Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.023%

Price spread now: Lighter RH against HTX−0.059%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 Lighter RH

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 airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.059% cheaper against HTX than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 6.1 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	HTX TSM-USDT	441.09	0	get 0.0000% / 8h	3h 44m	$9K	$8K	20x
Short	Lighter RH TSM	440.83	0.0032	get 0.0004% / 1h	44m 28s	$231K	$654K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.059%Rate

Funding earned: $6.72
Price spread: −0.059% → 0.000%: −$5.89
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$11.17
Costs to cover: 0.120%
Break-even: 18.6 days

Slippage unknown: HTX: no order-book sample; Lighter RH: live order book, 8 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 Lighter RH live order book, 8 min ago	1.81 bp	2.2 bp −$2	6.3 bp −$63	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
Bitget TSMUSDT	−0.0130%	8h	441.00	−0.020%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.42	+0.076%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.81	−0.063%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.97	−0.027%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.81	−0.063%	$1.7M	$1.0M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.11	+0.004%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.96	−0.029%	$2K	$4.3M	10x	as long as short
HTX TSM-USDTlong	0.0000%	8h	441.09	long leg	$9K	$8K	20x
Phemex TSMUSDT	0.0000%	8h	441.04	−0.011%	$1.5M	$477K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.06	−0.007%	$497K	$176K	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 TSMshort	+0.0032%	1h	440.83	−0.059%	$231K	$654K	10x
Vest TSM-USD-PERP	+0.0046%	1h	440.46	−0.143%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.52	−0.129%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.76	−0.075%	$193K	$56K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.59	−0.113%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.56	−0.120%	$158K	$22K	10x	as long as short
Binance TSMUSDT	+0.0063%	8h	440.98	−0.026%	$12.9M	$7.4M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	440.85	−0.055%	$2K	$200K	10x	as long as short
BloFin TSM-USDT	+0.0066%	8h	440.94	−0.034%	$45K	$99K	20x	as long as short
GRVT TSM_USDT_Perp	+0.0085%	8h	440.88	−0.048%	$13K	$1.2M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.79	−0.068%	$368K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.75	−0.077%	$268K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.93	−0.036%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.95	−0.033%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.78	−0.070%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.91	+1.093%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0476%	1h	440.89	−0.045%	$4	$24K	10x	as long as short
edgeX TSMUSDC	+0.0656%	4h	441.11	+0.005%	$47K	$217K	10x	as long as short