TSM

Alert

Funding spread now, next payment 15:00 UTC−0.0250%/8h

paid, last 24h−0.106%paid, last 3 days−0.320%to open and closeno order book

Long on Deribit Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TSM_USDC-PERPETUAL	440.32	0.0250	pay 0.0031% / 1h	29m 10s	$4	$59K	10x
Short	Variational Omni TSM	441.00	0	get 0.0000% / 8h	1h 29m	$555K	$102K	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Variational OmnibpOrdersRate

Funding earned: −$52.48
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$59.48
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 26 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.155%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 26 min ago	3.08 bp	doesn't fit	26.4 bp −$264	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 27 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International TSM-PERP-INTX	−0.0032%	1h	$352K	$78K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	$81K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	$4K	$166K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	$12.9M	$5.0M	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	$2.0M	$305K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	$3.8M	$2.2M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	$1.8M	$679K	100x	as long as short
Variational Omni TSMshort	0.0000%	8h	$555K	$102K	—
SunX TSM-USDT	0.0000%	8h	$2K	$4.6M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	$9K	$6K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex TSMUSDT	0.0000%	8h	$1.5M	$327K	10x	as long as short
BloFin TSM-USDT	+0.0007%	8h	$45K	$79K	20x	as long as short
Lighter TSM	+0.0032%	1h	$497K	$101K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	$233K	$1.1M	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	$10.4M	$1.9M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	$178K	$51K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	$145	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	$155K	$14K	10x	as long as short
Bitget TSMUSDT	+0.0083%	8h	$1.7M	$939K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	$271K	$322K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	$123	—	10x	as long as short
Phoenix TSM	+0.0182%	1h	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUALlong	+0.0250%	1h	$4	$59K	10x
edgeX TSMUSDC	+0.0457%	4h	$47K	$215K	10x	as long as short