095%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.83	−0.068%	$157K	$23K	10x	as long as short
BloFin TSM-USDT	+0.0053%	8h	441.07	−0.014%	$45K	$102K	20x	as long as short
Extended TSM-USD	+0.0056%	1h	441.00	−0.030%	$6K	$196K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0058%	8h	440.97	−0.036%	$9K	$1.3M	10x	as long as short
Binance TSMUSDTlong	+0.0058%	8h	441.13	long leg	$12.9M	$7.6M	20x
Coinbase International TSM-PERP-INTX	+0.0072%	1h	440.03	−0.249%	$367K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.65	−0.109%	$267K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.06	−0.016%	$21	—	10x	as long as short
Aevo TSM-PERPshort	+0.0104%	1h	441.04	−0.021%	$123	—	10x
Phoenix TSM	+0.0163%	1h	441.03	−0.023%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.50	+0.991%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0385%	1h	441.09	−0.009%	$97	$24K	10x	as long as short
edgeX TSMUSDC	+0.0439%	4h	440.98	−0.034%	$48K	$217K	10x	as long as short