Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.027%

Price spread now: SoDEX against SunX−0.085%7-day average — · you buy dearer than you sell

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

Long on SunX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.085% cheaper against SunX than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 5.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	446.50	0	get 0.0000% / 8h	36m 33s	$2K	$5.1M	10x
Short	SoDEX TSM-USD	446.12	0.0050	get 0.0006% / 1h	36m 33s	$145	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against SunX. 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 SunXbpFee SoDEXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $10.5
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.01
Costs to cover: 0.160%
Break-even: 16.3 days

Slippage unknown: SunX: live order book, 12 min ago; SoDEX: no order-book sample. 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 SunX live order book, 12 min ago	44.69 bp	123.0 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin TSM-USDT	−0.0024%	8h	446.53	+0.007%	$44K	$102K	20x	as long as short
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.07	−0.096%	$357K	$97K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	446.35	−0.033%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.45	−0.010%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.53	+0.007%	$13.2M	$6.7M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	446.17	−0.074%	$2.0M	$414K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.47	−0.007%	$4.0M	$2.9M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	446.06	−0.099%	$1.7M	$907K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	446.49	−0.002%	$1.6M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	446.48	−0.005%	$553K	$84K	—	as long as short

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	−0.007%	$7K	$1.1M	10x	as long as short
SunX TSM-USDTlong	0.0000%	8h	446.50	long leg	$2K	$5.1M	10x
HTX TSM-USDT	0.0000%	8h	446.14	−0.081%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.99	−0.338%	$1.5M	$452K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	446.53	+0.007%	$224K	$591K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	446.21	−0.065%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.13	−0.083%	$10.3M	$2.4M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	446.26	−0.054%	$196K	$90K	10x	as long as short
SoDEX TSM-USDshort	+0.0050%	1h	446.12	−0.085%	$145	$3K	10x
Ondo Perps TSM-USD.P	+0.0050%	1h	446.31	−0.043%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.98	−0.116%	$271K	$323K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.44	−0.013%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.48	−0.005%	$125	—	10x	as long as short
edgeX TSMUSDC	+0.0132%	4h	446.46	−0.008%	$48K	$215K	10x	as long as short
Phoenix TSM	+0.0215%	1h	446.45	−0.011%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+0.945%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0320%	1h	446.95	+0.101%	$504K	$166K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0355%	1h	446.36	−0.031%	$4	$61K	10x	as long as short