TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h −0.067%

Price spread now: Ondo Perps against Deribit−0.056%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Ondo Perps

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 airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.056% cheaper against Deribit than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 5.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TSM_USDC-PERPETUAL	446.64	0.0019	pay 0.0002% / 1h	14m 23s	$4	$61K	10x
Short	Ondo Perps TSM-USD.P	446.39	0.0050	get 0.0006% / 1h	14m 23s	$159K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Deribit. 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 DeribitbpFee Ondo PerpsbpOrdersPrice spread, now −0.056%Rate

Funding earned: $6.65
Price spread: −0.056% → 0.000%: −$5.6
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$10.95
Costs to cover: 0.120%
Break-even: 18.5 days

Slippage unknown: Deribit: no order-book sample; Ondo Perps: 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 Deribit no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Deribit and Ondo Perps: 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
Coinbase International TSM-PERP-INTX	−0.0024%	1h	446.18	−0.103%	$357K	$97K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	446.61	−0.006%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	446.69	+0.012%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	446.78	+0.032%	$13.2M	$6.7M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	446.56	−0.018%	$2.0M	$415K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	446.76	+0.027%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	446.40	−0.054%	$1.7M	$910K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	446.73	+0.020%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	446.83	+0.043%	$553K	$84K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	446.81	+0.038%	$7K	$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	446.74	+0.022%	$1K	$5.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	446.62	−0.004%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	446.93	+0.065%	$1.5M	$454K	10x	as long as short
BloFin TSM-USDT	0.0000%	8h	446.78	+0.031%	$44K	$103K	20x	as long as short
Deribit TSM_USDC-PERPETUALlong	+0.0019%	1h	446.64	long leg	$4	$61K	10x
Lighter RH TSM	+0.0032%	1h	446.87	+0.051%	$229K	$596K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	446.72	+0.018%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	446.48	−0.036%	$10.3M	$2.4M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	446.48	−0.036%	$196K	$90K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	446.45	−0.043%	$144	$3K	10x	as long as short
Ondo Perps TSM-USD.Pshort	+0.0050%	1h	446.39	−0.056%	$159K	$22K	10x
KuCoin TSMUSDTM	+0.0100%	8h	446.32	−0.072%	$270K	$318K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	446.77	+0.029%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	446.82	+0.041%	$125	—	10x	as long as short
Phoenix TSM	+0.0215%	1h	446.78	+0.031%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.72	+0.913%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0264%	1h	447.26	+0.139%	$505K	$166K	10x	as long as short
edgeX TSMUSDC	+0.0458%	4h	446.82	+0.041%	$48K	$216K	10x	as long as short