Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.020%

Price spread now: Lighter RH against HTX−0.052%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Lighter RH

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—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.052% cheaper against HTX than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 40 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TSM-USDT	440.08	0	get 0.0000% / 8h	6h 56m	$9K	$8K	20x
Short	Lighter RH TSM	439.85	0.0104	get 0.0013% / 1h	56m 07s	$196K	$724K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against HTX. 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 HTXbpFee Lighter RHbpOrdersPrice spread, now −0.052%Rate

Funding earned: $21.84
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $4.61
Costs to cover: 0.120%
Break-even: 5.5 days

Slippage unknown: HTX: no order-book sample; Lighter RH: live order book, 36 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 36 min ago	1.49 bp	2.0 bp −$2	10.7 bp −$107	doesn't fit	doesn't fit

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 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
Coinbase International TSM-PERP-INTX	−0.0016%	1h	439.24	−0.191%	$371K	$98K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	439.89	−0.042%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.71	−0.084%	$2.0M	$401K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.98	−0.023%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.82	−0.059%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	440.03	−0.011%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	440.05	−0.006%	$551K	$44K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.09	+0.002%	$1K	$3.9M	10x	as long as short
HTX TSM-USDTlong	0.0000%	8h	440.08	long leg	$9K	$8K	20x
Phemex TSMUSDT	0.0000%	8h	439.61	−0.107%	$1.5M	$542K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TSMUSDT	+0.0032%	8h	440.00	−0.018%	$12.9M	$8.3M	20x	as long as short
Lighter TSM	+0.0032%	1h	439.82	−0.059%	$495K	$143K	10x	as long as short
Extended TSM-USD	+0.0032%	1h	439.95	−0.029%	$1K	$214K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.55	−0.120%	—	$2K	25x	as long as short
BloFin TSM-USDT	+0.0049%	8h	440.17	+0.020%	$45K	$111K	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.49	−0.134%	$10.1M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.68	−0.091%	$190K	$67K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.53	−0.125%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.93	−0.034%	$158K	$27K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.54	−0.123%	$267K	$374K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.93	−0.034%	$21	—	10x	as long as short
Lighter RH TSMshort	+0.0104%	1h	439.85	−0.052%	$196K	$724K	10x
Aevo TSM-PERP	+0.0104%	1h	439.95	−0.030%	$123	—	10x	as long as short
Phoenix TSM	+0.0145%	1h	439.86	−0.050%	$209K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+0.879%	$6K	$38K	12x	as long as short
GRVT TSM_USDT_Perp	+0.0238%	8h	439.96	−0.027%	$12K	$1.3M	10x	as long as short
edgeX TSMUSDC	+0.0568%	4h	440.17	+0.021%	$47K	$215K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.1002%	1h	439.97	−0.025%	$4	$13K	10x	as long as short