Funding you earn now, next payment 11:00 UTC+0.0290%/8h= +31.8% APRpaid last 24h −0.063%
Price spread now: Lighter RH against edgeX+0.009%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$250.251% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.009%, 7d avg +0.029%
=Together, before fees+0.133%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board+$13 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.020% cheaper against edgeX than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.029%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.086% in total) that is about 40 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX TSMUSDC | 441.89 | −0.0258 | get 0.0129% / 4h | 1h 26m | $48K | $215K | 10x |
| Short | Lighter RH TSM | 441.93 | 0.0032 | get 0.0004% / 1h | 26m 58s | $198K | $687K | 10x |
edgeX TSMUSDC
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against edgeX. 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
- $60.99
- Price spread: +0.009% → +0.029%
- −$2.05
- Slippage, 4 orders
- −$16.06
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $33.89
- Costs to cover
- 0.251%
- Break-even
- 3.1 days
Slippage from edgeX: live order book, 18 min ago; Lighter RH: live order book, 19 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 edgeX live order book, 18 min ago | 5.32 bp | 10.0 bp −$10 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 19 min ago | 1.81 bp | 2.4 bp −$2 | 8.3 bp −$83 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDClong | −0.0258% | 4h | 441.89 | long leg | $48K | $215K | 10x | |
| Coinbase International TSM-PERP-INTX | −0.0056% | 1h | 441.37 | −0.118% | $373K | $109K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 442.09 | +0.044% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.65 | −0.055% | $2.0M | $392K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.92 | +0.006% | $4.1M | $2.8M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.77 | −0.028% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 441.92 | +0.006% | $1.8M | $1.5M | 20x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.91 | +0.004% | $2K | $3.7M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 441.75 | −0.032% | $97 | $10K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.80 | −0.021% | $9K | $8K | 20x | as long as short |
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDT | 0.0000% | 8h | 441.37 | −0.118% | $1.5M | $567K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 442.09 | +0.045% | $498K | $143K | 10x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 441.93 | +0.009% | $198K | $687K | 10x | |
| Injective TSM/USDC PERP | +0.0033% | 1h | 443.95 | +0.466% | $6K | $38K | 12x | as long as short |
| Variational Omni TSM | +0.0040% | 8h | 441.71 | −0.042% | $554K | $44K | — | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.37 | −0.118% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.55 | −0.077% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.64 | −0.057% | $187K | $71K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.53 | −0.082% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.40 | −0.111% | $156K | $33K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.62 | −0.062% | $268K | $466K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.88 | −0.003% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.84 | −0.012% | $124 | — | 10x | as long as short |
| Binance TSMUSDT | +0.0109% | 8h | 441.93 | +0.009% | $13.0M | $8.6M | 20x | as long as short |
| Extended TSM-USD | +0.0112% | 1h | 441.78 | −0.025% | $5K | $216K | 10x | as long as short |
| BloFin TSM-USDT | +0.0125% | 8h | 442.06 | +0.038% | $46K | $117K | 20x | as long as short |
| Phoenix TSM | +0.0253% | 1h | 441.96 | +0.015% | $210K | $10K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0335% | 8h | 442.20 | +0.070% | $8K | $1.3M | 10x | as long as short |
Phemex TSMUSDT
Lighter TSM
Injective TSM/USDC PERP
Variational Omni TSM
Vest TSM-USD-PERP
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
Binance TSMUSDT
Extended TSM-USD
BloFin TSM-USDT
Phoenix TSM
GRVT TSM_USDT_Perp