Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0174%/8hnext payment −$0.22 per $10,000 · paid last 24h −0.052%

Price spread now: Vest against Injective−1.058%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Vest is 1.058% cheaper against Injective than usual: you would sell low and buy high (−$106 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TSM/USDC PERP	450.01	0.0220	pay 0.0028% / 1h	23m 05s	$7K	$38K	12x
Short	Vest TSM-USD-PERP	445.25	0.0046	get 0.0006% / 1h	23m 05s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Injective. 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 InjectivebpFee VestbpOrdersPrice spread, now −1.058%Rate

Funding earned: −$36.61
Price spread: −1.058% → 0.000%: −$105.78
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Vest: 1 bp × 2 orders: −$2
Net: −$144.4
Costs to cover: 0.020%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Vest: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—
Sell Vest no order-book sample	—	—	—	—	—

Injective and Vest: 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	−0.0242%	4h	445.51	−1.000%	$48K	$215K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0040%	1h	444.71	−1.178%	$358K	$89K	10x	as long as short
BloFin TSM-USDT	−0.0011%	8h	445.35	−1.036%	$45K	$100K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	445.29	−1.049%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.29	−1.049%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.33	−1.040%	$13.1M	$6.5M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.19	−1.071%	$2.0M	$378K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	445.32	−1.042%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	445.14	−1.082%	$1.7M	$884K	100x	as long as short
Variational Omni TSM	0.0000%	8h	445.48	−1.007%	$557K	$81K	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TSM_USDT_Perp	0.0000%	8h	445.49	−1.004%	$10K	$895K	10x	as long as short
SunX TSM-USDT	0.0000%	8h	445.37	−1.031%	$1K	$5.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	445.19	−1.071%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.81	−1.156%	$1.5M	$439K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	445.54	−0.993%	$206K	$671K	10x	as long as short
Vest TSM-USD-PERPshort	+0.0046%	1h	445.25	−1.058%	—	—	25x
Bitget TSMUSDT	+0.0049%	8h	445.14	−1.082%	$1.6M	$1.5M	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.11	−1.089%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.14	−1.082%	$188K	$82K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	445.10	−1.091%	$151	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.96	−1.122%	$158K	$18K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.05	−1.102%	$273K	$318K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.41	−1.022%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	445.42	−1.020%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.44	−1.016%	$217K	$5K	10x	as long as short
Lighter TSM	+0.0208%	1h	445.96	−0.900%	$504K	$154K	10x	as long as short
Injective TSM/USDC PERPlong	+0.0220%	1h	450.01	long leg	$7K	$38K	12x
Deribit TSM_USDC-PERPETUAL	+0.0334%	1h	445.39	−1.027%	$4	$61K	10x	as long as short