Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.054%47s7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as 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−$340.345% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 7 days−0.112%−$11 · spread now +0.054%, 7d avg +0.036%

Together, before fees−0.235%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 47 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	Polymarket Perps TSM-USD	440.43	0.0050	pay 0.0006% / 1h	14m 45s	$192K	$60K	10x
Short	OKX TSM-USDT-SWAP	440.67	0	get 0.0000% / 8h	3h 14m	$4.0M	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$10.5
Price spread: +0.054% → +0.036%: $1.89
Slippage, 4 orders: −$16.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.11
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 37 min ago; OKX: live order book, 3 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, 37 min ago	2.04 bp	6.0 bp −$6	6.0 bp −$60	8.8 bp −$877	doesn't fit
Sell OKX live order book, 3 min ago	1.59 bp	9.8 bp −$10	21.9 bp −$219	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
Bitget TSMUSDT	−0.0208%	8h	440.81	+0.086%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.82	+0.089%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.58	+0.034%	$2.0M	$388K	50x	as long as short
OKX TSM-USDT-SWAPshort	0.0000%	8h	440.67	+0.054%	$4.0M	$2.5M	20x
Gate TSM_USDT	0.0000%	8h	440.53	+0.023%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.72	+0.066%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.83	+0.091%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.75	+0.073%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.83	+0.091%	$1.5M	$486K	10x	as long as short
Lighter TSM	+0.0032%	1h	440.82	+0.089%	$496K	$176K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	440.70	+0.061%	$220K	$676K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.37	−0.014%	—	$583	25x	as long as short
edgeX TSMUSDC	+0.0046%	4h	440.57	+0.032%	$47K	$217K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.39	−0.009%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USDlong	+0.0050%	1h	440.43	long leg	$192K	$60K	10x
SoDEX TSM-USD	+0.0050%	1h	440.32	−0.025%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.97	−0.104%	$156K	$23K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	440.65	+0.050%	$4K	$194K	10x	as long as short
Binance TSMUSDT	+0.0067%	8h	440.76	+0.075%	$12.9M	$7.5M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0076%	8h	440.63	+0.045%	$10K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.091%	$367K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0095%	8h	440.79	+0.082%	$45K	$101K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.38	−0.011%	$268K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.60	+0.039%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.71	+0.064%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.38	−0.011%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.45	+1.140%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0363%	1h	440.80	+0.084%	$4	$24K	10x	as long as short