TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0324%/8h= +35.4% APRnext payment +$0.40 per $10,000 · paid last 24h +0.069%

Price spread now: Deribit against Lighter RH−0.031%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.031% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH TSM	446.26	0.0032	pay 0.0004% / 1h	8m 14s	$225K	$602K	10x
Short	Deribit TSM_USDC-PERPETUAL	446.12	0.0356	get 0.0044% / 1h	8m 14s	$4	$61K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $67.96
Price spread: −0.031% → 0.000%: −$3.14
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $57.82
Costs to cover: 0.070%
Break-even: 1.0 days

Slippage unknown: Lighter RH: live order book, 9 min ago; Deribit: no order-book sample. 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 RH live order book, 9 min ago	1.68 bp	2.0 bp −$2	13.3 bp −$133	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.012%	$48K	$214K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	446.07	−0.043%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.11	−0.034%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.20	−0.014%	$13.2M	$7.0M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	445.86	−0.090%	$2.0M	$423K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.22	−0.009%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	445.98	−0.063%	$1.7M	$924K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	446.08	−0.040%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	446.20	−0.012%	$553K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	446.23	−0.007%	$5K	$1.1M	10x	as long as short

Show 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	−0.007%	$2K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.04	−0.049%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.03	−0.276%	$1.5M	$473K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.372%	$356K	$96K	10x	as long as short
BloFin TSM-USDT	+0.0029%	8h	446.23	−0.007%	$44K	$105K	20x	as long as short
Lighter RH TSMlong	+0.0032%	1h	446.26	long leg	$225K	$602K	10x
Vest TSM-USD-PERP	+0.0046%	1h	446.00	−0.058%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	445.81	−0.101%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.83	−0.096%	$196K	$91K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	445.89	−0.083%	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	445.66	−0.134%	$159K	$22K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	445.72	−0.121%	$271K	$328K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.11	−0.034%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.17	−0.021%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	446.27	+0.002%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+0.818%	$7K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUALshort	+0.0356%	1h	446.12	−0.031%	$4	$61K	10x
Lighter TSM	+0.0384%	1h	446.66	+0.090%	$504K	$167K	10x	as long as short