Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.001%

Price spread now: HTX against Coinbase International+0.108%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on HTX

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

The price spread pays, funding is against you. HTX is 0.108% dearer against Coinbase International than usual: you sell high and buy low (spread +0.108% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TSM-PERP-INTX	443.28	0.0152	pay 0.0019% / 1h	50m 12s	$370K	$107K	10x
Short	HTX TSM-USDT	443.76	0	get 0.0000% / 8h	5h 50m	$9K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Coinbase International. 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 Coinbase InternationalbpFee HTXbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$31.92
Price spread: +0.108% → 0.000%: $10.83
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$43.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 13 min ago; HTX: 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 Coinbase International live order book, 13 min ago	3.95 bp	8.9 bp −$9	12.0 bp −$120	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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 27 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	−0.0267%	4h	443.83	+0.124%	$48K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	443.98	+0.158%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.56	+0.063%	$2.0M	$391K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.79	+0.115%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.64	+0.081%	$1.7M	$945K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.84	+0.126%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.88	+0.135%	$550K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.90	+0.140%	$2K	$4.4M	10x	as long as short
HTX TSM-USDTshort	0.0000%	8h	443.76	+0.108%	$9K	$9K	20x
Phemex TSMUSDT	0.0000%	8h	443.92	+0.144%	$1.5M	$441K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	444.05	+0.174%	$501K	$173K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.74	+0.104%	$222K	$644K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.56	+0.063%	—	$583	25x	as long as short
Extended TSM-USD	+0.0048%	1h	443.67	+0.089%	$1K	$197K	10x	as long as short
Binance TSMUSDT	+0.0049%	8h	443.82	+0.122%	$13.0M	$6.8M	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.40	+0.027%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.59	+0.070%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.35	+0.016%	$137	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.41	+0.029%	$160K	$23K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.31	+0.007%	$269K	$320K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.82	+0.122%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.77	+0.112%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTXlong	+0.0152%	1h	443.28	long leg	$370K	$107K	10x
GRVT TSM_USDT_Perp	+0.0202%	8h	443.99	+0.160%	$8K	$1.1M	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.77	+0.111%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.81	+1.022%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0224%	1h	443.69	+0.092%	$4	$24K	10x	as long as short