TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0250%/8h= −27.4% APRnext payment −$2.50 per $10,000 · paid last 24h −0.004%

Price spread now: BloFin against GRVT−0.039%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on GRVT Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.039%, 7d avg −0.003%

Together, before fees+0.081%+ Points / potential airdropGRVT: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BloFin is 0.036% cheaper against GRVT than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.50 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TSM_USDT_Perp	442.20	0.0335	pay 0.0335% / 8h	5h 28m	$8K	$1.3M	10x
Short	BloFin TSM-USDT	442.03	0.0085	get 0.0085% / 8h	5h 28m	$46K	$117K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GRVT. 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 GRVTbpFee BloFinbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$52.49
Price spread: −0.039% → −0.003%: −$3.64
Slippage, 4 orders: −$22.78
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$99.91
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; BloFin: live order book, 7 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 GRVT live order book, 3 min ago	0.11 bp	4.6 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	0.68 bp	11.0 bp −$11	16.9 bp −$169	doesn't fit	doesn't fit

TSM on 28 exchanges

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	−0.0201%	4h	441.70	−0.113%	$48K	$217K	10x	as long as short
Coinbase International TSM-PERP-INTX	−0.0056%	1h	441.37	−0.188%	$373K	$109K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	442.11	−0.020%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	441.81	−0.089%	$2.0M	$392K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.71	−0.111%	$4.1M	$2.8M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.73	−0.107%	$1.7M	$1.1M	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	441.98	−0.050%	$1.8M	$1.5M	20x	as long as short
SunX TSM-USDT	0.0000%	8h	441.93	−0.062%	$2K	$3.8M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.80	−0.091%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.38	−0.186%	$1.5M	$566K	10x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	442.13	−0.016%	$498K	$143K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	442.00	−0.046%	$198K	$687K	10x	as long as short
Injective TSM/USDC PERP	+0.0033%	1h	443.95	+0.395%	$6K	$38K	12x	as long as short
Variational Omni TSM	+0.0040%	8h	441.71	−0.112%	$554K	$44K	—	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	441.38	−0.186%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	441.51	−0.157%	$10.1M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	441.60	−0.136%	$187K	$71K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	441.47	−0.166%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	441.27	−0.211%	$156K	$33K	10x	as long as short
BloFin TSM-USDTshort	+0.0085%	8h	442.03	−0.039%	$46K	$117K	20x
KuCoin TSMUSDTM	+0.0100%	8h	441.68	−0.118%	$268K	$465K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.75	−0.102%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.86	−0.077%	$124	—	10x	as long as short
Binance TSMUSDT	+0.0110%	8h	441.87	−0.075%	$13.0M	$8.6M	20x	as long as short
Extended TSM-USD	+0.0112%	1h	441.72	−0.108%	$5K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0180%	1h	441.83	−0.084%	$97	$10K	10x	as long as short
Phoenix TSM	+0.0253%	1h	441.96	−0.055%	$210K	$10K	10x	as long as short
GRVT TSM_USDT_Perplong	+0.0335%	8h	442.20	long leg	$8K	$1.3M	10x