Funding you earn now, next payment 07:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.006%
Price spread now: Coinbase International against Binance+0.025%7-day average −0.208% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$400.404% of the position
Funding, last 7 days+0.120%+$12 on $10k
+Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.025%, 7d avg −0.208%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.233% dearer against Binance than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.208%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TSMUSDT | 439.22 | 0.0057 | pay 0.0057% / 8h | 50m 27s | $12.8M | $8.0M | 20x |
| Short | Coinbase International TSM-PERP-INTX | 439.33 | 0.0056 | get 0.0007% / 1h | 50m 27s | $366K | $99K | 10x |
Binance TSMUSDT
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Binance. 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
- −$0.16
- Price spread: +0.025% → −0.208%
- $23.34
- Slippage, 4 orders
- −$20.35
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$17.16
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 min ago; Coinbase International: live order book, 53 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 Binance live order book, 5 min ago | 1.02 bp | 9.9 bp −$10 | 26.4 bp −$264 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 53 min ago | 5.01 bp | 10.9 bp −$11 | 13.2 bp −$132 | 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 | −0.0727% | 4h | 439.57 | +0.080% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0165% | 8h | 439.40 | +0.041% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.09 | −0.029% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.00 | −0.050% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.32 | +0.023% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.05 | −0.039% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.35 | +0.029% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.44 | +0.050% | $2K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.43 | +0.048% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.43 | +0.275% | $1.5M | $525K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 439.21 | −0.002% | $495K | $185K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 438.88 | −0.077% | $221K | $720K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0036% | 1h | 438.77 | −0.102% | $10.1M | $1.8M | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 438.84 | −0.087% | — | $2K | 25x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 438.98 | −0.055% | $189K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.05 | −0.039% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.66 | −0.127% | $158K | $27K | 10x | as long as short |
| BloFin TSM-USDT | +0.0055% | 8h | 439.50 | +0.064% | $45K | $106K | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.11 | −0.024% | $2K | $149K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0056% | 1h | 439.33 | +0.025% | $366K | $99K | 10x | |
| Binance TSMUSDTlong | +0.0057% | 8h | 439.22 | long leg | $12.8M | $8.0M | 20x | |
| GRVT TSM_USDT_Perp | +0.0065% | 8h | 439.68 | +0.105% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 438.88 | −0.077% | $267K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.21 | −0.002% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.40 | +0.041% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.40 | +0.041% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +1.093% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0456% | 1h | 439.27 | +0.011% | $4 | $25K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
tradeXYZ xyz:TSM
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL