Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.009%

Price spread now: Extended against HTX−0.060%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Extended

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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.060% cheaper against HTX than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TSM-USDT	439.98	0	get 0.0000% / 8h	1h 21m	$9K	$8K	20x
Short	Extended TSM-USD	439.71	0.0080	get 0.0010% / 1h	21m 30s	$3K	$142K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against HTX. 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 HTXbpFee ExtendedbpOrdersPrice spread, now −0.060%Rate

Funding earned: $16.8
Price spread: −0.060% → 0.000%: −$6.04
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$6.24
Costs to cover: 0.170%
Break-even: 9.6 days

Slippage unknown: HTX: no order-book sample; Extended: live order book, 19 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 HTX no order-book sample	—	—	—	—	—
Sell Extended live order book, 19 min ago	0.80 bp	8.8 bp −$9	81.4 bp −$814	doesn't fit	doesn't fit

HTX: 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	−0.0508%	4h	439.67	−0.070%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0225%	8h	439.83	−0.034%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	439.90	−0.019%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.67	−0.070%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.72	−0.059%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.65	−0.075%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.63	−0.080%	$558K	$37K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.81	−0.039%	$1K	$4.1M	10x	as long as short
HTX TSM-USDTlong	0.0000%	8h	439.98	long leg	$9K	$8K	20x
Phemex TSMUSDT	0.0000%	8h	440.78	+0.182%	$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	439.80	−0.041%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.60	−0.086%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.27	−0.161%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.148%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.29	−0.157%	$10.2M	$1.7M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.56	−0.095%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.28	−0.159%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.64	−0.077%	$157K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0053%	8h	439.75	−0.052%	$45K	$106K	20x	as long as short
Extended TSM-USDshort	+0.0080%	1h	439.71	−0.060%	$3K	$142K	10x
Binance TSMUSDT	+0.0084%	8h	439.82	−0.036%	$12.9M	$7.9M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0094%	8h	439.67	−0.070%	$14K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.51	−0.107%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.72	−0.059%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.83	−0.033%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.35	−0.143%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.27	+0.975%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0318%	1h	440.05	+0.016%	$4	$25K	10x	as long as short