Funding you earn now, next payment 06:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.007%
Price spread now: BloFin against Coinbase International+0.068%58s7-day average +0.218% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$430.432% of the position
Funding, last 7 days+0.147%+$15 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.068%, 7d avg +0.218%
=Funding pays, the price is against you. BloFin is 0.150% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.068% now, against its 7-day average of +0.218%). If the spread goes back, that is −$15 on $10k: about 11 days of funding at the current rate (+$1 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 439.33 | 0.0048 | pay 0.0006% / 1h | 26m 20s | $366K | $102K | 10x |
| Short | BloFin TSM-USDT | 439.63 | 0.0095 | get 0.0095% / 8h | 1h 26m | $45K | $106K | 20x |
Coinbase International TSM-PERP-INTX
BloFin TSM-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $9.96
- Price spread: +0.068% → +0.218%
- −$14.99
- Slippage, 4 orders
- −$21.19
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$48.22
- Costs to cover
- 0.432%
- Break-even
- 40.9 days
Slippage from Coinbase International: live order book, 17 min ago; BloFin: live order book, 45 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, 17 min ago | 5.01 bp | 10.3 bp −$10 | 12.5 bp −$125 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 45 min ago | 0.68 bp | 10.8 bp −$11 | 17.6 bp −$176 | 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 | −0.0750% | 4h | 439.46 | +0.029% | $47K | $215K | 10x | as long as short |
| Bitget TSMUSDT | −0.0231% | 8h | 439.62 | +0.066% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.48 | +0.035% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.27 | −0.014% | $2.0M | $398K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.59 | +0.059% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.39 | +0.014% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.41 | +0.019% | $557K | $37K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.69 | +0.082% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.57 | +0.055% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.68 | +0.307% | $1.5M | $517K | 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 TSM | +0.0032% | 1h | 439.56 | +0.052% | $495K | $137K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.44 | +0.025% | $224K | $684K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.21 | −0.027% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0048% | 1h | 439.33 | long leg | $366K | $102K | 10x | |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.17 | −0.036% | $10.2M | $1.7M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.33 | 0.000% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.14 | −0.043% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.99 | −0.077% | $157K | $27K | 10x | as long as short |
| Binance TSMUSDT | +0.0080% | 8h | 439.67 | +0.078% | $12.9M | $7.9M | 20x | as long as short |
| Extended TSM-USD | +0.0080% | 1h | 439.56 | +0.051% | $3K | $155K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0088% | 8h | 439.40 | +0.016% | $14K | $1.3M | 10x | as long as short |
| BloFin TSM-USDTshort | +0.0095% | 8h | 439.63 | +0.068% | $45K | $106K | 20x | |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.09 | −0.055% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.56 | +0.052% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.57 | +0.055% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0164% | 1h | 439.25 | −0.018% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.27 | +1.124% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0775% | 1h | 439.49 | +0.036% | $4 | $25K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL