Funding you earn now, next payment 01:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h −0.019%
Price spread now: Coinbase International against tradeXYZ+0.183%50s7-day average −0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$420.419% of the position
Funding, last 7 days−0.233%−$23 on $10k
+Price spread, last 3 days (all we have)−0.169%−$17 · spread now +0.183%, 7d avg −0.120%
=Together, before fees−0.402%+ Points / potential airdroptradeXYZ: Active · farm board−$40 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.303% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of −0.120%): +$30 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 30 days. At the pace of the last 7 days (−0.233% in total) that is about 9.1 days. The two prices were read 50 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 | tradeXYZ xyz:TSM | 443.49 | 0.0050 | pay 0.0006% / 1h | 14m 26s | $10.2M | $2.3M | 10x |
| Short | Coinbase International TSM-PERP-INTX | 444.30 | 0.0016 | get 0.0002% / 1h | 14m 26s | $371K | $105K | 10x |
tradeXYZ xyz:TSM
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against tradeXYZ. 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
- −$7.14
- Price spread: +0.183% → −0.120%
- $30.3
- Slippage, 4 orders
- −$13.86
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$18.7
- Costs to cover
- 0.419%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 4 min ago; Coinbase International: live order book, 54 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 tradeXYZ live order book, 4 min ago | 0.90 bp | 12.7 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 54 min ago | 3.13 bp | 8.7 bp −$9 | 12.7 bp −$127 | doesn't fit | doesn't fit |
TSM on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 444.16 | +0.152% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.71 | +0.050% | $2.0M | $387K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.91 | +0.095% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.88 | +0.088% | $1.7M | $986K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.43 | +0.212% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.23 | +0.166% | $550K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.11 | +0.140% | $2K | $4.5M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.16 | +0.151% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.17 | +0.153% | $1.5M | $445K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | +0.0016% | 1h | 444.30 | +0.183% | $371K | $105K | 10x |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TSMUSDT | +0.0021% | 8h | 444.08 | +0.134% | $13.0M | $6.7M | 20x | as long as short |
| Extended TSM-USD | +0.0024% | 1h | 443.99 | +0.113% | $4K | $197K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.92 | +0.097% | $229K | $637K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.55 | +0.014% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSMlong | +0.0050% | 1h | 443.49 | long leg | $10.2M | $2.3M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.77 | +0.063% | $197K | $48K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.60 | +0.025% | $138 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.52 | +0.007% | $160K | $24K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.68 | +0.043% | $269K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.05 | +0.126% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.97 | +0.108% | $124 | — | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0140% | 8h | 444.34 | +0.192% | $9K | $1.1M | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 444.14 | +0.147% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.49 | +1.353% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0348% | 4h | 444.28 | +0.177% | $48K | $216K | 10x | as long as short |
| Lighter TSM | +0.0384% | 1h | 444.53 | +0.235% | $502K | $170K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0832% | 1h | 443.94 | +0.101% | $98 | $24K | 10x | as long as short |
Binance TSMUSDT
Extended TSM-USD
Lighter RH TSM
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Lighter TSM
Deribit TSM_USDC-PERPETUAL