TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h −0.012%

Price spread now: Coinbase International against Polymarket Perps−0.188%7-day average −0.133% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.188%, 7d avg −0.133%

Together, before fees−0.075%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.056% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.188% now, against its 7-day average of −0.133%). If the spread goes back, that is −$6 on $10k: about 8.4 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.259%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TSM-USD	440.86	0.0050	pay 0.0006% / 1h	46m 07s	$192K	$63K	10x
Short	Coinbase International TSM-PERP-INTX	440.03	0.0072	get 0.0009% / 1h	46m 07s	$367K	$102K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.188%Rate

Funding earned: $4.62
Price spread: −0.188% → −0.133%: −$5.55
Slippage, 4 orders: −$16.82
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$35.75
Costs to cover: 0.348%
Break-even: 61.2 days

Slippage from Polymarket Perps: live order book, 1 min ago; Coinbase International: live order book, 2 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 Polymarket Perps live order book, 1 min ago	3.40 bp	8.3 bp −$8	8.5 bp −$85	10.5 bp −$1,053	doesn't fit
Sell Coinbase International live order book, 2 min ago	3.97 bp	9.2 bp −$9	12.8 bp −$128	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
Bitget TSMUSDT	−0.0173%	8h	441.02	+0.036%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.06	+0.045%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	440.87	+0.002%	$2.0M	$396K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	441.00	+0.032%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	440.85	−0.002%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	441.07	+0.047%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.14	+0.064%	$1K	$4.2M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.78	+0.209%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.24	+0.086%	$1.5M	$495K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.03	+0.039%	$497K	$137K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	441.03	+0.039%	$220K	$679K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.74	−0.027%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.76	−0.023%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USDlong	+0.0050%	1h	440.86	long leg	$192K	$63K	10x
SoDEX TSM-USD	+0.0050%	1h	440.71	−0.034%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.83	−0.007%	$157K	$23K	10x	as long as short
BloFin TSM-USDT	+0.0053%	8h	441.07	+0.048%	$45K	$102K	20x	as long as short
Extended TSM-USD	+0.0056%	1h	441.01	+0.034%	$6K	$196K	10x	as long as short
Binance TSMUSDT	+0.0058%	8h	441.13	+0.061%	$12.9M	$7.6M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0058%	8h	440.97	+0.025%	$9K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTXshort	+0.0072%	1h	440.03	−0.188%	$367K	$102K	10x
KuCoin TSMUSDTM	+0.0100%	8h	440.70	−0.036%	$267K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.09	+0.052%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.05	+0.042%	$123	—	10x	as long as short
Phoenix TSM	+0.0163%	1h	441.03	+0.039%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.50	+1.052%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0295%	1h	441.01	+0.034%	$97	$24K	10x	as long as short
edgeX TSMUSDC	+0.0439%	4h	440.98	+0.027%	$48K	$217K	10x	as long as short