Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0604%/8h= +66.1% APRpaid last 24h +0.032%

Price spread now: edgeX against KuCoin+0.081%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1821.821% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.081%, 7d avg +0.075%

Together, before fees−0.302%+ Points / potential airdropedgeX: Active · farm board−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.075%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.319%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.319% in total (about -16.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TSMUSDTM	444.40	0.0100	pay 0.0100% / 8h	6h 37m	$269K	$316K	20x
Short	edgeX TSMUSDC	444.76	0.0704	get 0.0352% / 4h	2h 37m	$48K	$216K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.081%Rate

Funding earned: $126.79
Price spread: +0.081% → +0.075%: $0.57
Slippage, 4 orders: −$161.09
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$54.74
Costs to cover: 1.821%
Break-even: 10.0 days

Slippage from KuCoin: live order book, 73 min ago; edgeX: live order book, 29 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 KuCoin live order book, 73 min ago	16.89 bp	108.6 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	5.36 bp	10.0 bp −$10	12.7 bp −$127	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
Aster TSMUSDT	0.0000%	8h	444.74	+0.077%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	444.68	+0.064%	$5K	$196K	10x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.37	−0.007%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.70	+0.068%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.54	+0.032%	$1.7M	$915K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.80	+0.090%	$1.6M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.96	+0.125%	$551K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.84	+0.099%	$1K	$4.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.60	+0.045%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.83	+0.097%	$1.5M	$453K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TSMUSDT	+0.0004%	8h	444.77	+0.083%	$13.1M	$6.9M	20x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.22	−0.041%	$366K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0017%	8h	445.69	+0.290%	$45K	$99K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	444.73	+0.074%	$222K	$630K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.34	−0.014%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	444.33	−0.016%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.59	+0.043%	$200K	$45K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.27	−0.029%	$142	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.59	+0.043%	$160K	$25K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0066%	8h	444.89	+0.110%	$17K	$1.1M	10x	as long as short
KuCoin TSMUSDTMlong	+0.0100%	8h	444.40	long leg	$269K	$316K	20x
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.77	+0.083%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.72	+0.071%	$125	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.61	+0.047%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.67	+1.411%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0416%	1h	445.24	+0.189%	$502K	$170K	10x	as long as short
edgeX TSMUSDCshort	+0.0704%	4h	444.76	+0.081%	$48K	$216K	10x
Deribit TSM_USDC-PERPETUAL	+0.0785%	1h	444.70	+0.068%	$4	$23K	10x	as long as short