Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0049%/8hnext payment −$0.49 per $10,000 · paid last 24h −0.013%

Price spread now: SunX against Bitget−0.025%50s7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$282as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2762.756% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.025%, 7d avg −0.022%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TSMUSDT	444.91	0.0049	pay 0.0049% / 8h	4h 04m	$1.6M	$1.5M	20x
Short	SunX TSM-USDT	444.80	0	get 0.0000% / 8h	4h 04m	$1K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bitget. 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 BitgetbpFee SunXbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$10.29
Price spread: −0.025% → −0.022%: −$0.29
Slippage, 4 orders: −$255.64
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$286.21
Costs to cover: 2.756%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; SunX: live order book, 8 min ago.

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 Bitget live order book, 2 min ago	2.02 bp	12.9 bp −$13	25.7 bp −$257	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	45.06 bp	127.2 bp −$127	doesn't fit	doesn't fit	doesn't fit

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	−0.0226%	4h	444.85	−0.014%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0040%	1h	444.71	−0.045%	$358K	$89K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	444.92	+0.003%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	444.95	+0.010%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.11	+0.045%	$13.1M	$6.6M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.83	−0.018%	$2.0M	$380K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.99	+0.018%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.80	−0.025%	$1.7M	$889K	100x	as long as short
Variational Omni TSM	0.0000%	8h	444.88	−0.006%	$556K	$81K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	444.97	+0.013%	$14K	$932K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TSM-USDTshort	0.0000%	8h	444.80	−0.025%	$1K	$5.3M	10x
HTX TSM-USDT	0.0000%	8h	444.55	−0.081%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.77	−0.031%	$1.5M	$444K	10x	as long as short
BloFin TSM-USDT	+0.0026%	8h	444.81	−0.022%	$45K	$101K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	445.07	+0.036%	$206K	$672K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.82	−0.020%	—	—	25x	as long as short
Bitget TSMUSDTlong	+0.0049%	8h	444.91	long leg	$1.6M	$1.5M	20x
tradeXYZ xyz:TSM	+0.0050%	1h	444.80	−0.025%	$10.3M	$2.4M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.83	−0.018%	$188K	$82K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.56	−0.079%	$152	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.42	−0.110%	$158K	$18K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.67	−0.054%	$273K	$326K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.13	+0.049%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.93	+0.004%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	444.59	−0.072%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.07	+1.160%	$7K	$39K	12x	as long as short
Lighter TSM	+0.0368%	1h	445.95	+0.234%	$504K	$159K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0447%	1h	444.84	−0.016%	$4	$61K	10x	as long as short