Funding you earn now, next payment 03:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.003%
Price spread now: Binance against Coinbase International+0.134%7-day average +0.209% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$400.404% of the position
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.134%, 7d avg +0.209%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.075% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.209%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 440.79 | 0.0120 | pay 0.0015% / 1h | 39m 35s | $368K | $102K | 10x |
| Short | Binance TSMUSDT | 441.38 | 0.0065 | get 0.0065% / 8h | 4h 39m | $13.0M | $7.1M | 20x |
Coinbase International TSM-PERP-INTX
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Coinbase International. 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
- −$11.58
- Price spread: +0.134% → +0.209%
- −$7.52
- Slippage, 4 orders
- −$20.42
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$59.52
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 18 min ago; Binance: live order book, 16 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 Coinbase International live order book, 18 min ago | 4.64 bp | 9.6 bp −$10 | 12.3 bp −$123 | doesn't fit | doesn't fit |
| Sell Binance live order book, 16 min ago | 0.68 bp | 10.3 bp −$10 | 24.2 bp −$242 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 441.61 | +0.186% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.19 | +0.091% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.44 | +0.147% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.24 | +0.102% | $1.7M | $1.0M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 441.45 | +0.150% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.51 | +0.164% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.62 | +0.188% | $1K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.41 | +0.141% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.93 | +0.259% | $1.5M | $461K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 441.62 | +0.188% | $497K | $175K | 10x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 441.34 | +0.125% | $220K | $642K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.18 | +0.088% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.02 | +0.052% | $10.2M | $2.2M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.28 | +0.111% | $194K | $52K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.20 | +0.093% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.02 | +0.052% | $158K | $23K | 10x | as long as short |
| BloFin TSM-USDT | +0.0051% | 8h | 441.60 | +0.184% | $45K | $99K | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 441.24 | +0.103% | $1K | $190K | 10x | as long as short |
| Binance TSMUSDTshort | +0.0065% | 8h | 441.38 | +0.134% | $13.0M | $7.1M | 20x | |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.01 | +0.050% | $268K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.52 | +0.166% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.53 | +0.168% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0120% | 1h | 440.79 | long leg | $368K | $102K | 10x | |
| GRVT TSM_USDT_Perp | +0.0122% | 8h | 441.58 | +0.179% | $16K | $1.2M | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 441.34 | +0.125% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.69 | +1.565% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0227% | 4h | 441.29 | +0.113% | $47K | $215K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0430% | 1h | 441.51 | +0.163% | $4 | $24K | 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
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL