Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: HTX against Aevo+0.037%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 HTX

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—needs both histories

The price spread pays, funding is against you. HTX is 0.037% dearer against Aevo than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TSM-PERP	440.00	0.0104	pay 0.0013% / 1h	7m 19s	$123	—	10x
Short	HTX TSM-USDT	440.16	0	get 0.0000% / 8h	7m 19s	$9K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$21.84
Price spread: +0.037% → 0.000%: $3.7
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$46.14
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; HTX: 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 Aevo no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Aevo and HTX: 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
Bitget TSMUSDT	−0.0031%	8h	440.06	+0.014%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.06	+0.015%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.92	−0.018%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.13	+0.030%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.96	−0.008%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.07	+0.017%	$559K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.11	+0.026%	$1K	$4.0M	10x	as long as short
HTX TSM-USDTshort	0.0000%	8h	440.16	+0.037%	$9K	$8K	20x
Phemex TSMUSDT	0.0000%	8h	440.63	+0.144%	$1.5M	$522K	10x	as long as short
Lighter TSM	+0.0032%	1h	440.00	+0.001%	$495K	$190K	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	439.92	−0.018%	$222K	$725K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.78	−0.049%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.71	−0.065%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.84	−0.036%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.74	−0.058%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.92	−0.018%	$157K	$28K	10x	as long as short
Extended TSM-USD	+0.0056%	1h	440.02	+0.004%	$3K	$219K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	−0.152%	$366K	$97K	10x	as long as short
Binance TSMUSDT	+0.0057%	8h	440.12	+0.028%	$12.9M	$7.9M	20x	as long as short
BloFin TSM-USDT	+0.0068%	8h	440.11	+0.026%	$45K	$107K	20x	as long as short
GRVT TSM_USDT_Perp	+0.0075%	8h	440.18	+0.042%	$15K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.82	−0.040%	$267K	$313K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.09	+0.021%	$21	—	10x	as long as short
Aevo TSM-PERPlong	+0.0104%	1h	440.00	long leg	$123	—	10x
Phoenix TSM	+0.0146%	1h	440.07	+0.017%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+0.914%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0341%	1h	440.07	+0.017%	$4	$25K	10x	as long as short
edgeX TSMUSDC	+0.0428%	4h	440.08	+0.019%	$47K	$216K	10x	as long as short