Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX0.000%7-day average +0.038% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now 0.000%, 7d avg +0.038%

Together, before fees−0.021%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.038% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TSM-USDT-SWAP	446.48	0	get 0.0000% / 8h	39m 43s	$4.0M	$2.9M	20x
Short	Variational Omni TSM	446.48	0	get 0.0000% / 8h	39m 43s	$553K	$84K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.038%: −$3.81
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.81
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Variational Omni: RFQ quote, 39 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 OKX live order book, 3 min ago	0.67 bp	6.4 bp −$6	15.7 bp −$157	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 39 min ago	2.16 bp	doesn't fit	23.0 bp −$230	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
edgeX TSMUSDC	−0.0715%	4h	446.47	−0.002%	$48K	$216K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.07	−0.092%	$357K	$97K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	446.33	−0.033%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.43	−0.011%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.51	+0.006%	$13.2M	$6.8M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	446.13	−0.078%	$2.0M	$415K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	446.48	long leg	$4.0M	$2.9M	20x
Gate TSM_USDT	0.0000%	8h	446.06	−0.094%	$1.7M	$907K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	446.46	−0.004%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSMshort	0.0000%	8h	446.48	0.000%	$553K	$84K	—

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	446.47	−0.003%	$7K	$1.1M	10x	as long as short
SunX TSM-USDT	0.0000%	8h	446.48	0.000%	$2K	$5.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.37	−0.025%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.97	−0.338%	$1.5M	$455K	10x	as long as short
BloFin TSM-USDT	+0.0007%	8h	446.49	+0.002%	$44K	$102K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	446.52	+0.009%	$224K	$591K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	446.21	−0.060%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.10	−0.085%	$10.3M	$2.4M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	446.24	−0.054%	$196K	$90K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	446.10	−0.085%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.95	−0.119%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	446.12	−0.081%	$271K	$323K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.42	−0.013%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.47	−0.003%	$125	—	10x	as long as short
Phoenix TSM	+0.0215%	1h	446.23	−0.056%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+0.950%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0328%	1h	446.92	+0.099%	$504K	$166K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0355%	1h	446.36	−0.027%	$4	$61K	10x	as long as short