Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Aster−0.134%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 Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.134% cheaper against Aster than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TSMUSDT	444.35	0	get 0.0000% / 8h	6h 16m	$82K	$1K	20x
Short	Ondo Perps TSM-USD.P	443.75	0.0050	get 0.0006% / 1h	16m 14s	$160K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.134%Rate

Funding earned: $10.58
Price spread: −0.134% → 0.000%: −$13.4
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$15.82
Costs to cover: 0.130%
Break-even: 17.5 days

Slippage unknown: Aster: no order-book sample; Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—

Aster and Ondo Perps: 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 27 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
Aster TSMUSDTlong	0.0000%	8h	444.35	long leg	$82K	$1K	20x
Bybit TSMUSDT	0.0000%	8h	444.09	−0.057%	$2.0M	$387K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.15	−0.044%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.06	−0.064%	$1.7M	$986K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.43	+0.019%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.30	−0.011%	$550K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.33	−0.003%	$1K	$4.5M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.16	−0.042%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.38	+0.008%	$1.5M	$446K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.30	−0.010%	$371K	$105K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TSMUSDT	+0.0020%	8h	444.29	−0.012%	$13.1M	$6.8M	20x	as long as short
Extended TSM-USD	+0.0024%	1h	444.24	−0.025%	$4K	$197K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	444.21	−0.030%	$229K	$637K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.90	−0.100%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.82	−0.118%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.02	−0.073%	$197K	$48K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.82	−0.118%	$138	$3K	10x	as long as short
Ondo Perps TSM-USD.Pshort	+0.0050%	1h	443.75	−0.134%	$160K	$24K	10x
KuCoin TSMUSDTM	+0.0100%	8h	444.00	−0.078%	$270K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.29	−0.012%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.21	−0.031%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0140%	8h	444.34	−0.001%	$9K	$1.1M	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.14	−0.046%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.49	+1.158%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0348%	4h	444.28	−0.016%	$48K	$216K	10x	as long as short
Lighter TSM	+0.0376%	1h	444.77	+0.096%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0561%	1h	444.09	−0.057%	$98	$24K	10x	as long as short