Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Polymarket Perps against KuCoin+0.011%49s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1681.684% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.011%, 7d avg +0.002%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TSMUSDTM	443.72	0.0100	pay 0.0100% / 8h	6h 13m	$269K	$317K	20x
Short	Polymarket Perps TSM-USD	443.77	0.0050	get 0.0006% / 1h	13m 45s	$197K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$10.5
Price spread: +0.011% → +0.002%: $0.96
Slippage, 4 orders: −$148.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$177.99
Costs to cover: 1.684%
Break-even: never at this rate

Slippage from KuCoin: live order book, 23 min ago; Polymarket Perps: live order book, 53 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, 23 min ago	14.40 bp	92.1 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 53 min ago	1.12 bp	5.3 bp −$5	6.4 bp −$64	9.4 bp −$940	doesn't fit

TSM on 27 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	444.19	+0.106%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.76	+0.009%	$2.0M	$387K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.94	+0.050%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	443.83	+0.025%	$1.7M	$986K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.43	+0.160%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.23	+0.114%	$550K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.11	+0.088%	$1K	$4.5M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.08	+0.081%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.19	+0.106%	$1.5M	$443K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.30	+0.131%	$371K	$105K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TSMUSDT	+0.0023%	8h	444.09	+0.083%	$13.0M	$6.7M	20x	as long as short
Extended TSM-USD	+0.0024%	1h	443.97	+0.056%	$4K	$197K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.93	+0.047%	$229K	$637K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.55	−0.038%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.50	−0.050%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USDshort	+0.0050%	1h	443.77	+0.011%	$197K	$48K	10x
SoDEX TSM-USD	+0.0050%	1h	443.50	−0.050%	$138	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.52	−0.045%	$160K	$24K	10x	as long as short
KuCoin TSMUSDTMlong	+0.0100%	8h	443.72	long leg	$269K	$317K	20x
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.05	+0.074%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.95	+0.051%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0140%	8h	444.34	+0.140%	$9K	$1.1M	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.14	+0.095%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.49	+1.300%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0348%	4h	444.28	+0.125%	$48K	$216K	10x	as long as short
Lighter TSM	+0.0392%	1h	444.65	+0.210%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0878%	1h	443.95	+0.052%	$98	$24K	10x	as long as short