Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.014%

Price spread now: Vest against Bybit−0.063%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.063% cheaper against Bybit than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSMUSDT	441.65	0	get 0.0000% / 8h	5h 27m	$2.0M	$392K	50x
Short	Vest TSM-USD-PERP	441.37	0.0046	get 0.0006% / 1h	27m 02s	—	$2K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Bybit. 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 BybitbpFee VestbpOrdersPrice spread, now −0.063%Rate

Funding earned: $9.59
Price spread: −0.063% → 0.000%: −$6.34
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: −$9.75
Costs to cover: 0.130%
Break-even: 14.1 days

Slippage unknown: Bybit: live order book, 3 min ago; Vest: 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 Bybit live order book, 3 min ago	2.83 bp	16.6 bp −$17	118.3 bp −$1,183	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 exchanges

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	−0.0258%	4h	441.89	+0.055%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0056%	1h	441.37	−0.063%	$373K	$109K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	442.09	+0.099%	$82K	$2K	20x	as long as short
Bybit TSMUSDTlong	0.0000%	8h	441.65	long leg	$2.0M	$392K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	441.92	+0.061%	$4.1M	$2.8M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.77	+0.027%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	441.92	+0.061%	$1.8M	$1.5M	20x	as long as short
SunX TSM-USDT	0.0000%	8h	441.91	+0.059%	$2K	$3.7M	10x	as long as short
Deribit TSM_USDC-PERPETUAL	0.0000%	1h	441.75	+0.023%	$97	$10K	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.80	+0.034%	$9K	$8K	20x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	441.37	−0.063%	$1.5M	$567K	10x	as long as short
Lighter TSM	+0.0032%	1h	442.09	+0.100%	$498K	$143K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	441.93	+0.063%	$198K	$687K	10x	as long as short
Injective TSM/USDC PERP	+0.0033%	1h	443.95	+0.521%	$6K	$38K	12x	as long as short
Variational Omni TSM	+0.0040%	8h	441.71	+0.013%	$554K	$44K	—	as long as short
Vest TSM-USD-PERPshort	+0.0046%	1h	441.37	−0.063%	—	$2K	25x
tradeXYZ xyz:TSM	+0.0050%	1h	441.55	−0.023%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	441.64	−0.002%	$187K	$71K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	441.53	−0.027%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.40	−0.057%	$156K	$33K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	441.62	−0.007%	$268K	$466K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.88	+0.052%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.84	+0.043%	$124	—	10x	as long as short
Binance TSMUSDT	+0.0109%	8h	441.93	+0.063%	$13.0M	$8.6M	20x	as long as short
Extended TSM-USD	+0.0112%	1h	441.78	+0.030%	$5K	$216K	10x	as long as short
BloFin TSM-USDT	+0.0125%	8h	442.06	+0.093%	$46K	$117K	20x	as long as short
Phoenix TSM	+0.0253%	1h	441.96	+0.070%	$210K	$10K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0335%	8h	442.20	+0.125%	$8K	$1.3M	10x	as long as short