Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.016%

Price spread now: Vest against Orderly+0.007%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TSM_USDC_mythos	447.48	0.0100	pay 0.0100% / 8h	7h 45m	$21	—	10x
Short	Vest TSM-USD-PERP	447.51	0.0046	get 0.0006% / 1h	45m 53s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Orderly. 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 OrderlybpFee VestbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$11.41
Price spread: +0.007% → 0.000%: $0.67
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Vest: 1 bp × 2 orders: −$2
Net: −$18.74
Costs to cover: 0.080%
Break-even: never at this rate

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

Orderly and Vest: 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	−0.0024%	1h	446.95	−0.118%	$358K	$103K	10x	as long as short
BloFin TSM-USDT	−0.0009%	8h	447.75	+0.060%	$44K	$102K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	447.54	+0.013%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	447.46	−0.005%	$4K	$169K	10x	as long as short
Bybit TSMUSDT	0.0000%	8h	447.36	−0.027%	$2.0M	$409K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	447.65	+0.038%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	447.26	−0.049%	$1.7M	$900K	100x	as long as short
Variational Omni TSM	0.0000%	8h	447.57	+0.019%	$555K	$84K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	447.46	−0.004%	$9K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	447.56	+0.018%	$2K	$5.0M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TSM_USDC-PERPETUAL	0.0000%	1h	447.58	+0.022%	$4	$32K	10x	as long as short
HTX TSM-USDT	0.0000%	8h	447.55	+0.016%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	447.57	+0.020%	$1.5M	$452K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	447.52	+0.009%	$13.2M	$6.9M	20x	as long as short
Bitget TSMUSDT	+0.0006%	8h	447.45	−0.007%	$1.6M	$1.4M	20x	as long as short
Lighter RH TSM	+0.0032%	1h	447.60	+0.027%	$232K	$635K	10x	as long as short
Vest TSM-USD-PERPshort	+0.0046%	1h	447.51	+0.007%	—	—	25x
tradeXYZ xyz:TSM	+0.0050%	1h	447.35	−0.029%	$10.3M	$2.4M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	447.33	−0.034%	$197K	$41K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	447.17	−0.069%	$143	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	447.13	−0.078%	$158K	$20K	10x	as long as short
Lighter TSM	+0.0088%	1h	448.09	+0.136%	$506K	$166K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	447.13	−0.078%	$272K	$313K	20x	as long as short
Orderly PERP_TSM_USDC_mythoslong	+0.0100%	8h	447.48	long leg	$21	—	10x
Aevo TSM-PERP	+0.0104%	1h	447.57	+0.021%	$125	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	447.42	−0.013%	$218K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	451.76	+0.956%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0972%	4h	447.65	+0.037%	$48K	$216K	10x	as long as short