Funding you earn now, next payment 03:00 UTC−0.0626%/8h= −68.6% APRnext payment −$0.78 per $10,000 · paid last 24h −0.082%
Price spread now: tradeXYZ against Deribit−0.045%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
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and tradeXYZ is 0.045% cheaper against Deribit than usual: you would sell low and buy high (−$5 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 | 443.08 | 0.0676 | pay 0.0085% / 1h | 2m 06s | $4 | $24K | 10x |
| Short | tradeXYZ xyz:TSM | 442.88 | 0.0050 | get 0.0006% / 1h | 2m 06s | $10.3M | $2.3M | 10x |
Deribit TSM_USDC-PERPETUAL
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$131.5
- Price spread: −0.045% → 0.000%
- −$4.51
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$161.02
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; tradeXYZ: live order book, 7 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 tradeXYZ live order book, 7 min ago | 0.34 bp | 11.7 bp −$12 | doesn't fit | 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 | −0.0717% | 4h | 443.25 | +0.038% | $48K | $217K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 443.39 | +0.070% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 442.94 | −0.032% | $2.0M | $381K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.11 | +0.007% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 442.97 | −0.025% | $1.7M | $963K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.45 | +0.084% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.27 | +0.043% | $549K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.17 | +0.020% | $2K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 443.12 | +0.009% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 443.27 | +0.043% | $1.5M | $445K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | +0.0021% | 8h | 443.20 | +0.027% | $45K | $98K | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 443.40 | +0.072% | $500K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.05 | −0.007% | $221K | $645K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 442.72 | −0.081% | — | $583 | 25x | as long as short |
| Binance TSMUSDT | +0.0047% | 8h | 443.18 | +0.022% | $13.0M | $6.8M | 20x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 443.05 | −0.006% | $2K | $189K | 10x | as long as short |
| tradeXYZ xyz:TSMshort | +0.0050% | 1h | 442.88 | −0.045% | $10.3M | $2.3M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 442.96 | −0.027% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 442.81 | −0.061% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 442.48 | −0.135% | $158K | $23K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0097% | 8h | 443.38 | +0.068% | $11K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 442.82 | −0.059% | $268K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.04 | −0.009% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.14 | +0.014% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.05 | −0.007% | $369K | $107K | 10x | as long as short |
| Phoenix TSM | +0.0217% | 1h | 443.04 | −0.009% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.46 | +1.214% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUALlong | +0.0676% | 1h | 443.08 | long leg | $4 | $24K | 10x |
BloFin TSM-USDT
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Binance TSMUSDT
Extended TSM-USD
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
Phoenix TSM
Injective TSM/USDC PERP