TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0143%/8h= −15.6% APRnext payment −$0.18 per $10,000 · paid last 24h −0.036%

Price spread now: Injective against Deribit+1.104%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Injective is 1.104% dearer against Deribit than usual: you sell high and buy low (spread +1.104% now, against zero (this spread has no 7-day history yet)): +$110 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TSM_USDC-PERPETUAL	441.04	0.0363	pay 0.0045% / 1h	51m 00s	$4	$24K	10x
Short	Injective TSM/USDC PERP	445.91	0.0220	get 0.0028% / 1h	51m 00s	$7K	$38K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now +1.104%Rate

Funding earned: −$29.94
Price spread: +1.104% → 0.000%: $110.42
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $73.46
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Deribit and Injective: 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
Bitget TSMUSDT	−0.0104%	8h	441.26	+0.050%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.39	+0.079%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	441.01	−0.007%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.09	+0.011%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.02	−0.005%	$1.7M	$1.0M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.19	+0.034%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.12	+0.018%	$2K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.88	−0.036%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.24	+0.045%	$1.5M	$475K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.28	+0.054%	$497K	$176K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	441.05	+0.002%	$231K	$653K	10x	as long as short
BloFin TSM-USDT	+0.0045%	8h	441.26	+0.050%	$45K	$99K	20x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.75	−0.066%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.75	−0.066%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.96	−0.018%	$193K	$56K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.74	−0.068%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.27	+0.052%	$158K	$22K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	441.04	+0.001%	$2K	$200K	10x	as long as short
Binance TSMUSDT	+0.0064%	8h	441.17	+0.029%	$12.9M	$7.3M	20x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.79	−0.057%	$368K	$102K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0088%	8h	441.23	+0.043%	$7K	$1.2M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.89	−0.034%	$267K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.05	+0.002%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.07	+0.006%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.92	−0.027%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERPshort	+0.0220%	1h	445.91	+1.104%	$7K	$38K	12x
Deribit TSM_USDC-PERPETUALlong	+0.0363%	1h	441.04	long leg	$4	$24K	10x
edgeX TSMUSDC	+0.0395%	4h	441.13	+0.021%	$47K	$216K	10x	as long as short