Funding you earn now, next payment 10:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h −0.032%
Price spread now: tradeXYZ against Lighter−0.041%7-day average −0.172% · you buy dearer than you sell
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$670.666% of the position
Funding, last 7 days−0.305%−$30 on $10k
+Price spread, last 4 days (all we have)−0.142%−$14 · spread now −0.041%, 7d avg −0.172%
=Together, before fees−0.446%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board−$45 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and tradeXYZ is 0.132% dearer against Lighter than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.172%. Mind the row above: over the last 7 days funding on this pair cost −0.305%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 439.77 | 0.0032 | pay 0.0004% / 1h | 57m 12s | $495K | $143K | 10x |
| Short | tradeXYZ xyz:TSM | 439.59 | 0.0050 | get 0.0006% / 1h | 57m 12s | $10.1M | $2.0M | 10x |
Lighter TSM
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $3.78
- Price spread: −0.041% → −0.172%
- $13.15
- Slippage, 4 orders
- −$48.59
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$49.66
- Costs to cover
- 0.666%
- Break-even
- 99.0 days
Slippage from Lighter: live order book, 28 min ago; tradeXYZ: live order book, 11 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, 28 min ago | 19.88 bp | 20.1 bp −$20 | 24.3 bp −$243 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 11 min ago | 0.46 bp | 11.7 bp −$12 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0016% | 1h | 439.24 | −0.121% | $371K | $98K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.77 | +0.001% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.61 | −0.036% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.11 | +0.077% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.79 | +0.005% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 440.03 | +0.059% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.05 | +0.064% | $551K | $44K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.04 | +0.061% | $2K | $3.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.26 | +0.111% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.20 | +0.098% | $1.5M | $543K | 10x | as long as short |
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
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 | |
|---|---|---|---|---|---|---|---|---|
| Binance TSMUSDT | +0.0031% | 8h | 440.02 | +0.056% | $12.9M | $8.3M | 20x | as long as short |
| Lighter TSMlong | +0.0032% | 1h | 439.77 | long leg | $495K | $143K | 10x | |
| Extended TSM-USD | +0.0032% | 1h | 439.88 | +0.026% | $1K | $214K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.62 | −0.034% | — | $2K | 25x | as long as short |
| BloFin TSM-USDT | +0.0049% | 8h | 440.17 | +0.091% | $45K | $111K | 20x | as long as short |
| tradeXYZ xyz:TSMshort | +0.0050% | 1h | 439.59 | −0.041% | $10.1M | $2.0M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.52 | −0.057% | $190K | $67K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.62 | −0.034% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.93 | +0.036% | $158K | $27K | 10x | as long as short |
| Lighter RH TSM | +0.0072% | 1h | 439.81 | +0.009% | $196K | $724K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.47 | −0.068% | $267K | $373K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.89 | +0.027% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.89 | +0.027% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0145% | 1h | 439.86 | +0.020% | $209K | $10K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +0.950% | $6K | $38K | 12x | as long as short |
| GRVT TSM_USDT_Perp | +0.0238% | 8h | 439.96 | +0.044% | $12K | $1.3M | 10x | as long as short |
| edgeX TSMUSDC | +0.0568% | 4h | 440.17 | +0.091% | $47K | $215K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0933% | 1h | 439.93 | +0.036% | $4 | $13K | 10x | as long as short |
Binance TSMUSDT
Extended TSM-USD
Vest TSM-USD-PERP
BloFin TSM-USDT
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Lighter RH TSM
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
GRVT TSM_USDT_Perp
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL