Funding you earn now, next payment 00:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.062%
Price spread now: Variational Omni against Lighter−0.117%7-day average −0.087% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.092%−$9 on $10k
+Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.117%, 7d avg −0.087%
=Together, before fees−0.055%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Variational Omni is 0.030% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.087%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.092% in total (about -10.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 446.93 | 0.0328 | pay 0.0041% / 1h | 41m 25s | $504K | $166K | 10x |
| Short | Variational Omni TSM | 446.41 | 0 | get 0.0000% / 8h | 41m 25s | $553K | $84K | — |
Lighter TSM
Variational Omni TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$68.88
- Price spread: −0.117% → −0.087%
- −$2.99
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$71.87
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 29 min ago; Variational Omni: RFQ quote, 38 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 Lighter live order book, 29 min ago | 8.28 bp | 8.3 bp −$8 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 38 min ago | 2.16 bp | doesn't fit | 23.0 bp −$230 | doesn't fit | doesn't fit |
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 | −0.0715% | 4h | 446.47 | −0.103% | $48K | $216K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.07 | −0.192% | $357K | $97K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.31 | −0.139% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.41 | −0.115% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.50 | −0.095% | $13.2M | $6.8M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 446.10 | −0.186% | $2.0M | $415K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.50 | −0.096% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.07 | −0.192% | $1.7M | $907K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.48 | −0.101% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSMshort | 0.0000% | 8h | 446.41 | −0.117% | $553K | $84K | — |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.47 | −0.104% | $7K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.48 | −0.101% | $1K | $5.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.37 | −0.125% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.99 | −0.434% | $1.5M | $456K | 10x | as long as short |
| BloFin TSM-USDT | +0.0002% | 8h | 446.49 | −0.098% | $44K | $102K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.51 | −0.094% | $231K | $585K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.23 | −0.157% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.10 | −0.186% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.23 | −0.157% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.13 | −0.179% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.95 | −0.219% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.98 | −0.213% | $271K | $323K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.41 | −0.116% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.46 | −0.105% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.23 | −0.157% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +0.848% | $7K | $38K | 12x | as long as short |
| Lighter TSMlong | +0.0328% | 1h | 446.93 | long leg | $504K | $166K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0378% | 1h | 446.37 | −0.125% | $4 | $61K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
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
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL