Funding you earn now, next payment 02:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.27 per $10,000 · paid last 24h +0.005%
Price spread now: Injective against Lighter+1.220%96s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread pays, funding is against you. Injective is 1.220% dearer against Lighter than usual: you sell high and buy low (spread +1.220% now, against zero (this spread has no 7-day history yet)): +$122 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 19 days. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 445.24 | 0.0432 | pay 0.0054% / 1h | 39m 47s | $502K | $170K | 10x |
| Short | Injective TSM/USDC PERP | 450.67 | 0.0220 | get 0.0028% / 1h | 39m 47s | $7K | $38K | 12x |
Lighter TSM
Injective TSM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Lighter. 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
- −$44.52
- Price spread: +1.220% → 0.000%
- $121.96
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $77.42
- Costs to cover
- 0.000%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 20 min ago; 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 Lighter live order book, 20 min ago | 8.70 bp | 8.7 bp −$9 | 13.0 bp −$130 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 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 | −0.0896% | 4h | 445.28 | +0.010% | $48K | $215K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.83 | −0.093% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.74 | −0.111% | $5K | $198K | 10x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.59 | −0.146% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.67 | −0.128% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.60 | −0.144% | $1.7M | $914K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.82 | −0.094% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.96 | −0.064% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.83 | −0.092% | $1K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.87 | −0.083% | $9K | $9K | 20x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDT | 0.0000% | 8h | 444.93 | −0.070% | $1.5M | $453K | 10x | as long as short |
| Binance TSMUSDT | +0.0001% | 8h | 444.87 | −0.083% | $13.1M | $6.9M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 445.16 | −0.018% | $367K | $104K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.101% | $45K | $99K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0019% | 8h | 445.26 | +0.005% | $17K | $1.1M | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.83 | −0.092% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.49 | −0.168% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.41 | −0.186% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.65 | −0.133% | $200K | $45K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.38 | −0.193% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.59 | −0.146% | $160K | $25K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.52 | −0.162% | $269K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.80 | −0.099% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.82 | −0.095% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 445.31 | +0.016% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERPshort | +0.0220% | 1h | 450.67 | +1.220% | $7K | $38K | 12x | |
| Lighter TSMlong | +0.0432% | 1h | 445.24 | long leg | $502K | $170K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0763% | 1h | 444.82 | −0.094% | $4 | $23K | 10x | as long as short |
Phemex TSMUSDT
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
GRVT TSM_USDT_Perp
Lighter RH 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
Phoenix TSM
Deribit TSM_USDC-PERPETUAL