TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0755%/8h= +82.6% APRnext payment +$0.94 per $10,000 · paid last 24h +0.067%

Price spread now: Deribit against Lighter RH−0.025%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on Deribit

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 airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.025% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$23 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH TSM	444.30	0.0032	pay 0.0004% / 1h	34m 56s	$222K	$630K	10x
Short	Deribit TSM_USDC-PERPETUAL	444.19	0.0787	get 0.0098% / 1h	34m 56s	$4	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter RH. 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 Lighter RHbpFee DeribitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $158.48
Price spread: −0.025% → 0.000%: −$2.48
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $149
Costs to cover: 0.070%
Break-even: 0.4 days

Slippage unknown: Lighter RH: live order book, 33 min ago; Deribit: 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 Lighter RH live order book, 33 min ago	2.35 bp	2.8 bp −$3	16.9 bp −$169	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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
Aster TSMUSDT	0.0000%	8h	444.26	−0.010%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	443.70	−0.135%	$2.0M	$402K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	443.88	−0.095%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.01	−0.065%	$1.7M	$935K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.20	−0.023%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.77	+0.106%	$551K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.38	+0.018%	$1K	$4.7M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.60	+0.068%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.41	+0.025%	$1.5M	$453K	10x	as long as short
Binance TSMUSDT	+0.0007%	8h	444.23	−0.015%	$13.0M	$7.0M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TSM-USD	+0.0008%	1h	444.12	−0.040%	$5K	$196K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.22	−0.018%	$366K	$102K	10x	as long as short
BloFin TSM-USDT	+0.0017%	8h	445.69	+0.313%	$45K	$99K	20x	as long as short
Lighter RH TSMlong	+0.0032%	1h	444.30	long leg	$222K	$630K	10x
Vest TSM-USD-PERP	+0.0046%	1h	444.09	−0.047%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.73	−0.128%	$10.2M	$2.3M	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.09	−0.047%	$142	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.42	+0.027%	$160K	$25K	10x	as long as short
Polymarket Perps TSM-USD	+0.0054%	1h	444.41	+0.025%	$200K	$45K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0066%	8h	444.89	+0.133%	$17K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	443.88	−0.095%	$269K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.28	−0.005%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.21	−0.019%	$124	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.44	+0.032%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	450.67	+1.434%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0416%	1h	444.64	+0.077%	$502K	$170K	10x	as long as short
edgeX TSMUSDC	+0.0704%	4h	444.76	+0.103%	$48K	$216K	10x	as long as short
Deribit TSM_USDC-PERPETUALshort	+0.0787%	1h	444.19	−0.025%	$4	$23K	10x