Funding you earn now, next payment 01:00 UTC−0.0416%/8h= −45.6% APRnext payment −$0.52 per $10,000 · paid last 24h −0.062%
Price spread now: Coinbase International against Lighter+0.110%7-day average −0.295% · you sell dearer than you buy
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$490.493% of the position
Funding, last 7 days−0.561%−$56 on $10k
+Price spread, last 3 days (all we have)−0.193%−$19 · spread now +0.110%, 7d avg −0.295%
=Together, before fees−0.754%+ Points / potential airdropLighter: Season 3 · farm board−$75 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.405% dearer against Lighter than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of −0.295%): +$41 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 3.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 445.94 | 0.0432 | pay 0.0054% / 1h | 48m 13s | $503K | $170K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 446.43 | 0.0016 | get 0.0002% / 1h | 48m 13s | $358K | $94K | 10x |
Lighter TSM
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- −$87.36
- Price spread: +0.110% → −0.295%
- $40.52
- Slippage, 4 orders
- −$39.26
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$96.1
- Costs to cover
- 0.493%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 12 min ago; Coinbase International: live order book, 20 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 Lighter live order book, 12 min ago | 8.70 bp | 8.7 bp −$9 | 13.0 bp −$130 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 20 min ago | 3.13 bp | 8.7 bp −$9 | 12.7 bp −$127 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 445.50 | −0.098% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.31 | −0.141% | $5K | $198K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.35 | −0.133% | $13.1M | $7.0M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.14 | −0.179% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.51 | −0.096% | $4.0M | $2.9M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.26 | −0.152% | $1.7M | $905K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.45 | −0.110% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.57 | −0.084% | $552K | $82K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.88 | −0.014% | $5K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.45 | −0.110% | $2K | $4.8M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 445.66 | −0.063% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.44 | −0.112% | $1.5M | $454K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0016% | 1h | 446.43 | +0.110% | $358K | $94K | 10x | |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | −0.056% | $45K | $99K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.34 | −0.135% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.04 | −0.202% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.92 | −0.229% | $10.2M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.10 | −0.188% | $199K | $44K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.06 | −0.197% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.10 | −0.188% | $158K | $24K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.08 | −0.193% | $270K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.36 | −0.130% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.35 | −0.133% | $125 | — | 10x | as long as short |
| edgeX TSMUSDC | +0.0122% | 4h | 445.99 | +0.011% | $48K | $216K | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 445.34 | −0.135% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.061% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0357% | 1h | 445.29 | −0.146% | $98 | $32K | 10x | as long as short |
| Lighter TSMlong | +0.0432% | 1h | 445.94 | long leg | $503K | $170K | 10x |
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
edgeX TSMUSDC
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL