Funding you earn now, next payment 04:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h +0.003%
Price spread now: Binance against Coinbase International+0.225%7-day average +0.209% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$350.354% of the position
Funding, last 7 days−0.110%−$11 on $10k
+Price spread, last 4 days (all we have)−0.211%−$21 · spread now +0.225%, 7d avg +0.209%
=The price spread sits at its 7-day average of +0.209%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 440.03 | 0.0088 | pay 0.0011% / 1h | 2m 17s | $367K | $102K | 10x |
| Short | Binance TSMUSDT | 441.02 | 0.0063 | get 0.0063% / 8h | 3h 02m | $12.9M | $7.6M | 20x |
Coinbase International TSM-PERP-INTX
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.22
- Price spread: +0.225% → +0.209%
- $1.6
- Slippage, 4 orders
- −$15.38
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$39.01
- Costs to cover
- 0.354%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 51 min ago; Binance: live order book, 8 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 Coinbase International live order book, 51 min ago | 3.06 bp | 8.5 bp −$9 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Binance live order book, 8 min ago | 0.11 bp | 7.7 bp −$8 | 19.0 bp −$190 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0602% | 4h | 440.50 | +0.106% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0219% | 8h | 441.06 | +0.234% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.01 | +0.222% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.96 | +0.211% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.99 | +0.218% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.86 | +0.189% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.47 | +0.101% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.07 | +0.236% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.67 | +0.145% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.18 | +0.261% | $1.5M | $492K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 441.07 | +0.236% | $497K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.98 | +0.216% | $220K | $677K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.59 | +0.127% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.63 | +0.136% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.81 | +0.177% | $192K | $61K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.49 | +0.105% | $139 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.94 | −0.020% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDTshort | +0.0063% | 8h | 441.02 | +0.225% | $12.9M | $7.6M | 20x | |
| Extended TSM-USD | +0.0064% | 1h | 440.97 | +0.213% | $5K | $188K | 10x | as long as short |
| BloFin TSM-USDT | +0.0068% | 8h | 441.15 | +0.255% | $45K | $102K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0068% | 8h | 440.59 | +0.127% | $10K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0088% | 1h | 440.03 | long leg | $367K | $102K | 10x | |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.63 | +0.136% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.99 | +0.218% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.02 | +0.226% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 440.64 | +0.139% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.173% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0408% | 1h | 440.96 | +0.211% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
BloFin TSM-USDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL