Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.027%

Price spread now: Aevo against BloFin−0.219%653s7-day average — · you buy dearer than you sell

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

Long on BloFin 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—needs both histories

Funding pays, the price is against you. Aevo is 0.219% cheaper against BloFin than usual: you would sell low and buy high (spread −0.219% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 8.4 days of funding at the current rate (+$3 a day). The two prices were read 653 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TSM-USDT	445.69	0.0017	pay 0.0017% / 8h	6h 38m	$45K	$99K	20x
Short	Aevo TSM-PERP	444.72	0.0104	get 0.0013% / 1h	38m 08s	$125	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BloFin. 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 BloFinbpFee AevobpOrdersPrice spread, now −0.219%Rate

Funding earned: $18.3
Price spread: −0.219% → 0.000%: −$21.87
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$31.56
Costs to cover: 0.280%
Break-even: 19.1 days

Slippage unknown: BloFin: live order book, 77 min ago; 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 BloFin live order book, 77 min ago	0.11 bp	7.2 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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 TSMUSDC	−0.0896%	4h	445.28	−0.091%	$48K	$215K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	444.77	−0.206%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	444.71	−0.220%	$5K	$196K	10x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.43	−0.283%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.70	−0.222%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.54	−0.258%	$1.7M	$915K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.80	−0.200%	$1.6M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.96	−0.165%	$551K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.84	−0.191%	$1K	$4.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.60	−0.245%	$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	444.83	−0.193%	$1.5M	$453K	10x	as long as short
Binance TSMUSDT	+0.0002%	8h	444.85	−0.188%	$13.1M	$6.9M	20x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.22	−0.330%	$366K	$102K	10x	as long as short
BloFin TSM-USDTlong	+0.0017%	8h	445.69	long leg	$45K	$99K	20x
Lighter RH TSM	+0.0032%	1h	444.73	−0.215%	$222K	$630K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.40	−0.289%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	444.32	−0.307%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.62	−0.240%	$200K	$45K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.27	−0.319%	$142	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.59	−0.247%	$160K	$25K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0056%	8h	444.86	−0.185%	$17K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.39	−0.292%	$269K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.77	−0.206%	$21	—	10x	as long as short
Aevo TSM-PERPshort	+0.0104%	1h	444.72	−0.219%	$125	—	10x
Phoenix TSM	+0.0179%	1h	444.61	−0.242%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.67	+1.117%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0416%	1h	445.23	−0.103%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0785%	1h	444.70	−0.222%	$4	$23K	10x	as long as short