TMF arbitrage

live

Live Direxion Daily 20+ Year Treasury Bull 3X ETF (Dinari Tokenized ETF) price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.08%Binance → Bybit · Perp–Perp

Best perp–perp spread+0.08%Binance → Bybit

Markets tracked88 venues · 8 perp · 0 spot · 0 DEX

Price range0.28%$25.05 – $25.12

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart

No venue pairs for this coin in this mode right now.

Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

TMF price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h

MEXCPerpetual · TMF_USDTPerpetual $25.02$25.07$25.05-0.12% +0.358%$253.1K

OKXPerpetual · TMF-USDT-SWAPPerpetual $25.03$25.09$25.06-0.06% +0.275%$213.8K

HTXPerpetual · TMF-USDTPerpetual $25.01$25.16$25.09+0.04% 0.000%$127.0K

VariationalPerpetual · TMFPerpetual $25.04$25.10$25.07-0.02% +0.328%$80.4K

BybitPerpetual · TMFUSDTPerpetual $25.09$25.14$25.12+0.16% +0.234%$70.4K

BitgetPerpetual · TMFUSDTPerpetual $25.08$25.08$25.08+0.02% 0.000%$62.8K

GatePerpetual · TMF_USDTPerpetual $25.04$25.13$25.09+0.04% 0.000%$10.5K

BinancePerpetual · TMFUSDTPerpetual $25.05$25.07$25.06-0.06% +0.358%—

Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

TMF arbitrage explained

Right now Direxion Daily 20+ Year Treasury Bull 3X ETF (Dinari Tokenized ETF) (TMF) trades on 8 venues we scan: 8 perpetual markets, 0 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $25.07 and the highest bid on Bybit perp at $25.09.

The widest TMF perpetual spread is between Binance and Bybit: long TMF on Binance at $25.07 and short on Bybit at $25.09 for +0.08% gross, or -0.08% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.124% per day, which the position pays while it is open.

Small TMF gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Is there a TMF arbitrage opportunity right now?

The best TMF route right now is to buy on Binance → sell on Bybit (Perp–Perp): +0.08% gross and -0.08% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest TMF?

MEXC (perp) has the lowest TMF ask at $25.07, and Bybit (perp) the highest bid at $25.09. Prices update every 15 seconds on this page.

How many exchanges list TMF?

ArbiLayer tracks 8 TMF markets on 8 venues: 8 perpetual, 0 spot and 0 DEX pools.

How do I arbitrage TMF without transferring coins?

Use two perpetual contracts: go long TMF on the cheaper exchange (Binance now) and short it on the more expensive one (Bybit), then close both legs when the spread converges. The coins never move between exchanges.

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