Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.065%
Price spread now: OKX against Lighter−0.083%7-day average −0.123% · you buy dearer than you sell
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$580.576% of the position
Funding, last 7 days−0.409%−$41 on $10k
+Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.083%, 7d avg −0.123%
=Together, before fees−0.402%+ Points / potential airdropLighter: Season 3 · farm board−$40 on $10k · with fees, hour by hour
The price spread pays, funding is against you. OKX is 0.040% dearer against Lighter than usual: you sell high and buy low (spread −0.083% now, against its 7-day average of −0.123%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 7 days (−0.409% in total) that is about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 443.57 | 0.0032 | pay 0.0004% / 1h | 6m 31s | $501K | $173K | 10x |
| Short | OKX TSM-USDT-SWAP | 443.20 | 0 | get 0.0000% / 8h | 5h 06m | $4.0M | $2.4M | 20x |
Lighter TSM
OKX TSM-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$6.72
- Price spread: −0.083% → −0.123%
- $4
- Slippage, 4 orders
- −$47.56
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$60.28
- Costs to cover
- 0.576%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 49 min ago; OKX: live order book, 1 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, 49 min ago | 9.45 bp | 9.5 bp −$9 | 13.7 bp −$137 | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 1.35 bp | 9.3 bp −$9 | 21.5 bp −$215 | 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 | 443.50 | −0.017% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.00 | −0.129% | $2.0M | $382K | 50x | as long as short |
| OKX TSM-USDT-SWAPshort | 0.0000% | 8h | 443.20 | −0.083% | $4.0M | $2.4M | 20x | |
| Gate TSM_USDT | 0.0000% | 8h | 443.12 | −0.101% | $1.7M | $961K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.45 | −0.027% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.57 | 0.000% | $549K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.28 | −0.065% | $1K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 443.21 | −0.081% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 443.44 | −0.029% | $1.5M | $446K | 10x | as long as short |
| Lighter TSMlong | +0.0032% | 1h | 443.57 | long leg | $501K | $173K | 10x |
Aster TSMUSDT
Bybit TSMUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 443.27 | −0.068% | $221K | $645K | 10x | as long as short |
| Extended TSM-USD | +0.0040% | 1h | 443.24 | −0.075% | $2K | $189K | 10x | as long as short |
| BloFin TSM-USDT | +0.0041% | 8h | 443.33 | −0.054% | $45K | $98K | 20x | as long as short |
| Binance TSMUSDT | +0.0043% | 8h | 443.35 | −0.050% | $13.0M | $6.8M | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 442.77 | −0.180% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 442.91 | −0.149% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.06 | −0.115% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 442.85 | −0.162% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 442.72 | −0.192% | $158K | $23K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0088% | 8h | 443.33 | −0.054% | $11K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 442.93 | −0.144% | $268K | $318K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.24 | −0.074% | $21 | — | 10x | as long as short |
| edgeX TSMUSDC | +0.0103% | 4h | 443.45 | −0.028% | $48K | $216K | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.25 | −0.071% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.05 | −0.117% | $369K | $107K | 10x | as long as short |
| Phoenix TSM | +0.0217% | 1h | 443.70 | +0.029% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.46 | +1.102% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0721% | 1h | 443.34 | −0.052% | $4 | $24K | 10x | as long as short |
Lighter RH TSM
Extended TSM-USD
BloFin TSM-USDT
Binance TSMUSDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
edgeX TSMUSDC
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL