Funding you earn now, next payment 04:00 UTC−0.0888%/8h= −97.3% APRnext payment −$1.11 per $10,000 · paid last 24h −0.099%
Price spread now: Coinbase International against Deribit−0.191%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 −$27 a day on $10k at the current rate, and Coinbase International is 0.191% cheaper against Deribit than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TSM_USDC-PERPETUAL | 440.87 | 0.0976 | pay 0.0122% / 1h | 28m 45s | $97 | $24K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 440.03 | 0.0088 | get 0.0011% / 1h | 28m 45s | $367K | $102K | 10x |
Deribit TSM_USDC-PERPETUAL
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- −$186.55
- Price spread: −0.191% → 0.000%
- −$19.05
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$222.61
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 24 min ago. Net counts fees only.
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 Deribit no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 24 min ago | 3.06 bp | 9.3 bp −$9 | 13.3 bp −$133 | doesn't fit | doesn't fit |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0764% | 4h | 440.64 | −0.053% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0202% | 8h | 440.99 | +0.027% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.10 | +0.053% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.92 | +0.011% | $2.0M | $388K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.03 | +0.036% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.83 | −0.009% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.76 | −0.025% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.95 | +0.018% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.57 | −0.068% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.91 | +0.009% | $1.5M | $481K | 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 | 441.02 | +0.034% | $497K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.99 | +0.027% | $223K | $671K | 10x | as long as short |
| BloFin TSM-USDT | +0.0042% | 8h | 441.08 | +0.048% | $45K | $100K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.62 | −0.057% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.72 | −0.034% | $10.3M | $2.1M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.68 | −0.043% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.39 | −0.109% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.96 | −0.206% | $157K | $22K | 10x | as long as short |
| Binance TSMUSDT | +0.0071% | 8h | 441.14 | +0.061% | $12.9M | $7.4M | 20x | as long as short |
| Extended TSM-USD | +0.0072% | 1h | 441.01 | +0.032% | $2K | $195K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0088% | 1h | 440.03 | −0.191% | $367K | $102K | 10x | |
| GRVT TSM_USDT_Perp | +0.0091% | 8h | 440.78 | −0.020% | $11K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.78 | −0.020% | $268K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.87 | 0.000% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.92 | +0.011% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 440.23 | −0.145% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.10 | +0.959% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUALlong | +0.0976% | 1h | 440.87 | long leg | $97 | $24K | 10x |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP