TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0341%/8h= −37.3% APRnext payment −$0.43 per $10,000 · paid last 24h −0.024%

Price spread now: Injective against Deribit+1.159%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Injective is 1.159% dearer against Deribit than usual: you sell high and buy low (spread +1.159% now, against zero (this spread has no 7-day history yet)): +$116 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TSM_USDC-PERPETUAL	444.34	0.0561	pay 0.0070% / 1h	17m 00s	$4	$23K	10x
Short	Injective TSM/USDC PERP	449.49	0.0220	get 0.0028% / 1h	17m 00s	$7K	$38K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee InjectivebpOrdersPrice spread, now +1.159%Rate

Funding earned: −$71.58
Price spread: +1.159% → 0.000%: $115.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $37.3
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Deribit and Injective: 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 27 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	444.40	+0.014%	$82K	$1K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	444.02	−0.072%	$2.0M	$387K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	444.18	−0.036%	$4.0M	$2.4M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	444.13	−0.047%	$1.7M	$986K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	444.43	+0.020%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	444.30	−0.010%	$550K	$82K	—	as long as short
SunX TSM-USDT	0.0000%	8h	444.43	+0.020%	$1K	$4.5M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	444.16	−0.041%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	444.45	+0.025%	$1.5M	$448K	10x	as long as short
Extended TSM-USD	+0.0016%	1h	444.22	−0.026%	$4K	$197K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TSM-PERP-INTX	+0.0016%	1h	444.30	−0.009%	$371K	$105K	10x	as long as short
Binance TSMUSDT	+0.0019%	8h	444.34	0.000%	$13.0M	$6.8M	20x	as long as short
Lighter RH TSM	+0.0032%	1h	444.35	+0.002%	$229K	$637K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	443.90	−0.099%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	443.85	−0.110%	$10.2M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	444.16	−0.041%	$197K	$48K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	443.85	−0.110%	$138	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	443.75	−0.133%	$160K	$24K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	444.00	−0.077%	$270K	$316K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	444.29	−0.011%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	444.36	+0.004%	$124	—	10x	as long as short
GRVT TSM_USDT_Perp	+0.0140%	8h	444.34	+0.001%	$9K	$1.1M	10x	as long as short
Phoenix TSM	+0.0179%	1h	444.14	−0.045%	$216K	$5K	10x	as long as short
Injective TSM/USDC PERPshort	+0.0220%	1h	449.49	+1.159%	$7K	$38K	12x
edgeX TSMUSDC	+0.0348%	4h	444.28	−0.015%	$48K	$216K	10x	as long as short
Lighter TSM	+0.0376%	1h	444.93	+0.133%	$502K	$170K	10x	as long as short
Deribit TSM_USDC-PERPETUALlong	+0.0561%	1h	444.34	long leg	$4	$23K	10x