Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.003%

Price spread now: BloFin against Extended−0.010%54s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 54 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	Extended TSM-USD	440.42	0.0064	pay 0.0008% / 1h	6m 25s	$5K	$188K	10x
Short	BloFin TSM-USDT	440.38	0.0084	get 0.0084% / 8h	3h 06m	$45K	$101K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.010%Rate

Funding earned: $4.2
Price spread: −0.010% → 0.000%: −$1.01
Slippage, 4 orders: −$20.58
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$34.39
Costs to cover: 0.376%
Break-even: 64.3 days

Slippage from Extended: live order book, 45 min ago; BloFin: live order book, 12 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 Extended live order book, 45 min ago	1.48 bp	9.3 bp −$9	119.8 bp −$1,198	doesn't fit	doesn't fit
Sell BloFin live order book, 12 min ago	0.45 bp	10.0 bp −$10	15.5 bp −$155	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
edgeX TSMUSDC	−0.0980%	4h	440.31	−0.027%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0222%	8h	440.55	+0.028%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.55	+0.029%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.22	−0.046%	$2.0M	$389K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.50	+0.017%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.32	−0.024%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.48	+0.012%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.55	+0.028%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.28	−0.033%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.68	+0.058%	$1.5M	$488K	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	440.33	−0.021%	$496K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	440.47	+0.010%	$219K	$677K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.02	−0.092%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.08	−0.078%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.20	−0.051%	$192K	$60K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.02	−0.092%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.11	−0.071%	$156K	$23K	10x	as long as short
Binance TSMUSDT	+0.0063%	8h	440.56	+0.030%	$12.9M	$7.5M	20x	as long as short
Extended TSM-USDlong	+0.0064%	1h	440.42	long leg	$5K	$188K	10x
GRVT TSM_USDT_Perp	+0.0071%	8h	440.39	−0.009%	$10K	$1.3M	10x	as long as short
BloFin TSM-USDTshort	+0.0084%	8h	440.38	−0.010%	$45K	$101K	20x
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.090%	$367K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.12	−0.069%	$267K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.47	+0.010%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.42	−0.002%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.27	−0.035%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.19	+1.082%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0409%	1h	440.43	+0.001%	$4	$24K	10x	as long as short