TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0180%/8h= −19.7% APRnext payment −$1.80 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against OKX+0.116%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.116%, 7d avg +0.051%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.065% dearer against OKX than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of +0.051%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TSM-USDT-SWAP	439.88	0	get 0.0000% / 8h	1h 53m	$4.0M	$2.6M	20x
Short	Bitget TSMUSDT	440.39	−0.0180	pay 0.0180% / 8h	1h 53m	$1.7M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$37.8
Price spread: +0.116% → +0.051%: $6.52
Slippage, 4 orders: −$19.79
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$73.06
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bitget: live order book, 3 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 OKX live order book, 4 min ago	0.11 bp	7.6 bp −$8	18.6 bp −$186	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.89 bp	11.5 bp −$11	21.6 bp −$216	63.7 bp −$6,372	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
Bitget TSMUSDTshort	−0.0180%	8h	440.39	+0.116%	$1.7M	$1.5M	20x
edgeX TSMUSDC	−0.0104%	4h	440.03	+0.033%	$47K	$216K	10x	as long as short
Aster TSMUSDT	0.0000%	8h	440.07	+0.042%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.74	−0.032%	$2.0M	$396K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	439.88	long leg	$4.0M	$2.6M	20x
Gate TSM_USDT	0.0000%	8h	439.73	−0.034%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.02	+0.031%	$557K	$36K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.92	+0.009%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.96	+0.018%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.57	+0.157%	$1.5M	$515K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	440.08	+0.045%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.79	−0.020%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.32	−0.127%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.125%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.44	−0.100%	$10.2M	$1.8M	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.41	−0.107%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.94	+0.014%	$157K	$27K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	439.87	−0.002%	$5K	$179K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0065%	8h	440.08	+0.045%	$16K	$1.3M	10x	as long as short
Binance TSMUSDT	+0.0066%	8h	439.96	+0.018%	$12.9M	$7.9M	20x	as long as short
Polymarket Perps TSM-USD	+0.0078%	1h	439.68	−0.045%	$192K	$63K	10x	as long as short
BloFin TSM-USDT	+0.0081%	8h	440.14	+0.059%	$45K	$105K	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.60	−0.064%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.82	−0.014%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.84	−0.009%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.71	−0.039%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.31	+1.234%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0774%	1h	439.89	+0.002%	$97	$25K	10x	as long as short