Funding you earn now, next payment 00:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.023%
Price spread now: Lighter RH against Coinbase International+0.235%7-day average +0.248% · you sell dearer than you buy
Net, funding: paid 7d − costs+$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$180.184% of the position
Funding, last 7 days+0.248%+$25 on $10k
+Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.235%, 7d avg +0.248%
=Together, before fees+0.117%+ Points / potential airdropLighter RH: Points live · farm board+$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.248%, so right now this pair is about funding alone: +$2 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 | 446.95 | −0.0024 | get 0.0003% / 1h | 28m 54s | $358K | $101K | 10x |
| Short | Lighter RH TSM | 448.00 | 0.0032 | get 0.0004% / 1h | 28m 54s | $232K | $639K | 10x |
Coinbase International TSM-PERP-INTX
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $11.76
- Price spread: +0.235% → +0.248%
- −$1.29
- Slippage, 4 orders
- −$8.38
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$7.91
- Costs to cover
- 0.184%
- Break-even
- 11.7 days
Slippage from Coinbase International: live order book, 44 min ago; Lighter RH: live order book, 43 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, 44 min ago | 1.57 bp | 7.8 bp −$8 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 43 min ago | 1.23 bp | 1.6 bp −$2 | 7.5 bp −$75 | 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 | −0.0788% | 4h | 447.23 | +0.062% | $48K | $217K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXlong | −0.0024% | 1h | 446.95 | long leg | $358K | $101K | 10x | |
| BloFin TSM-USDT | −0.0007% | 8h | 448.06 | +0.248% | $45K | $102K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.78 | +0.185% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.95 | +0.223% | $5K | $208K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 448.07 | +0.251% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.78 | +0.186% | $2.0M | $411K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 448.00 | +0.235% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.84 | +0.199% | $1.7M | $910K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.25 | +0.066% | $554K | $84K | — | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 447.79 | +0.188% | $13K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 448.13 | +0.264% | $2K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.93 | −0.004% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 448.21 | +0.282% | $1.5M | $453K | 10x | as long as short |
| Bitget TSMUSDT | +0.0011% | 8h | 447.96 | +0.226% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 448.00 | +0.235% | $232K | $639K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.72 | +0.172% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.64 | +0.154% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.82 | +0.195% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.52 | +0.128% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.76 | +0.181% | $158K | $20K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.49 | +0.121% | $272K | $313K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.80 | +0.190% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.97 | +0.229% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 447.84 | +0.199% | $218K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.79 | +1.083% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0264% | 1h | 448.55 | +0.358% | $506K | $167K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0331% | 1h | 447.84 | +0.199% | $4 | $32K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Bitget TSMUSDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL