Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.039%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.039%, 7d avg −0.017%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.021% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TSM-USDT-SWAP	439.58	0	get 0.0000% / 8h	1h 41m	$4.0M	$2.6M	20x
Short	Gate TSM_USDT	439.41	0	get 0.0000% / 8h	1h 41m	$1.7M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.017%: −$2.14
Slippage, 4 orders: −$21.82
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.96
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Gate: live order book, 1 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 OKX live order book, 1 min ago	0.91 bp	10.1 bp −$10	26.4 bp −$264	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.62 bp	13.4 bp −$13	36.4 bp −$364	52.8 bp −$5,275	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
Bitget TSMUSDT	−0.0209%	8h	439.69	+0.025%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	439.58	+0.001%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.39	−0.043%	$2.0M	$396K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	439.58	long leg	$4.0M	$2.6M	20x
Gate TSM_USDTshort	0.0000%	8h	439.41	−0.039%	$1.7M	$1.1M	100x
Variational Omni TSM	0.0000%	8h	439.56	−0.005%	$557K	$36K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.54	−0.009%	$2K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.22	−0.082%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.74	+0.264%	$1.5M	$514K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.67	+0.020%	$495K	$137K	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 TSM	+0.0032%	1h	439.47	−0.025%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.25	−0.075%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.057%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.12	−0.105%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.35	−0.052%	$192K	$63K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.12	−0.105%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.12	−0.105%	$157K	$27K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	439.47	−0.024%	$3K	$181K	10x	as long as short
Binance TSMUSDT	+0.0067%	8h	439.57	−0.002%	$12.9M	$7.8M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0073%	8h	439.60	+0.005%	$4K	$1.3M	10x	as long as short
BloFin TSM-USDT	+0.0077%	8h	439.74	+0.036%	$45K	$105K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.28	−0.068%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.54	−0.009%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.57	−0.001%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.43	−0.034%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.69	+1.162%	$6K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0243%	4h	439.65	+0.015%	$47K	$217K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0501%	1h	439.47	−0.025%	$4	$25K	10x	as long as short