TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.7% APRnext payment +$0.16 per $10,000 · paid last 24h +0.006%

Price spread now: Binance against OKX+0.002%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.250%−$25 on $10k

Price spread, last 2 days (all we have)+0.077%+$8 · spread now +0.002%, 7d avg +0.038%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.036% cheaper against OKX than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.038%). If the spread goes back, that is −$4 on $10k: about 7.7 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.250%, 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	OKX TSM-USDT-SWAP	444.31	0	get 0.0000% / 8h	6h 19m	$4.0M	$2.4M	20x
Short	Binance TSMUSDT	444.32	0.0016	get 0.0016% / 8h	6h 19m	$13.0M	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.002%Rate

Funding earned: $3.29
Price spread: +0.002% → +0.038%: −$3.62
Slippage, 4 orders: −$20.57
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.9
Costs to cover: 0.406%
Break-even: 94.1 days

Slippage from OKX: live order book, 3 min ago; Binance: live order book, 5 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 OKX live order book, 3 min ago	1.35 bp	10.0 bp −$10	21.8 bp −$218	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.22 bp	10.4 bp −$10	25.5 bp −$255	doesn't fit	doesn't fit

TSM on 27 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	444.23	−0.017%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.95	−0.081%	$2.0M	$387K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	444.31	long leg	$4.0M	$2.4M	20x
Gate TSM_USDT	0.0000%	8h	444.10	−0.047%	$1.7M	$985K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.38	+0.016%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.30	−0.003%	$550K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.37	+0.014%	$1K	$4.6M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.38	+0.016%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.34	+0.007%	$1.5M	$453K	10x	as long as short
Binance TSMUSDTshort	+0.0016%	8h	444.32	+0.002%	$13.0M	$6.9M	20x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TSM-USD	+0.0016%	1h	444.20	−0.025%	$4K	$197K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.30	−0.002%	$371K	$105K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	444.31	0.000%	$229K	$637K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.91	−0.090%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.80	−0.115%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.11	−0.045%	$197K	$48K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.88	−0.097%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.13	−0.041%	$160K	$25K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.96	−0.079%	$270K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.22	−0.020%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.29	−0.005%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0137%	8h	444.44	+0.029%	$7K	$1.1M	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.11	−0.045%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.49	+1.166%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0290%	4h	444.43	+0.026%	$48K	$216K	10x	as long as short
Lighter TSM	+0.0368%	1h	444.81	+0.113%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0539%	1h	444.19	−0.027%	$4	$23K	10x	as long as short