TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0192%/8h= −21.0% APRnext payment −$1.92 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against GRVT−0.126%101s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$390.387% of the position

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.126%, 7d avg −0.044%

Together, before fees+0.054%+ Points / potential airdropGRVT: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.082% cheaper against GRVT than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.044%). Swap the legs. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.022% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.92 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TSM_USDT_Perp	443.55	0.0192	pay 0.0192% / 8h	5h 57m	$9K	$1.1M	10x
Short	OKX TSM-USDT-SWAP	442.99	0	get 0.0000% / 8h	5h 57m	$4.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$40.32
Price spread: −0.126% → −0.044%: −$8.23
Slippage, 4 orders: −$19.71
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$87.26
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	1.58 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.47 bp	9.2 bp −$9	19.6 bp −$196	doesn't fit	doesn't fit

TSM on 27 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
Aster TSMUSDT	0.0000%	8h	443.61	+0.013%	$81K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	442.90	−0.147%	$2.0M	$390K	50x	as long as short
OKX TSM-USDT-SWAPshort	0.0000%	8h	442.99	−0.126%	$4.0M	$2.4M	20x
Gate TSM_USDT	0.0000%	8h	443.00	−0.124%	$1.7M	$910K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	443.21	−0.077%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	443.52	−0.007%	$549K	$61K	—	as long as short
SunX TSM-USDT	0.0000%	8h	443.26	−0.065%	$2K	$4.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	443.27	−0.063%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	443.23	−0.072%	$1.5M	$442K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	443.16	−0.088%	$221K	$644K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest TSM-USD-PERP	+0.0046%	1h	442.76	−0.178%	—	$583	25x	as long as short
Binance TSMUSDT	+0.0047%	8h	443.22	−0.073%	$13.0M	$6.8M	20x	as long as short
Extended TSM-USD	+0.0048%	1h	443.14	−0.093%	$4K	$195K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	442.86	−0.156%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	443.00	−0.124%	$196K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	442.87	−0.153%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.02	−0.119%	$159K	$23K	10x	as long as short
edgeX TSMUSDC	+0.0066%	4h	443.52	−0.006%	$48K	$217K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	442.97	−0.131%	$269K	$319K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	443.15	−0.090%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	443.15	−0.090%	$124	—	10x	as long as short
Lighter TSM	+0.0136%	1h	443.44	−0.025%	$500K	$173K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0152%	1h	443.28	−0.061%	$370K	$107K	10x	as long as short
Phoenix TSM	+0.0179%	1h	443.14	−0.092%	$216K	$5K	10x	as long as short
GRVT TSM_USDT_Perplong	+0.0192%	8h	443.55	long leg	$9K	$1.1M	10x
Injective TSM/USDC PERP	+0.0220%	1h	447.81	+0.960%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0292%	1h	443.14	−0.092%	$4	$24K	10x	as long as short