Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.009%

Price spread now: Binance against Polymarket Perps+0.025%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.373%−$37 on $10k

Price spread, last 2 days (all we have)+0.069%+$7 · spread now +0.025%, 7d avg +0.077%

Together, before fees−0.304%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.052% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.077%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TSM-USD	447.04	0.0050	pay 0.0006% / 1h	2m 49s	$198K	$42K	10x
Short	Binance TSMUSDT	447.15	0	get 0.0000% / 8h	7h 02m	$13.2M	$7.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.025%Rate

Funding earned: −$10.5
Price spread: +0.025% → +0.077%: −$5.19
Slippage, 4 orders: −$16.23
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$49.92
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Binance: live order book, 8 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 Polymarket Perps live order book, 4 min ago	1.12 bp	8.9 bp −$9	10.0 bp −$100	11.8 bp −$1,176	doesn't fit
Sell Binance live order book, 8 min ago	0.11 bp	10.3 bp −$10	22.6 bp −$226	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
Coinbase International TSM-PERP-INTX	−0.0024%	1h	447.30	+0.058%	$359K	$100K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	447.12	+0.017%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	447.04	0.000%	$5K	$204K	10x	as long as short
Binance TSMUSDTshort	0.0000%	8h	447.15	+0.025%	$13.2M	$7.0M	20x
Bybit TSMUSDT	0.0000%	8h	446.94	−0.022%	$2.0M	$413K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	447.20	+0.036%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	447.02	−0.004%	$1.7M	$930K	100x	as long as short
Variational Omni TSM	0.0000%	8h	447.45	+0.092%	$554K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	447.27	+0.051%	$2K	$4.9M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	447.29	+0.056%	$9K	$9K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	447.25	+0.047%	$1.5M	$456K	10x	as long as short
Bitget TSMUSDT	+0.0008%	8h	447.37	+0.074%	$1.6M	$1.4M	20x	as long as short
BloFin TSM-USDT	+0.0018%	8h	447.29	+0.056%	$45K	$100K	20x	as long as short
Lighter RH TSM	+0.0032%	1h	447.15	+0.025%	$229K	$657K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	447.04	0.000%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.89	−0.034%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USDlong	+0.0050%	1h	447.04	long leg	$198K	$42K	10x
SoDEX TSM-USD	+0.0050%	1h	446.84	−0.045%	$146	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	447.27	+0.051%	$158K	$22K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0065%	8h	447.55	+0.115%	$13K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	446.93	−0.025%	$271K	$314K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	447.11	+0.016%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	447.23	+0.043%	$125	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	447.42	+0.085%	$218K	$5K	10x	as long as short
edgeX TSMUSDC	+0.0217%	4h	447.45	+0.091%	$48K	$216K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	452.09	+1.130%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0312%	1h	447.86	+0.183%	$505K	$167K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0377%	1h	447.13	+0.020%	$98	$32K	10x	as long as short