Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.015%

Price spread now: Orderly against Ondo Perps−0.032%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Orderly

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 airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.032% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps TSM-USD.P	444.42	0.0050	pay 0.0006% / 1h	34m 33s	$160K	$25K	10x
Short	Orderly PERP_TSM_USDC_mythos	444.28	0.0100	get 0.0100% / 8h	6h 34m	$21	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Ondo Perps. 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 Ondo PerpsbpFee OrderlybpOrdersPrice spread, now −0.032%Rate

Funding earned: $10.42
Price spread: −0.032% → 0.000%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.73
Costs to cover: 0.110%
Break-even: 9.5 days

Slippage unknown: Ondo Perps: no order-book sample; Orderly: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Ondo Perps and Orderly: 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
Aster TSMUSDT	0.0000%	8h	444.39	−0.007%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.93	−0.110%	$2.0M	$402K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.40	−0.005%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.18	−0.054%	$1.7M	$935K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.50	+0.018%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.77	+0.079%	$551K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.38	−0.009%	$1K	$4.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.60	+0.041%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.41	−0.002%	$1.5M	$453K	10x	as long as short
Binance TSMUSDT	+0.0007%	8h	444.39	−0.006%	$13.0M	$7.0M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TSM-USD	+0.0008%	1h	444.44	+0.005%	$5K	$196K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.22	−0.045%	$366K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0017%	8h	445.69	+0.286%	$45K	$99K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	444.37	−0.011%	$222K	$630K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.98	−0.099%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.58	−0.189%	$10.2M	$2.3M	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.09	−0.074%	$142	$3K	10x	as long as short
Ondo Perps TSM-USD.Plong	+0.0050%	1h	444.42	long leg	$160K	$25K	10x
Polymarket Perps TSM-USD	+0.0053%	1h	444.14	−0.063%	$197K	$48K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0066%	8h	444.89	+0.106%	$17K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.90	−0.117%	$269K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythosshort	+0.0100%	8h	444.28	−0.032%	$21	—	10x
Aevo TSM-PERP	+0.0104%	1h	444.21	−0.046%	$124	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.44	+0.005%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.67	+1.406%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0416%	1h	444.97	+0.124%	$502K	$170K	10x	as long as short
edgeX TSMUSDC	+0.0704%	4h	444.76	+0.076%	$48K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0787%	1h	444.19	−0.052%	$4	$23K	10x	as long as short