Funding you earn now, next payment 23:00 UTC−0.0456%/8h= −49.9% APRpaid last 24h −0.057%
Price spread now: Variational Omni against Lighter−0.197%7-day average −0.086% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.087%−$9 on $10k
+Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.197%, 7d avg −0.086%
=Together, before fees+0.017%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Variational Omni is 0.111% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.086%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.087% in total (about -9.7% a year). A funding rate is set anew for every payment. 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 | Lighter TSM | 446.52 | 0.0456 | pay 0.0057% / 1h | 27m 24s | $504K | $167K | 10x |
| Short | Variational Omni TSM | 445.64 | 0 | get 0.0000% / 8h | 1h 27m | $552K | $85K | — |
Lighter TSM
Variational Omni TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$95.76
- Price spread: −0.197% → −0.086%
- −$11.08
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$106.84
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 48 min ago; Variational Omni: RFQ quote, 57 min ago. Net counts fees only.
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, 48 min ago | 0.11 bp | 12.4 bp −$12 | 16.9 bp −$169 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 57 min ago | 2.89 bp | doesn't fit | 34.1 bp −$341 | 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 | 445.73 | −0.178% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.79 | −0.163% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.87 | −0.145% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.64 | −0.197% | $2.0M | $421K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.84 | −0.152% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.60 | −0.206% | $1.7M | $921K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.82 | −0.157% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSMshort | 0.0000% | 8h | 445.64 | −0.197% | $552K | $85K | — | |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.82 | −0.157% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.91 | −0.137% | $1K | $5.4M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 445.42 | −0.246% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.21 | −0.293% | $1.5M | $469K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.430% | $356K | $96K | 10x | as long as short |
| BloFin TSM-USDT | +0.0018% | 8h | 445.84 | −0.152% | $44K | $104K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.00 | −0.116% | $225K | $598K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.73 | −0.177% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.64 | −0.197% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.70 | −0.184% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.62 | −0.202% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.78 | −0.166% | $159K | $22K | 10x | as long as short |
| edgeX TSMUSDC | +0.0058% | 4h | 445.72 | −0.178% | $48K | $214K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0064% | 1h | 445.82 | −0.157% | $4 | $61K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.43 | −0.244% | $270K | $336K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.77 | −0.168% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.93 | −0.132% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0162% | 1h | 445.51 | −0.226% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.759% | $7K | $38K | 12x | as long as short |
| Lighter TSMlong | +0.0456% | 1h | 446.52 | long leg | $504K | $167K | 10x |
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
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
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP