TSM Funding Rate — TSMC tokenized stock perpetuals across 10 venues
Tokenized stock (xStock) perpetual · compared across 10 venues · net of estimated fees · updated every few minutes
TSM represents tokenized exposure to TSMC shares (a Backed.fi xStock) traded as a perpetual. The perp, its funding and the underlying share are three different things — read the rate with liquidity and the backtest below.
Live annualized TSM perpetual funding across all 10 venues Perpia tracks. Right now TSM funding is positive on 3 and negative on 0, ranging from +10.9% on KuCoin to +0.0% on Ostium — a spread of 10.9%. The widest delta-neutral trade is long Extended / short KuCoin at 7.7% net APR.
TSM funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
TSM funding rate by venue
20 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| KuCoin↗ | +10.9% | 8h |
| Hyperliquid↗ | +5.5% | 1h |
| trade.xyz↗ | +5.5% | 1h |
| Extended↗ | +0.0% | 1h |
| OKX↗ | +0.0% | 8h |
| Variational↗ | +0.0% | 8h |
| Gate.io↗ | +0.0% | 8h |
| Bitget↗ | +0.0% | 8h |
| Bybit↗ | +0.0% | 8h |
| Ostium↗ | +0.0% | 1h |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Extended vs KuCoin page.
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TSM funding — FAQ
Is TSM funding positive right now?
TSM perpetual funding is positive on 3 of 10 venues Perpia tracks. The highest is +10.9% on KuCoin; the lowest is +0.0% on Ostium.
What is the best TSM funding arbitrage right now?
Go long Extended and short KuCoin for about 7.7% net APR after fees — the widest delta-neutral TSM spread Perpia currently sees.
Which exchange has the highest TSM funding rate?
KuCoin, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.
How TSM funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Related tokenized stocks
See the full list on the tokenized stocks hub.