Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0543%/8h= −59.4% APRpaid last 24h −0.094%

Price spread now: BloFin against Deribit+0.046%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on BloFin

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. BloFin is 0.046% dearer against Deribit than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TSM_USDC-PERPETUAL	439.43	0.0638	pay 0.0080% / 1h	26m 40s	$4	$25K	10x
Short	BloFin TSM-USDT	439.63	0.0095	get 0.0095% / 8h	1h 26m	$45K	$106K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$114
Price spread: +0.046% → 0.000%: $4.55
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$128.45
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 44 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell BloFin live order book, 44 min ago	0.68 bp	10.8 bp −$11	17.6 bp −$176	doesn't fit	doesn't fit

Deribit: 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	−0.0750%	4h	439.46	+0.006%	$47K	$215K	10x	as long as short
Bitget TSMUSDT	−0.0231%	8h	439.55	+0.027%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	439.44	+0.003%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.27	−0.036%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.45	+0.005%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.31	−0.027%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.41	−0.004%	$557K	$37K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.60	+0.039%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.32	−0.025%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.68	+0.284%	$1.5M	$517K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	439.56	+0.030%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.41	−0.005%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.14	−0.066%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.023%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.17	−0.059%	$10.2M	$1.7M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.21	−0.050%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.14	−0.066%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	438.99	−0.100%	$157K	$27K	10x	as long as short
Binance TSMUSDT	+0.0080%	8h	439.56	+0.030%	$12.9M	$7.9M	20x	as long as short
Extended TSM-USD	+0.0080%	1h	439.46	+0.007%	$3K	$155K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0088%	8h	439.40	−0.007%	$14K	$1.3M	10x	as long as short
BloFin TSM-USDTshort	+0.0095%	8h	439.63	+0.046%	$45K	$106K	20x
KuCoin TSMUSDTM	+0.0100%	8h	439.08	−0.080%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.51	+0.018%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.56	+0.030%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.25	−0.041%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.27	+1.101%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUALlong	+0.0638%	1h	439.43	long leg	$4	$25K	10x