Funding you earn now, next payment 02:00 UTC+0.0169%/8h= +18.5% APRnext payment +$0.21 per $10,000 · paid last 24h +0.050%
Price spread now: Phoenix against Extended−0.006%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$430.433% of the position
Funding, last 7 days+0.244%+$24 on $10k
+Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.006%, 7d avg +0.005%
=Together, before fees+0.343%+ Points / potential airdropExtended: Active · farm board+$34 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended TSM-USD | 443.89 | 0.0048 | pay 0.0006% / 1h | 33m 21s | $1K | $191K | 10x |
| Short | Phoenix TSM | 443.86 | 0.0217 | get 0.0027% / 1h | 33m 21s | $216K | $5K | 10x |
Extended TSM-USD
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. 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
- $35.41
- Price spread: −0.006% → +0.005%
- −$1.07
- Slippage, 4 orders
- −$31.31
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$8.97
- Costs to cover
- 0.433%
- Break-even
- 8.8 days
Slippage from Extended: live order book, 28 min ago; Phoenix: live order book, 24 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 Extended live order book, 28 min ago | 1.58 bp | 9.6 bp −$10 | 77.6 bp −$776 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 24 min ago | 3.83 bp | 12.2 bp −$12 | 26.0 bp −$260 | 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 | −0.0496% | 4h | 443.84 | −0.011% | $48K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.19 | +0.069% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.73 | −0.035% | $2.0M | $392K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.85 | −0.008% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.78 | −0.024% | $1.7M | $955K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.94 | +0.012% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.95 | +0.014% | $550K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.92 | +0.008% | $1K | $4.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.00 | +0.026% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.07 | +0.042% | $1.5M | $443K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 444.20 | +0.071% | $501K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.94 | +0.012% | $221K | $644K | 10x | as long as short |
| BloFin TSM-USDT | +0.0035% | 8h | 443.99 | +0.024% | $45K | $98K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.71 | −0.040% | — | $583 | 25x | as long as short |
| Extended TSM-USDlong | +0.0048% | 1h | 443.89 | long leg | $1K | $191K | 10x | |
| Binance TSMUSDT | +0.0049% | 8h | 444.01 | +0.027% | $13.0M | $6.8M | 20x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.54 | −0.078% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.62 | −0.060% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.50 | −0.087% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.66 | −0.051% | $159K | $23K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.49 | −0.089% | $270K | $320K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.96 | +0.017% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.94 | +0.013% | $124 | — | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0151% | 8h | 443.82 | −0.015% | $8K | $1.1M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.28 | −0.136% | $370K | $107K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0156% | 1h | 443.81 | −0.017% | $98 | $24K | 10x | as long as short |
| Phoenix TSMshort | +0.0217% | 1h | 443.86 | −0.006% | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.49 | +1.037% | $7K | $38K | 12x | as long as short |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
Binance TSMUSDT
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
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP