Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0342%/8h= +37.5% APRpaid last 24h +0.096%

Price spread now: Deribit against Binance−0.042%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 Deribit

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. Deribit is 0.042% cheaper against Binance than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TSMUSDT	440.63	0.0067	pay 0.0067% / 8h	3h 17m	$12.9M	$7.5M	20x
Short	Deribit TSM_USDC-PERPETUAL	440.45	0.0409	get 0.0051% / 1h	17m 33s	$4	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: $71.85
Price spread: −0.042% → 0.000%: −$4.16
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $50.69
Costs to cover: 0.170%
Break-even: 2.1 days

Slippage unknown: Binance: live order book, 8 min ago; Deribit: 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	0.34 bp	9.5 bp −$9	24.9 bp −$249	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0206%	8h	440.58	−0.012%	$1.8M	$1.5M	20x	as long as short
edgeX TSMUSDC	−0.0059%	4h	440.93	+0.067%	$47K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	440.58	−0.013%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.47	−0.037%	$2.0M	$388K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.55	−0.019%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.33	−0.069%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.96	+0.074%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.63	−0.001%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.01	+0.085%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.61	−0.005%	$1.5M	$486K	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	440.67	+0.008%	$496K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	440.51	−0.028%	$219K	$675K	10x	as long as short
BloFin TSM-USDT	+0.0045%	8h	440.58	−0.012%	$45K	$100K	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.20	−0.098%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.19	−0.101%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.32	−0.071%	$192K	$60K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.17	−0.105%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.97	−0.151%	$157K	$23K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	440.52	−0.026%	$4K	$194K	10x	as long as short
Binance TSMUSDTlong	+0.0067%	8h	440.63	long leg	$12.9M	$7.5M	20x
GRVT TSM_USDT_Perp	+0.0081%	8h	440.78	+0.034%	$8K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.137%	$367K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.22	−0.094%	$267K	$312K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.46	−0.039%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.55	−0.020%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.93	+0.067%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.45	+1.093%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUALshort	+0.0409%	1h	440.45	−0.042%	$4	$24K	10x