Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.022%

Price spread now: Aster against Lighter RH+0.029%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

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

Together, before fees—+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.029% dearer against Lighter RH than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH TSM	439.63	0.0032	pay 0.0004% / 1h	24m 46s	$219K	$681K	10x
Short	Aster TSMUSDT	439.76	0	get 0.0000% / 8h	2h 24m	$82K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$6.72
Price spread: +0.029% → 0.000%: $2.93
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$11.79
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 23 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 Lighter RH live order book, 23 min ago	2.27 bp	2.7 bp −$3	16.7 bp −$167	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
Bitget TSMUSDT	−0.0245%	8h	439.80	+0.039%	$1.7M	$1.6M	20x	as long as short
Aster TSMUSDTshort	0.0000%	8h	439.76	+0.029%	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	439.44	−0.043%	$2.0M	$399K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.70	+0.016%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.58	−0.011%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.55	−0.018%	$551K	$30K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.88	+0.057%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.46	−0.039%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.09	+0.332%	$1.5M	$506K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.76	+0.030%	$495K	$138K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSMlong	+0.0032%	1h	439.63	long leg	$219K	$681K	10x
Vest TSM-USD-PERP	+0.0046%	1h	439.36	−0.061%	—	$1K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.35	−0.064%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.39	−0.055%	$192K	$63K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.25	−0.086%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.61	−0.005%	$158K	$26K	10x	as long as short
Binance TSMUSDT	+0.0054%	8h	439.81	+0.041%	$12.8M	$7.7M	20x	as long as short
Extended TSM-USD	+0.0056%	1h	439.69	+0.013%	$6K	$181K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0058%	8h	439.81	+0.041%	$8K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0072%	1h	439.33	−0.068%	$366K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0077%	8h	439.93	+0.068%	$45K	$103K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.34	−0.066%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.67	+0.009%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.54	−0.021%	$123	—	10x	as long as short
Phoenix TSM	+0.0163%	1h	439.44	−0.043%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.65	+1.142%	$6K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0467%	4h	439.42	−0.049%	$47K	$215K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0524%	1h	439.63	0.000%	$4	$24K	10x	as long as short