Funding you earn now, next payment 05:00 UTC−0.0022%/8h= −2.4% APRnext payment −$0.03 per $10,000 · paid last 24h +0.012%
Price spread now: Polymarket Perps against Coinbase International+0.257%47s7-day average +0.133% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$350.348% of the position
Funding, last 7 days+0.259%+$26 on $10k
+Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.257%, 7d avg +0.133%
=The price spread pays, funding is against you. Polymarket Perps is 0.124% dearer against Coinbase International than usual: you sell high and buy low (spread +0.257% now, against its 7-day average of +0.133%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days. Mind the row above: over the last 7 days funding on this pair paid +0.259%, so the current rate has only just turned against you. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 439.33 | 0.0072 | pay 0.0009% / 1h | 12m 26s | $366K | $102K | 10x |
| Short | Polymarket Perps TSM-USD | 440.46 | 0.0050 | get 0.0006% / 1h | 12m 26s | $192K | $63K | 10x |
Coinbase International TSM-PERP-INTX
Polymarket Perps TSM-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$4.62
- Price spread: +0.257% → +0.133%
- $12.45
- Slippage, 4 orders
- −$16.82
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$26.99
- Costs to cover
- 0.348%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 36 min ago; Polymarket Perps: live order book, 34 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, 36 min ago | 3.97 bp | 9.9 bp −$10 | 13.6 bp −$136 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 34 min ago | 3.40 bp | 7.4 bp −$7 | 8.1 bp −$81 | 10.1 bp −$1,014 | 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 | −0.0351% | 4h | 440.09 | +0.174% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0238% | 8h | 440.69 | +0.310% | $1.7M | $1.6M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.44 | +0.253% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.57 | +0.282% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.68 | +0.307% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.51 | +0.269% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.07 | +0.169% | $552K | $30K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.56 | +0.280% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.26 | +0.212% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.20 | +0.426% | $1.5M | $510K | 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 | 440.49 | +0.264% | $496K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.59 | +0.287% | $220K | $681K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.35 | +0.232% | — | $1K | 25x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 440.58 | +0.284% | $5K | $183K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0049% | 8h | 440.18 | +0.193% | $13K | $1.3M | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.39 | +0.241% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USDshort | +0.0050% | 1h | 440.46 | +0.257% | $192K | $63K | 10x | |
| SoDEX TSM-USD | +0.0050% | 1h | 439.98 | +0.148% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.97 | +0.146% | $158K | $27K | 10x | as long as short |
| Binance TSMUSDT | +0.0051% | 8h | 440.77 | +0.329% | $12.9M | $7.8M | 20x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0072% | 1h | 439.33 | long leg | $366K | $102K | 10x | |
| BloFin TSM-USDT | +0.0078% | 8h | 440.38 | +0.239% | $45K | $103K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.17 | +0.191% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.53 | +0.273% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.75 | +0.323% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0163% | 1h | 440.13 | +0.182% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.65 | +1.211% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0341% | 1h | 440.44 | +0.253% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Extended TSM-USD
GRVT TSM_USDT_Perp
tradeXYZ xyz:TSM
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL