Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: tradeXYZ against HTX−0.061%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 tradeXYZ

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 airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.061% cheaper against HTX than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.1 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	443.92	0	get 0.0000% / 8h	5h 24m	$9K	$9K	20x
Short	tradeXYZ xyz:TSM	443.65	0.0050	get 0.0006% / 1h	24m 13s	$10.2M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.061%Rate

Funding earned: $10.5
Price spread: −0.061% → 0.000%: −$6.08
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$25.58
Costs to cover: 0.300%
Break-even: 24.1 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: live order book, 3 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 tradeXYZ live order book, 3 min ago	1.01 bp	12.8 bp −$13	doesn't fit	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
Aster TSMUSDT	0.0000%	8h	444.32	+0.089%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.90	−0.005%	$2.0M	$392K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.03	+0.025%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.90	−0.005%	$1.7M	$958K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.07	+0.034%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.96	+0.010%	$550K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.10	+0.041%	$2K	$4.4M	10x	as long as short
Deribit TSM_USDC-PERPETUAL	0.0000%	1h	443.92	0.000%	$4	$24K	10x	as long as short
HTX TSM-USDTlong	0.0000%	8h	443.92	long leg	$9K	$9K	20x
Phemex TSMUSDT	0.0000%	8h	444.26	+0.077%	$1.5M	$445K	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	444.37	+0.101%	$501K	$173K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	444.07	+0.034%	$221K	$645K	10x	as long as short
Binance TSMUSDT	+0.0037%	8h	444.11	+0.043%	$13.0M	$6.8M	20x	as long as short
Extended TSM-USD	+0.0040%	1h	444.00	+0.017%	$1K	$191K	10x	as long as short
BloFin TSM-USDT	+0.0040%	8h	443.99	+0.016%	$45K	$98K	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.74	−0.041%	—	$583	25x	as long as short
tradeXYZ xyz:TSMshort	+0.0050%	1h	443.65	−0.061%	$10.2M	$2.3M	10x
Polymarket Perps TSM-USD	+0.0050%	1h	443.81	−0.025%	$197K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.78	−0.032%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.38	−0.122%	$159K	$23K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.93	+0.002%	$270K	$320K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.02	+0.023%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.06	+0.031%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0111%	8h	443.98	+0.014%	$9K	$1.1M	10x	as long as short
edgeX TSMUSDC	+0.0113%	4h	443.96	+0.010%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.28	−0.144%	$370K	$107K	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.71	−0.047%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	448.49	+1.029%	$7K	$38K	12x	as long as short