TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0187%/8h= −20.5% APRnext payment −$1.87 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against Variational Omni+0.110%7-day average +0.022% · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.110%, 7d avg +0.022%

Together, before fees−0.046%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.088% dearer against Variational Omni than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.022%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 37 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.013% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.87 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TSM	439.85	0	get 0.0000% / 8h	1h 50m	$557K	$36K	—
Short	Bitget TSMUSDT	440.33	−0.0187	pay 0.0187% / 8h	1h 50m	$1.7M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BitgetbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$39.27
Price spread: +0.110% → +0.022%: $8.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.52
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 59 min ago; Bitget: live order book, 1 min ago. 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 Variational Omni RFQ quote, 59 min ago	2.15 bp	doesn't fit	33.7 bp −$337	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	3.75 bp	10.8 bp −$11	18.5 bp −$185	59.4 bp −$5,939	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	−0.0187%	8h	440.33	+0.110%	$1.7M	$1.5M	20x
Aster TSMUSDT	0.0000%	8h	440.12	+0.061%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.74	−0.024%	$2.0M	$396K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	439.90	+0.012%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.71	−0.031%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSMlong	0.0000%	8h	439.85	long leg	$557K	$36K	—
SunX TSM-USDT	0.0000%	8h	439.93	+0.019%	$2K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.96	+0.026%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.74	+0.203%	$1.5M	$515K	10x	as long as short
Lighter TSM	+0.0032%	1h	440.10	+0.057%	$496K	$137K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	439.89	+0.010%	$225K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.37	−0.109%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.118%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.48	−0.084%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.77	−0.018%	$192K	$63K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.38	−0.106%	$134	$3K	10x	as long as short
BloFin TSM-USDT	+0.0050%	8h	439.94	+0.021%	$45K	$105K	20x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.36	−0.111%	$157K	$27K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	439.96	+0.026%	$5K	$179K	10x	as long as short
Binance TSMUSDT	+0.0066%	8h	440.08	+0.053%	$12.9M	$7.9M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0068%	8h	439.96	+0.026%	$4K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.65	−0.045%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.67	−0.040%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.72	−0.030%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.71	−0.031%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.31	+1.242%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0706%	1h	439.59	−0.059%	$97	$25K	10x	as long as short
edgeX TSMUSDC	+0.0890%	4h	439.89	+0.010%	$47K	$216K	10x	as long as short