Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1000%/8h= −109.5% APRpaid last 24h +0.030%

Price spread now: edgeX against Aevo+0.125%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on edgeX

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 airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.125% dearer against Aevo than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TSM-PERP	444.73	0.0104	pay 0.0013% / 1h	39m 06s	$125	—	10x
Short	edgeX TSMUSDC	445.28	−0.0896	pay 0.0448% / 4h	2h 39m	$48K	$215K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aevo. 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 AevobpFee edgeXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$210.02
Price spread: +0.125% → 0.000%: $12.47
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$222.55
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 28 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 Aevo no order-book sample	—	—	—	—	—
Sell edgeX live order book, 28 min ago	5.36 bp	10.0 bp −$10	12.7 bp −$127	doesn't fit	doesn't fit

Aevo: 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	−0.0896%	4h	445.28	+0.125%	$48K	$215K	10x
Aster TSMUSDT	0.0000%	8h	444.75	+0.004%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	444.61	−0.026%	$5K	$198K	10x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.45	−0.063%	$2.0M	$401K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.67	−0.013%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.55	−0.040%	$1.7M	$914K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.78	+0.012%	$1.6M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.96	+0.051%	$551K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.74	+0.003%	$1K	$4.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.87	+0.032%	$9K	$9K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	444.76	+0.007%	$1.5M	$453K	10x	as long as short
Binance TSMUSDT	+0.0001%	8h	444.73	0.000%	$13.1M	$6.9M	20x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	445.16	+0.097%	$367K	$104K	10x	as long as short
BloFin TSM-USDT	+0.0017%	8h	445.69	+0.216%	$45K	$99K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	444.69	−0.009%	$222K	$630K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.41	−0.072%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	444.32	−0.092%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.58	−0.033%	$200K	$45K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.30	−0.096%	$142	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.59	−0.031%	$160K	$25K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0056%	8h	444.86	+0.030%	$17K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.37	−0.081%	$269K	$317K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.67	−0.013%	$21	—	10x	as long as short
Aevo TSM-PERPlong	+0.0104%	1h	444.73	long leg	$125	—	10x
Phoenix TSM	+0.0179%	1h	444.61	−0.027%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.67	+1.336%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0424%	1h	445.20	+0.106%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0741%	1h	444.63	−0.022%	$4	$23K	10x	as long as short