TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0231%/8h= −25.3% APRnext payment −$2.31 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against OKX+0.027%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 7 days+0.055%+$6 · spread now +0.027%, 7d avg +0.051%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.023% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.31 per $10,000. 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	OKX TSM-USDT-SWAP	439.45	0	get 0.0000% / 8h	1h 27m	$4.0M	$2.6M	20x
Short	Bitget TSMUSDT	439.57	−0.0231	pay 0.0231% / 8h	1h 27m	$1.7M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$48.51
Price spread: +0.027% → +0.051%: −$2.32
Slippage, 4 orders: −$27.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$100.78
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bitget: live order book, 4 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 OKX live order book, 5 min ago	0.46 bp	7.1 bp −$7	21.7 bp −$217	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	7.62 bp	18.0 bp −$18	21.8 bp −$218	53.9 bp −$5,388	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	−0.0750%	4h	439.46	+0.002%	$47K	$215K	10x	as long as short
Bitget TSMUSDTshort	−0.0231%	8h	439.57	+0.027%	$1.7M	$1.5M	20x
Aster TSMUSDT	0.0000%	8h	439.51	+0.014%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.27	−0.041%	$2.0M	$398K	50x	as long as short
OKX TSM-USDT-SWAPlong	0.0000%	8h	439.45	long leg	$4.0M	$2.6M	20x
Gate TSM_USDT	0.0000%	8h	439.33	−0.027%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.41	−0.008%	$557K	$37K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.60	+0.034%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.32	−0.030%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.68	+0.280%	$1.5M	$517K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	439.53	+0.018%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.42	−0.007%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.14	−0.071%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.027%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.15	−0.068%	$10.2M	$1.7M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.21	−0.055%	$189K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.14	−0.071%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	438.68	−0.175%	$157K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0066%	8h	439.53	+0.018%	$45K	$106K	20x	as long as short
Binance TSMUSDT	+0.0079%	8h	439.57	+0.027%	$12.9M	$7.9M	20x	as long as short
Extended TSM-USD	+0.0080%	1h	439.46	+0.003%	$3K	$157K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0088%	8h	439.40	−0.011%	$14K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.08	−0.084%	$266K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.51	+0.014%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.56	+0.025%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.25	−0.046%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.27	+1.097%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0638%	1h	439.43	−0.005%	$4	$25K	10x	as long as short