Funding you earn now, next payment 00:00 UTC−0.0320%/8h= −35.0% APRnext payment −$0.40 per $10,000 · paid last 24h −0.031%
Price spread now: Lighter RH against Lighter−0.107%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$300.298% of the position
Funding, last 7 days−0.319%−$32 on $10k
+Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.107%, 7d avg −0.055%
=Together, before fees−0.338%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$34 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Lighter RH is 0.053% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.055%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 446.91 | 0.0352 | pay 0.0044% / 1h | 46m 24s | $504K | $166K | 10x |
| Short | Lighter RH TSM | 446.43 | 0.0032 | get 0.0004% / 1h | 46m 24s | $231K | $585K | 10x |
Lighter TSM
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$67.2
- Price spread: −0.107% → −0.055%
- −$5.27
- Slippage, 4 orders
- −$29.76
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$102.23
- Costs to cover
- 0.298%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 24 min ago; Lighter RH: live order book, 31 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, 24 min ago | 8.28 bp | 8.3 bp −$8 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 31 min ago | 1.68 bp | 2.0 bp −$2 | 6.7 bp −$67 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0275% | 4h | 446.41 | −0.112% | $48K | $216K | 10x | as long as short |
| BloFin TSM-USDT | −0.0028% | 8h | 446.45 | −0.103% | $44K | $102K | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.07 | −0.188% | $357K | $97K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.33 | −0.130% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.38 | −0.119% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.47 | −0.098% | $13.2M | $6.8M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 446.10 | −0.181% | $2.0M | $417K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.40 | −0.114% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.03 | −0.197% | $1.7M | $906K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.29 | −0.139% | $1.6M | $1.5M | 20x | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni TSM | 0.0000% | 8h | 446.41 | −0.112% | $553K | $84K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.29 | −0.140% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.42 | −0.110% | $2K | $5.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.25 | −0.148% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.01 | −0.425% | $1.5M | $457K | 10x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 446.43 | −0.107% | $231K | $585K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.21 | −0.157% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.01 | −0.201% | $10.3M | $2.5M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.19 | −0.161% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.03 | −0.197% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.13 | −0.175% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 446.06 | −0.190% | $270K | $323K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.35 | −0.125% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.40 | −0.113% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.17 | −0.166% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +0.853% | $7K | $38K | 12x | as long as short |
| Lighter TSMlong | +0.0352% | 1h | 446.91 | long leg | $504K | $166K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0423% | 1h | 446.34 | −0.128% | $4 | $61K | 10x | as long as short |
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
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
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL