Funding you earn now, next payment 22:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h −0.027%
Price spread now: Coinbase International against Lighter RH−0.334%7-day average −0.247% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$240.238% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 3 days (all we have)+0.220%+$22 · spread now −0.334%, 7d avg −0.247%
=Together, before fees−0.032%+ Points / potential airdropLighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.087% cheaper against Lighter RH than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.247%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH TSM | 446.09 | 0.0032 | pay 0.0004% / 1h | 7m 33s | $225K | $602K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 444.60 | 0.0008 | get 0.0001% / 1h | 7m 33s | $356K | $96K | 10x |
Lighter RH TSM
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter RH. 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
- −$5.04
- Price spread: −0.334% → −0.247%
- −$8.65
- Slippage, 4 orders
- −$13.78
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$37.47
- Costs to cover
- 0.238%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 10 min ago; Coinbase International: live order book, 10 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 RH live order book, 10 min ago | 1.68 bp | 2.0 bp −$2 | 13.3 bp −$133 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 10 min ago | 4.49 bp | 9.5 bp −$9 | 13.8 bp −$138 | 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 | −0.0208% | 4h | 446.21 | +0.026% | $48K | $214K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.99 | −0.022% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.12 | +0.006% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.21 | +0.027% | $13.2M | $7.0M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.81 | −0.063% | $2.0M | $423K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.10 | +0.002% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.98 | −0.025% | $1.7M | $924K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.08 | −0.002% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.20 | +0.026% | $553K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.20 | +0.025% | $5K | $1.1M | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 446.23 | +0.031% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.04 | −0.011% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.03 | −0.238% | $1.5M | $473K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0008% | 1h | 444.60 | −0.334% | $356K | $96K | 10x | |
| BloFin TSM-USDT | +0.0029% | 8h | 446.23 | +0.031% | $44K | $105K | 20x | as long as short |
| Lighter RH TSMlong | +0.0032% | 1h | 446.09 | long leg | $225K | $602K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.00 | −0.020% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.72 | −0.083% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.83 | −0.058% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.89 | −0.045% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.66 | −0.096% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.64 | −0.101% | $271K | $328K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.11 | +0.004% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.17 | +0.017% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0162% | 1h | 446.27 | +0.040% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.856% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0356% | 1h | 446.12 | +0.007% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0384% | 1h | 446.57 | +0.108% | $504K | $167K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
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
Lighter TSM