Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0428%/8h= −46.8% APRpaid last 24h −0.030%

Price spread now: SunX against edgeX+0.041%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$267as in the Price arb table

costs, in and out, $10k−$2712.710% of the position

Long on edgeX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.041%, 7d avg −0.001%

Together, before fees+0.035%+ Points / potential airdropedgeX: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.042% dearer against edgeX than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.001%): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.071% in total (about 3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TSMUSDC	440.08	0.0428	pay 0.0214% / 4h	9m 23s	$47K	$216K	10x
Short	SunX TSM-USDT	440.26	0	get 0.0000% / 8h	9m 23s	$2K	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against edgeX. 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 edgeXbpFee SunXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$89.81
Price spread: +0.041% → −0.001%: $4.2
Slippage, 4 orders: −$253.98
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$356.59
Costs to cover: 2.710%
Break-even: never at this rate

Slippage from edgeX: live order book, 28 min ago; SunX: live order book, 9 min ago.

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 edgeX live order book, 28 min ago	5.80 bp	10.5 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	44.75 bp	126.8 bp −$127	doesn't fit	doesn't fit	doesn't fit

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	−0.0039%	8h	440.06	−0.004%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.07	−0.002%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.91	−0.038%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.18	+0.023%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.08	0.000%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.07	−0.002%	$559K	$38K	—	as long as short
SunX TSM-USDTshort	0.0000%	8h	440.26	+0.041%	$2K	$4.0M	10x
HTX TSM-USDT	0.0000%	8h	440.16	+0.018%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.77	+0.157%	$1.5M	$522K	10x	as long as short
Lighter TSM	+0.0032%	1h	440.00	−0.018%	$495K	$190K	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	440.03	−0.011%	$222K	$725K	10x	as long as short
BloFin TSM-USDT	+0.0035%	8h	440.37	+0.066%	$45K	$107K	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.83	−0.057%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.75	−0.075%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.89	−0.043%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.79	−0.066%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.92	−0.036%	$157K	$28K	10x	as long as short
Extended TSM-USD	+0.0056%	1h	440.13	+0.011%	$3K	$219K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	−0.170%	$366K	$97K	10x	as long as short
Binance TSMUSDT	+0.0060%	8h	440.21	+0.029%	$12.9M	$7.9M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0075%	8h	440.18	+0.024%	$15K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.81	−0.061%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.10	+0.005%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.14	+0.015%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	440.07	−0.002%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+0.896%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0387%	1h	440.06	−0.004%	$4	$25K	10x	as long as short
edgeX TSMUSDClong	+0.0428%	4h	440.08	long leg	$47K	$216K	10x