Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h +0.053%
Price spread now: Lighter against Coinbase International+0.073%7-day average +0.287% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$590.589% of the position
Funding, last 7 days+0.542%+$54 on $10k
+Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.073%, 7d avg +0.287%
=Together, before fees+0.562%+ Points / potential airdropLighter: Season 3 · farm board+$56 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.214% cheaper against Coinbase International than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.287%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.542%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 440.03 | 0.0088 | pay 0.0011% / 1h | 7m 02s | $367K | $102K | 10x |
| Short | Lighter TSM | 440.35 | 0.0032 | get 0.0004% / 1h | 7m 02s | $496K | $176K | 10x |
Coinbase International TSM-PERP-INTX
Lighter TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$11.76
- Price spread: +0.073% → +0.287%
- −$21.44
- Slippage, 4 orders
- −$48.9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$92.1
- Costs to cover
- 0.589%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 46 min ago; Lighter: live order book, 38 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, 46 min ago | 3.06 bp | 8.5 bp −$9 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 38 min ago | 15.07 bp | 26.0 bp −$26 | 30.7 bp −$307 | 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 | −0.0980% | 4h | 440.31 | +0.063% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0220% | 8h | 440.33 | +0.068% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.46 | +0.098% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.20 | +0.039% | $2.0M | $389K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.43 | +0.091% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.11 | +0.018% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.48 | +0.102% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.34 | +0.070% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.28 | +0.057% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.68 | +0.148% | $1.5M | $488K | 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 TSMshort | +0.0032% | 1h | 440.35 | +0.073% | $496K | $176K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 440.28 | +0.057% | $219K | $677K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.03 | 0.000% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.95 | −0.018% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.10 | +0.016% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.95 | −0.018% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.11 | +0.018% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0064% | 8h | 440.39 | +0.082% | $12.9M | $7.5M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.20 | +0.038% | $5K | $188K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0071% | 8h | 440.39 | +0.081% | $10K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0084% | 8h | 440.38 | +0.080% | $45K | $101K | 20x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0088% | 1h | 440.03 | long leg | $367K | $102K | 10x | |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.09 | +0.014% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.29 | +0.059% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.28 | +0.057% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 440.27 | +0.055% | $214K | $5K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0205% | 1h | 440.23 | +0.045% | $4 | $24K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.173% | $6K | $38K | 12x | 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
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP