Funding you earn now, next payment 10:00 UTC−0.0824%/8h= −90.2% APRnext payment −$1.03 per $10,000 · paid last 24h −0.099%
Price spread now: Coinbase International against Deribit−0.158%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Coinbase International is 0.158% cheaper against Deribit than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TSM_USDC-PERPETUAL | 442.64 | 0.0768 | pay 0.0096% / 1h | 3m 48s | $97 | $10K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 441.94 | −0.0056 | pay 0.0007% / 1h | 3m 48s | $373K | $110K | 10x |
Deribit TSM_USDC-PERPETUAL
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- −$172.97
- Price spread: −0.158% → 0.000%
- −$15.81
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$205.78
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 42 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 42 min ago | 5.77 bp | 10.8 bp −$11 | 13.0 bp −$130 | doesn't fit | doesn't fit |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
TSM on 28 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTXshort | −0.0056% | 1h | 441.94 | −0.158% | $373K | $110K | 10x | |
| Aster TSMUSDT | 0.0000% | 8h | 442.14 | −0.113% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.91 | −0.165% | $2.0M | $397K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 442.15 | −0.111% | $4.1M | $2.8M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 442.23 | −0.093% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 442.21 | −0.097% | $1.8M | $1.5M | 20x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 442.62 | −0.005% | $2K | $3.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 442.63 | −0.002% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 442.09 | −0.124% | $1.5M | $570K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 442.21 | −0.097% | $498K | $143K | 10x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 442.28 | −0.081% | $203K | $693K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0033% | 1h | 443.95 | +0.296% | $6K | $38K | 12x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 442.24 | −0.090% | — | $2K | 25x | as long as short |
| Variational Omni TSM | +0.0048% | 8h | 442.58 | −0.014% | $551K | $47K | — | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.63 | −0.228% | $10.1M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 442.31 | −0.075% | $187K | $71K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 442.17 | −0.106% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.98 | −0.149% | $161K | $36K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.96 | −0.154% | $268K | $488K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 442.53 | −0.025% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 442.57 | −0.016% | $124 | — | 10x | as long as short |
| BloFin TSM-USDT | +0.0114% | 8h | 442.64 | 0.000% | $46K | $119K | 20x | as long as short |
| Extended TSM-USD | +0.0128% | 1h | 442.25 | −0.087% | $6K | $222K | 10x | as long as short |
| Binance TSMUSDT | +0.0131% | 8h | 442.33 | −0.070% | $13.2M | $8.8M | 20x | as long as short |
| Phoenix TSM | +0.0253% | 1h | 442.24 | −0.090% | $206K | $10K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0315% | 8h | 442.58 | −0.014% | $8K | $1.4M | 10x | as long as short |
| edgeX TSMUSDC | +0.0337% | 4h | 442.65 | +0.001% | $48K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUALlong | +0.0768% | 1h | 442.64 | long leg | $97 | $10K | 10x |
Lighter RH TSM
Injective TSM/USDC PERP
Vest TSM-USD-PERP
Variational Omni TSM
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
BloFin TSM-USDT
Extended TSM-USD
Binance TSMUSDT
Phoenix TSM
GRVT TSM_USDT_Perp
edgeX TSMUSDC