data as of
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Price arb /

TSM

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$93
spread now+0.070%7d average−0.061%fees + slippage, in and out−$106spread needed1.065%
Long on LighterShort on Phemex
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter TSM441.540.0032pay 0.0004% / 1h26m 14s$499K$101K10x
ShortPhemex TSMUSDT441.850get 0.0000% / 8h26m 14s$1.5M$362K10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$7.02
Funding while held
−$0.96
Slippage, 4 orders
−$94.46
Fee Lighter: 0 bp × 2 orders
$0
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$100.4
Spread needed to break even
1.065%
Slippage from Lighter: live order book, 20 min ago; Phemex: live order book, 3 min ago.

Cost of waiting

funding view
Funding /8h
−0.0032%
Per $10,000 a day
−$0.96
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 20 min ago22.31 bp22.3 bp −$2226.3 bp −$263doesn't fitdoesn't fit
Sell Phemex live order book, 3 min ago3.51 bp33.6 bp −$34doesn't fitdoesn't fitdoesn't fit

TSM price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International441.07cheapestOndo Perps441.13+0.014%Vest441.36+0.066%Polymarket Perps441.39+0.073%tradeXYZ441.41+0.077%SoDEX441.41+0.077%Variational Omni441.42+0.080%KuCoin441.47+0.091%Gate441.48+0.093%Bybit441.49+0.095%
Lighter441.54+0.107%
OKX441.60+0.120%Aevo441.65+0.131%Deribit441.67+0.136%Extended441.67+0.137%Lighter RH441.69+0.141%Bitget441.69+0.141%Orderly441.69+0.141%edgeX441.69+0.141%Phoenix441.70+0.143%Binance441.73+0.150%HTX441.75+0.154%SunX441.76+0.156%BloFin441.83+0.172%
Phemex441.85+0.177%
Aster442.18+0.251%Injective446.02+1.122%

TSM on 27 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International TSM-PERP-INTX−0.106%−0.0032%1h$355K$79K10xas long as short
Ondo Perps TSM-USD.P−0.093%+0.0050%1h$156K$15K10xas long as short
Vest TSM-USD-PERP−0.041%+0.0046%1h——25xas long as short
Polymarket Perps TSM-USD−0.034%+0.0050%1h$179K$51K10xas long as short
tradeXYZ xyz:TSM−0.029%+0.0050%1h$10.3M$2.0M10xas long as short
SoDEX TSM-USD−0.029%+0.0050%1h$146$3K10xas long as short
Variational Omni TSM−0.026%0.0000%8h$556K$102K—as long as short
KuCoin TSMUSDTM−0.016%+0.0100%8h$272K$311K20xas long as short
Gate TSM_USDT−0.014%0.0000%8h$1.7M$743K100xas long as short
Bybit TSMUSDT−0.011%0.0000%8h$2.0M$313K50xas long as short
Show all 27 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Lighter TSMlong0.000%+0.0032%1h$499K$101K10x
OKX TSM-USDT-SWAP+0.014%0.0000%8h$3.8M$2.3M20xas long as short
Aevo TSM-PERP+0.024%+0.0104%1h$124—10xas long as short
Deribit TSM_USDC-PERPETUAL+0.029%+0.0248%1h$4$61K10xas long as short
Extended TSM-USD+0.030%0.0000%1h$2K$167K10xas long as short
Lighter RH TSM+0.034%+0.0032%1h$231K$1.1M10xas long as short
Bitget TSMUSDT+0.034%+0.0114%8h$1.9M$1.1M20xas long as short
Orderly PERP_TSM_USDC_mythos+0.034%+0.0100%8h$21—10xas long as short
edgeX TSMUSDC+0.035%−0.0857%4h$48K$214K10xas long as short
Phoenix TSM+0.036%+0.0200%1h$215K$5K10xas long as short
Binance TSMUSDT+0.043%0.0000%8h$13.0M$5.4M20xas long as short
HTX TSM-USDT+0.048%0.0000%8h$9K$6K20xas long as short
SunX TSM-USDT+0.050%0.0000%8h$1K$5.1M10xas long as short
BloFin TSM-USDT+0.066%+0.0027%8h$46K$85K20xas long as short
Phemex TSMUSDTshort+0.070%0.0000%8h$1.5M$362K10x
Aster TSMUSDT+0.144%0.0000%8h$81K$1K20xas long as short
Injective TSM/USDC PERP+1.015%+0.0220%1h$7K$38K12xas long as short