Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: OKX against Vest+0.052%7-day average — · you sell dearer than you buy

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

Long on Vest Short on OKX

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

The price spread pays, funding is against you. OKX is 0.052% dearer against Vest than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest TSM-USD-PERP	443.56	0.0046	pay 0.0006% / 1h	50m 31s	—	$583	25x
Short	OKX TSM-USDT-SWAP	443.79	0	get 0.0000% / 8h	5h 50m	$4.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Vest. 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 VestbpFee OKXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$9.59
Price spread: +0.052% → 0.000%: $5.19
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee OKX: 5 bp × 2 orders: −$10
Net: −$16.41
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; OKX: live order book, 2 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 Vest no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	1.35 bp	10.0 bp −$10	34.7 bp −$347	doesn't fit	doesn't fit

Vest: 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 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
edgeX TSMUSDC	−0.0267%	4h	443.83	+0.060%	$48K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	444.20	+0.143%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.59	+0.007%	$2.0M	$391K	50x	as long as short
OKX TSM-USDT-SWAPshort	0.0000%	8h	443.79	+0.052%	$4.0M	$2.4M	20x
Gate TSM_USDT	0.0000%	8h	443.73	+0.038%	$1.7M	$940K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.92	+0.081%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.88	+0.072%	$550K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.98	+0.095%	$2K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.76	+0.045%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.12	+0.126%	$1.5M	$441K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	443.78	+0.050%	$222K	$644K	10x	as long as short
Vest TSM-USD-PERPlong	+0.0046%	1h	443.56	long leg	—	$583	25x
Extended TSM-USD	+0.0048%	1h	443.69	+0.029%	$1K	$197K	10x	as long as short
Binance TSMUSDT	+0.0049%	8h	443.77	+0.047%	$13.0M	$6.8M	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.39	−0.038%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.59	+0.007%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.51	−0.011%	$137	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.41	−0.034%	$160K	$23K	10x	as long as short
Lighter TSM	+0.0064%	1h	444.02	+0.104%	$501K	$173K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.48	−0.018%	$269K	$320K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.90	+0.077%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.86	+0.069%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.28	−0.063%	$370K	$107K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0202%	8h	443.99	+0.097%	$8K	$1.1M	10x	as long as short
Phoenix TSM	+0.0217%	1h	443.77	+0.047%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.81	+0.958%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0223%	1h	444.00	+0.099%	$4	$24K	10x	as long as short