Funding you earn now, next payment 22:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h +0.044%
Price spread now: Phoenix against Bitget−0.031%89s7-day average −0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as 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−$490.487% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 3 days (all we have)+0.056%+$6 · spread now −0.031%, 7d avg −0.035%
=The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 89 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 | Bitget TSMUSDT | 445.44 | 0 | get 0.0000% / 8h | 1h 35m | $1.6M | $1.5M | 20x |
| Short | Phoenix TSM | 445.30 | 0.0162 | get 0.0020% / 1h | 35m 52s | $217K | $5K | 10x |
Bitget TSMUSDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- $33.98
- Price spread: −0.031% → −0.035%
- $0.33
- Slippage, 4 orders
- −$29.71
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$14.39
- Costs to cover
- 0.487%
- Break-even
- 10.0 days
Slippage from Bitget: live order book, 1 min ago; Phoenix: live order book, 42 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 Bitget live order book, 1 min ago | 0.90 bp | 14.9 bp −$15 | 23.4 bp −$234 | 53.3 bp −$5,325 | doesn't fit |
| Sell Phoenix live order book, 42 min ago | 2.92 bp | 10.2 bp −$10 | 21.0 bp −$210 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0093% | 4h | 445.54 | +0.022% | $48K | $215K | 10x | as long as short |
| BloFin TSM-USDT | −0.0020% | 8h | 445.66 | +0.049% | $44K | $104K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.34 | −0.021% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.54 | +0.022% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.61 | +0.039% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.22 | −0.049% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.63 | +0.043% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.22 | −0.049% | $1.7M | $920K | 100x | as long as short |
| Bitget TSMUSDTlong | 0.0000% | 8h | 445.44 | long leg | $1.6M | $1.5M | 20x | |
| Variational Omni TSM | 0.0000% | 8h | 445.57 | +0.030% | $552K | $85K | — | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.55 | +0.026% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.64 | +0.045% | $1K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.32 | −0.027% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.11 | −0.074% | $1.5M | $468K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.189% | $356K | $96K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.69 | +0.056% | $225K | $597K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.35 | −0.020% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.26 | −0.040% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.36 | −0.018% | $195K | $89K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.27 | −0.038% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.38 | −0.013% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.23 | −0.047% | $270K | $339K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.61 | +0.038% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.67 | +0.051% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0162% | 1h | 445.30 | −0.031% | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +1.004% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0469% | 1h | 445.63 | +0.043% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0536% | 1h | 446.03 | +0.132% | $503K | $163K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
Lighter TSM