Metabolism in living things is the combination of enzyme-catalyzed biochemical reactions that drive biological work in the form of energy capture and release, molecule synthesis, cell replication and other functions. It is constrained by many factors, including resources, enzyme characteristics, and temperature under the requirement that organisms persist through time. Here, the biochemical foundation for metabolism is viewed from a thermodynamic perspective that explores three different metabolic currencies: (1) entropy production, which reflects the ability to persist at or near steady state through time by the rate at which entropy of surroundings is increased relative to that inside a system, (2) reaction rate or the rate of formation of products, and (3) power, the rate at which “free” (Gibbs) energy available for doing work is generated. Rate-temperature relationships for each objective are derived from a reaction-displacement model of a metabolic reaction for near-steady-state conditions, which are presumed to be required for organisms to persist over time. Reaction rate, entropy production and Gibbs energy production are maximized at different optimal temperatures, Topt, all at barely distinguishable near-maximum reaction rates. These theoretical predictions nevertheless provide distinct, testable hypotheses for organism response to temperature under maximizing each of the three metabolic currencies. The framework also suggests that there exists a maximum temperature for life, Tmax, at which entropy generated near reaction sites by reaction activation becomes greater than that generated away from reaction sites by the dissipation of heat and products. The framework predicts shifts in Topt and Tmax that differ among types of reactions, enzyme concentrations, organism element concentration and varying body size. Overall, the framework provides a greatly expanded set of hypotheses and explanations for temperature performance relationships for life, including variation in both Topt and Tmax, for growth versus locomotion and respiration, “fast” versus “slow” life histories, resource-rich versus resource-poor environments, and intra- and interspecific variation in body size.