Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0568%/8h= −62.2% APRpaid last 24h −0.001%

Price spread now: edgeX against Vest+0.051%7-day average — · you sell dearer than you buy

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

Long on Vest Short on edgeX

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 · edgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.051% dearer against Vest than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest TSM-USD-PERP	441.45	0.0046	pay 0.0006% / 1h	11m 31s	—	$583	25x
Short	edgeX TSMUSDC	441.68	−0.0522	pay 0.0261% / 4h	11m 31s	$48K	$217K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Vest. 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 VestbpFee edgeXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$119.2
Price spread: +0.051% → 0.000%: $5.1
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$125.09
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 45 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 Vest no order-book sample	—	—	—	—	—
Sell edgeX live order book, 45 min ago	6.11 bp	10.8 bp −$11	13.3 bp −$133	doesn't fit	doesn't fit

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
edgeX TSMUSDCshort	−0.0522%	4h	441.68	+0.051%	$48K	$217K	10x
Bitget TSMUSDT	−0.0084%	8h	441.92	+0.106%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.92	+0.107%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	441.57	+0.027%	$2.0M	$395K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.73	+0.063%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.64	+0.043%	$1.7M	$1.0M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.69	+0.055%	$547K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.86	+0.093%	$1K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.50	+0.011%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.86	+0.093%	$1.5M	$472K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	441.88	+0.097%	$498K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	441.68	+0.052%	$220K	$643K	10x	as long as short
Vest TSM-USD-PERPlong	+0.0046%	1h	441.45	long leg	—	$583	25x
BloFin TSM-USDT	+0.0048%	8h	441.66	+0.048%	$45K	$99K	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	441.42	−0.007%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	441.49	+0.009%	$194K	$53K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	441.45	0.000%	$139	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.61	+0.036%	$158K	$23K	10x	as long as short
Binance TSMUSDT	+0.0070%	8h	441.82	+0.084%	$13.0M	$7.3M	20x	as long as short
Extended TSM-USD	+0.0072%	1h	441.68	+0.052%	$6K	$195K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	441.40	−0.011%	$268K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.75	+0.068%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.72	+0.062%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0118%	8h	441.71	+0.059%	$11K	$1.2M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0120%	1h	440.79	−0.150%	$368K	$102K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0180%	1h	441.72	+0.061%	$4	$24K	10x	as long as short
Phoenix TSM	+0.0199%	1h	441.55	+0.023%	$215K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.69	+1.414%	$7K	$38K	12x	as long as short