Funding you earn now, next payment 02:00 UTC−0.0102%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h +0.014%
Price spread now: Polymarket Perps against Coinbase International+0.097%7-day average +0.136% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Funding, last 7 days+0.271%+$27 on $10k
+Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.097%, 7d avg +0.136%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Polymarket Perps is 0.039% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.136%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.271%, 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 | 443.28 | 0.0152 | pay 0.0019% / 1h | 26m 09s | $370K | $107K | 10x |
| Short | Polymarket Perps TSM-USD | 443.71 | 0.0050 | get 0.0006% / 1h | 26m 09s | $196K | $51K | 10x |
Coinbase International TSM-PERP-INTX
Polymarket Perps TSM-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$21.42
- Price spread: +0.097% → +0.136%
- −$3.88
- Slippage, 4 orders
- −$13.02
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$56.32
- Costs to cover
- 0.310%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 37 min ago; Polymarket Perps: live order book, 36 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, 37 min ago | 3.95 bp | 8.9 bp −$9 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 36 min ago | 1.69 bp | 7.0 bp −$7 | 8.3 bp −$83 | 10.0 bp −$1,000 | 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 | 444.29 | +0.228% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.90 | +0.140% | $2.0M | $392K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.89 | +0.138% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.90 | +0.140% | $1.7M | $958K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.99 | +0.160% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.17 | +0.201% | $550K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.05 | +0.174% | $1K | $4.4M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 443.90 | +0.140% | $98 | $24K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.04 | +0.171% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.14 | +0.194% | $1.5M | $444K | 10x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
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 | 444.33 | +0.237% | $501K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.00 | +0.162% | $221K | $645K | 10x | as long as short |
| Binance TSMUSDT | +0.0040% | 8h | 444.04 | +0.172% | $13.0M | $6.8M | 20x | as long as short |
| Extended TSM-USD | +0.0040% | 1h | 443.92 | +0.144% | $1K | $191K | 10x | as long as short |
| BloFin TSM-USDT | +0.0043% | 8h | 444.03 | +0.169% | $45K | $98K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.67 | +0.088% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.62 | +0.077% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USDshort | +0.0050% | 1h | 443.71 | +0.097% | $196K | $51K | 10x | |
| SoDEX TSM-USD | +0.0050% | 1h | 443.75 | +0.106% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.55 | +0.061% | $159K | $23K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.78 | +0.113% | $270K | $320K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.00 | +0.162% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.04 | +0.172% | $124 | — | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0125% | 8h | 444.08 | +0.182% | $9K | $1.1M | 10x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0152% | 1h | 443.28 | long leg | $370K | $107K | 10x | |
| Phoenix TSM | +0.0217% | 1h | 443.98 | +0.158% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.49 | +1.175% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0389% | 4h | 444.09 | +0.184% | $48K | $215K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Binance TSMUSDT
Extended TSM-USD
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC