Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.016%

Price spread now: Aster against edgeX−0.072%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: Active · Aster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.072% cheaper against edgeX than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.9 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	edgeX TSMUSDC	444.87	−0.0082	get 0.0041% / 4h	3h 31m	$48K	$215K	10x
Short	Aster TSMUSDT	444.55	0	get 0.0000% / 8h	3h 31m	$82K	$1K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against edgeX. 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 edgeXbpFee AsterbpOrdersPrice spread, now −0.072%Rate

Funding earned: $17.23
Price spread: −0.072% → 0.000%: −$7.24
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$7
Costs to cover: 0.170%
Break-even: 9.8 days

Slippage unknown: edgeX: live order book, 16 min ago; Aster: 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 edgeX live order book, 16 min ago	6.07 bp	10.8 bp −$11	13.4 bp −$134	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 TSMUSDClong	−0.0082%	4h	444.87	long leg	$48K	$215K	10x
Coinbase International TSM-PERP-INTX	−0.0056%	1h	444.10	−0.173%	$358K	$93K	10x	as long as short
BloFin TSM-USDT	−0.0005%	8h	444.91	+0.010%	$45K	$104K	20x	as long as short
Aster TSMUSDTshort	0.0000%	8h	444.55	−0.072%	$82K	$1K	20x
Extended TSM-USD	0.0000%	1h	444.79	−0.017%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	444.82	−0.011%	$13.1M	$6.8M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.56	−0.069%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.87	+0.001%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.62	−0.056%	$1.7M	$914K	100x	as long as short
Variational Omni TSM	0.0000%	8h	444.69	−0.041%	$551K	$85K	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TSM_USDT_Perp	0.0000%	8h	444.83	−0.008%	$11K	$978K	10x	as long as short
SunX TSM-USDT	0.0000%	8h	444.81	−0.013%	$1K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.52	−0.078%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.94	+0.016%	$1.5M	$460K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	444.96	+0.021%	$206K	$651K	10x	as long as short
Bitget TSMUSDT	+0.0038%	8h	444.56	−0.069%	$1.6M	$1.5M	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.48	−0.087%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	444.40	−0.105%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.64	−0.051%	$188K	$82K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.39	−0.107%	$143	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.24	−0.141%	$159K	$19K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.43	−0.098%	$272K	$332K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.88	+0.003%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.47	−0.090%	$124	—	10x	as long as short
Phoenix TSM	+0.0180%	1h	444.42	−0.101%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.30	+1.221%	$7K	$39K	12x	as long as short
Lighter TSM	+0.0248%	1h	445.19	+0.072%	$502K	$159K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0560%	1h	444.85	−0.004%	$98	$61K	10x	as long as short