TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0259%/8h= −28.3% APRnext payment −$2.59 per $10,000 · paid last 24h +0.005%

Price spread now: Bitget against BloFin−0.032%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bitget is 0.032% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TSM-USDT	441.08	0.0044	pay 0.0044% / 8h	3h 00m	$45K	$102K	20x
Short	Bitget TSMUSDT	440.94	−0.0215	pay 0.0215% / 8h	3h 00m	$1.7M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. 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 BloFinbpFee BitgetbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$54.3
Price spread: −0.032% → 0.000%: −$3.17
Slippage, 4 orders: −$19.39
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$100.87
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from BloFin: live order book, 17 min ago; Bitget: live order book, 1 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 BloFin live order book, 17 min ago	0.45 bp	9.1 bp −$9	16.9 bp −$169	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	2.15 bp	10.0 bp −$10	23.6 bp −$236	52.2 bp −$5,217	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 TSMUSDTshort	−0.0215%	8h	440.94	−0.032%	$1.7M	$1.5M	20x
edgeX TSMUSDC	−0.0149%	4h	440.91	−0.039%	$48K	$217K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	440.82	−0.059%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.75	−0.075%	$2.0M	$395K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.85	−0.052%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.73	−0.079%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.89	−0.042%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.96	−0.027%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.67	−0.093%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.18	+0.023%	$1.5M	$494K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	440.91	−0.039%	$496K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	440.88	−0.045%	$219K	$677K	10x	as long as short
BloFin TSM-USDTlong	+0.0044%	8h	441.08	long leg	$45K	$102K	20x
Vest TSM-USD-PERP	+0.0046%	1h	440.54	−0.122%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.45	−0.143%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.71	−0.084%	$192K	$61K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.54	−0.122%	$139	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.94	−0.258%	$157K	$23K	10x	as long as short
Binance TSMUSDT	+0.0063%	8h	440.90	−0.042%	$12.9M	$7.6M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	440.77	−0.069%	$1K	$191K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0068%	8h	440.59	−0.111%	$10K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.238%	$367K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.52	−0.127%	$268K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.86	−0.050%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.92	−0.035%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.79	−0.066%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.19	+0.932%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0318%	1h	440.77	−0.070%	$4	$24K	10x	as long as short