Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Aster−0.045%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Aevo

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aevo is 0.045% cheaper against Aster than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 35 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	441.85	0	get 0.0000% / 8h	4h 14m	$82K	$2K	20x
Short	Aevo TSM-PERP	441.66	0.0104	get 0.0013% / 1h	14m 51s	$124	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Aster. 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 AsterbpFee AevobpOrdersPrice spread, now −0.045%Rate

Funding earned: $21.84
Price spread: −0.045% → 0.000%: −$4.52
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$6.68
Costs to cover: 0.240%
Break-even: 9.1 days

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

Aster and 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
Bitget TSMUSDT	−0.0083%	8h	441.92	+0.015%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDTlong	0.0000%	8h	441.85	long leg	$82K	$2K	20x
Bybit TSMUSDT	0.0000%	8h	441.51	−0.078%	$2.0M	$395K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.73	−0.028%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.46	−0.089%	$1.7M	$1.0M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.69	−0.037%	$547K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.75	−0.024%	$2K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.47	−0.087%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.88	+0.006%	$1.5M	$473K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.87	+0.003%	$497K	$176K	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	441.65	−0.046%	$220K	$643K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0044%	1h	441.56	−0.067%	$97	$24K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	441.36	−0.112%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	441.37	−0.110%	$10.2M	$2.2M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	441.39	−0.105%	$194K	$53K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	441.43	−0.096%	$139	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.30	−0.126%	$158K	$23K	10x	as long as short
BloFin TSM-USDT	+0.0054%	8h	441.69	−0.037%	$45K	$99K	20x	as long as short
Extended TSM-USD	+0.0072%	1h	441.61	−0.056%	$1K	$190K	10x	as long as short
Binance TSMUSDT	+0.0074%	8h	441.71	−0.034%	$13.0M	$7.3M	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	441.28	−0.130%	$268K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.63	−0.051%	$21	—	10x	as long as short
Aevo TSM-PERPshort	+0.0104%	1h	441.66	−0.045%	$124	—	10x
Coinbase International TSM-PERP-INTX	+0.0120%	1h	440.79	−0.241%	$368K	$102K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0125%	8h	441.74	−0.026%	$11K	$1.2M	10x	as long as short
edgeX TSMUSDC	+0.0194%	4h	441.58	−0.062%	$48K	$217K	10x	as long as short
Phoenix TSM	+0.0199%	1h	441.66	−0.044%	$215K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.69	+1.321%	$7K	$38K	12x	as long as short