Funding you earn now, next payment 08:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.093%
Price spread now: Binance against Deribit+0.024%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—needs both histories
The price spread pays, funding is against you. Binance is 0.024% dearer against Deribit than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TSM_USDC-PERPETUAL | 440.03 | 0.0114 | pay 0.0014% / 1h | 10m 29s | $4 | $25K | 10x |
| Short | Binance TSMUSDT | 440.14 | 0.0061 | get 0.0061% / 8h | 10m 29s | $12.9M | $7.9M | 20x |
Deribit TSM_USDC-PERPETUAL
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Deribit. 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
- −$11
- Price spread: +0.024% → 0.000%
- $2.42
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$25.59
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Binance: live order book, 15 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 15 min ago | 1.02 bp | 11.8 bp −$12 | 28.1 bp −$281 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0043% | 8h | 440.06 | +0.007% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.16 | +0.028% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.99 | −0.009% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.04 | +0.002% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.95 | −0.018% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.07 | +0.009% | $559K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.12 | +0.020% | $1K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.14 | +0.025% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.76 | +0.166% | $1.5M | $522K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.99 | −0.009% | $495K | $190K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 439.90 | −0.030% | $222K | $725K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.86 | −0.039% | — | $2K | 25x | as long as short |
| BloFin TSM-USDT | +0.0049% | 8h | 440.36 | +0.075% | $45K | $107K | 20x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.75 | −0.064% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.89 | −0.032% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.70 | −0.075% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.93 | −0.023% | $157K | $28K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.159% | $366K | $97K | 10x | as long as short |
| Binance TSMUSDTshort | +0.0061% | 8h | 440.14 | +0.024% | $12.9M | $7.9M | 20x | |
| Extended TSM-USD | +0.0064% | 1h | 439.99 | −0.009% | $3K | $219K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0078% | 8h | 440.24 | +0.048% | $15K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.74 | −0.066% | $266K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.09 | +0.014% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.08 | +0.011% | $123 | — | 10x | as long as short |
| Deribit TSM_USDC-PERPETUALlong | +0.0114% | 1h | 440.03 | long leg | $4 | $25K | 10x | |
| Phoenix TSM | +0.0146% | 1h | 439.85 | −0.041% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.907% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0873% | 4h | 440.19 | +0.036% | $47K | $217K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
BloFin TSM-USDT
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Coinbase International TSM-PERP-INTX
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC