TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0194%/8h= +21.2% APRnext payment +$1.94 per $10,000 · paid last 24h +0.004%

Price spread now: GRVT against BloFin−0.047%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$450.449% of the position

Long on BloFin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now −0.047%, 7d avg +0.005%

Together, before fees−0.099%+ Points / potential airdropGRVT: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.052% cheaper against BloFin than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.005%). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.020% in total) that is about 18 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.020% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.94 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	440.17	0.0044	pay 0.0044% / 8h	6h 58m	$45K	$111K	20x
Short	GRVT TSM_USDT_Perp	439.96	0.0238	get 0.0238% / 8h	6h 58m	$12K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.047%Rate

Funding earned: $40.64
Price spread: −0.047% → +0.005%: −$5.17
Slippage, 4 orders: −$23.92
Fee BloFin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$9.45
Costs to cover: 0.449%
Break-even: 8.6 days

Slippage from BloFin: live order book, 57 min ago; GRVT: live order book, 10 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, 57 min ago	0.91 bp	12.7 bp −$13	28.5 bp −$285	doesn't fit	doesn't fit
Sell GRVT live order book, 10 min ago	1.25 bp	8.8 bp −$9	doesn't fit	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	−0.0016%	1h	439.24	−0.211%	$371K	$98K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	439.86	−0.070%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.75	−0.095%	$2.0M	$401K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.10	−0.016%	$4.0M	$2.7M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.91	−0.059%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	440.03	−0.032%	$1.8M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	440.05	−0.026%	$551K	$44K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.28	+0.025%	$2K	$3.9M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.16	−0.002%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.38	+0.048%	$1.5M	$543K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TSM-USD	+0.0024%	1h	440.05	−0.028%	$1K	$214K	10x	as long as short
Binance TSMUSDT	+0.0028%	8h	440.16	−0.002%	$12.9M	$8.3M	20x	as long as short
Lighter TSM	+0.0032%	1h	439.95	−0.050%	$495K	$142K	10x	as long as short
BloFin TSM-USDTlong	+0.0044%	8h	440.17	long leg	$45K	$111K	20x
Vest TSM-USD-PERP	+0.0046%	1h	439.82	−0.080%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.62	−0.125%	$10.0M	$1.9M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.72	−0.102%	$190K	$67K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.78	−0.089%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.48	−0.157%	$158K	$27K	10x	as long as short
Lighter RH TSM	+0.0056%	1h	440.00	−0.039%	$196K	$724K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.60	−0.129%	$267K	$372K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.99	−0.041%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.15	−0.005%	$123	—	10x	as long as short
Phoenix TSM	+0.0145%	1h	439.86	−0.070%	$209K	$10K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	443.95	+0.859%	$6K	$38K	12x	as long as short
GRVT TSM_USDT_Perpshort	+0.0238%	8h	439.96	−0.047%	$12K	$1.3M	10x
edgeX TSMUSDC	+0.0242%	4h	440.12	−0.011%	$47K	$217K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0728%	1h	440.12	−0.011%	$4	$13K	10x	as long as short