Funding you earn now, next payment 22:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h +0.049%
Price spread now: Phoenix against GRVT−0.029%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$380.379% of the position
Funding, last 7 days+0.253%+$25 on $10k
+Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.029%, 7d avg −0.018%
=Together, before fees+0.357%+ Points / potential airdropGRVT: Active · farm board+$36 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.018%, 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 | GRVT TSM_USDT_Perp | 445.64 | 0 | get 0.0000% / 8h | 1h 28m | $15K | $1.1M | 10x |
| Short | Phoenix TSM | 445.51 | 0.0162 | get 0.0020% / 1h | 28m 28s | $217K | $5K | 10x |
GRVT TSM_USDT_Perp
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GRVT. 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: −0.029% → −0.018%
- −$1.11
- Slippage, 4 orders
- −$21.88
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$5.01
- Costs to cover
- 0.379%
- Break-even
- 8.0 days
Slippage from GRVT: live order book, 5 min ago; Phoenix: live order book, 49 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 GRVT live order book, 5 min ago | 1.23 bp | 7.5 bp −$8 | 15.9 bp −$159 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 49 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 445.76 | +0.027% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.87 | +0.051% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.95 | +0.070% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.70 | +0.013% | $2.0M | $421K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.82 | +0.040% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.58 | −0.013% | $1.7M | $921K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.81 | +0.038% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.64 | 0.000% | $552K | $85K | — | as long as short |
| GRVT TSM_USDT_Perplong | 0.0000% | 8h | 445.64 | long leg | $15K | $1.1M | 10x | |
| SunX TSM-USDT | 0.0000% | 8h | 445.83 | +0.043% | $2K | $5.4M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 445.42 | −0.049% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.26 | −0.085% | $1.5M | $469K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.233% | $356K | $96K | 10x | as long as short |
| BloFin TSM-USDT | +0.0018% | 8h | 445.84 | +0.045% | $44K | $104K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.02 | +0.085% | $226K | $598K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.72 | +0.018% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.64 | 0.000% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.70 | +0.013% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.51 | −0.029% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.11 | −0.119% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.46 | −0.040% | $271K | $336K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.79 | +0.034% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.97 | +0.074% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0162% | 1h | 445.51 | −0.029% | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.958% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0289% | 1h | 445.89 | +0.056% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0464% | 1h | 446.47 | +0.186% | $504K | $163K | 10x | as long as short |
| edgeX TSMUSDC | +0.0848% | 4h | 445.63 | −0.002% | $48K | $215K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
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
edgeX TSMUSDC