Funding you earn now, next payment 05:00 UTC+0.0515%/8h= +56.4% APRpaid last 24h +0.029%
Price spread now: Phoenix against edgeX+0.008%7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days+0.353%+$35 on $10k
+Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.008%, 7d avg −0.013%
=Together, before fees+0.379%+ Points / potential airdropedgeX: Active · farm board+$38 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phoenix is 0.022% dearer against edgeX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.013%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.353% in total (about 18.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX TSMUSDC | 440.09 | −0.0351 | get 0.0176% / 4h | 2h 12m | $47K | $217K | 10x |
| Short | Phoenix TSM | 440.13 | 0.0163 | get 0.0020% / 1h | 12m 11s | $214K | $5K | 10x |
edgeX TSMUSDC
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against edgeX. 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
- $108.1
- Price spread: +0.008% → −0.013%
- $2.17
- Slippage, 4 orders
- −$25.24
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $69.02
- Costs to cover
- 0.412%
- Break-even
- 2.5 days
Slippage from edgeX: live order book, 35 min ago; Phoenix: live order book, 30 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 edgeX live order book, 35 min ago | 5.55 bp | 10.2 bp −$10 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 30 min ago | 2.95 bp | 10.4 bp −$10 | 21.4 bp −$214 | 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 TSMUSDClong | −0.0351% | 4h | 440.09 | long leg | $47K | $217K | 10x | |
| Bitget TSMUSDT | −0.0238% | 8h | 440.69 | +0.135% | $1.7M | $1.6M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.47 | +0.086% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.59 | +0.113% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.68 | +0.133% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.51 | +0.095% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.07 | −0.005% | $552K | $30K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.90 | +0.183% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.26 | +0.038% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.33 | +0.281% | $1.5M | $511K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.71 | +0.140% | $496K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.65 | +0.126% | $220K | $681K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.35 | +0.058% | — | $1K | 25x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 440.68 | +0.133% | $5K | $183K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0049% | 8h | 440.18 | +0.020% | $13K | $1.3M | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.39 | +0.067% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.46 | +0.083% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.13 | +0.008% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.97 | −0.028% | $158K | $27K | 10x | as long as short |
| Binance TSMUSDT | +0.0051% | 8h | 440.83 | +0.168% | $12.9M | $7.8M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 439.33 | −0.174% | $366K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0078% | 8h | 440.38 | +0.065% | $45K | $103K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.21 | +0.026% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.53 | +0.099% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.75 | +0.149% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0163% | 1h | 440.13 | +0.008% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.65 | +1.035% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0522% | 1h | 440.66 | +0.129% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Extended TSM-USD
GRVT TSM_USDT_Perp
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL