Funding you earn now, next payment 07:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h −0.047%
Price spread now: Coinbase International against Lighter−0.011%7-day average −0.285% · you buy dearer than you sell
Net, funding: paid 7d − costs−$115as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$630.627% of the position
Funding, last 7 days−0.521%−$52 on $10k
+Price spread, last 4 days (all we have)−0.072%−$7 · spread now −0.011%, 7d avg −0.285%
=Together, before fees−0.592%+ Points / potential airdropLighter: Season 3 · farm board−$59 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.273% dearer against Lighter than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.285%. Mind the row above: over the last 7 days funding on this pair cost −0.521%, 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 | Lighter TSM | 439.38 | 0.0032 | pay 0.0004% / 1h | 49m 00s | $495K | $185K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 439.33 | 0.0056 | get 0.0007% / 1h | 49m 00s | $366K | $99K | 10x |
Lighter TSM
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- $5.04
- Price spread: −0.011% → −0.285%
- $27.32
- Slippage, 4 orders
- −$52.67
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$30.31
- Costs to cover
- 0.627%
- Break-even
- 49.1 days
Slippage from Lighter: live order book, 46 min ago; Coinbase International: live order book, 54 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 Lighter live order book, 46 min ago | 16.60 bp | 16.8 bp −$17 | 21.0 bp −$210 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 54 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 | −0.0513% | 4h | 439.41 | +0.007% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0166% | 8h | 439.42 | +0.009% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.40 | +0.005% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.16 | −0.050% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.61 | +0.052% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.22 | −0.036% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.35 | −0.007% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.43 | +0.011% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.43 | +0.011% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.46 | +0.246% | $1.5M | $528K | 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 TSMlong | +0.0032% | 1h | 439.38 | long leg | $495K | $185K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 439.12 | −0.059% | $221K | $720K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 438.92 | −0.105% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 438.92 | −0.105% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.11 | −0.061% | $189K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 438.87 | −0.116% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.66 | −0.164% | $158K | $27K | 10x | as long as short |
| BloFin TSM-USDT | +0.0053% | 8h | 439.36 | −0.005% | $45K | $106K | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.43 | +0.012% | $4K | $153K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0056% | 1h | 439.33 | −0.011% | $366K | $99K | 10x | |
| Binance TSMUSDT | +0.0057% | 8h | 439.53 | +0.034% | $12.8M | $8.0M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0063% | 8h | 439.22 | −0.037% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.05 | −0.075% | $266K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.32 | −0.014% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.33 | −0.012% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.12 | −0.059% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +1.056% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0365% | 1h | 439.28 | −0.023% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL