Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against KuCoin+0.104%7-day average +0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs−$210as in the Funding arb table
Net, price: spread back to 7d avg − costs−$188as in the Price arb table
costs, in and out, $10k−$1891.893% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.104%, 7d avg +0.090%
=The price spread sits at its 7-day average of +0.090%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TSMUSDTM | 440.26 | 0.0100 | pay 0.0100% / 8h | 3h 18m | $267K | $311K | 20x |
| Short | Phemex TSMUSDT | 440.72 | 0 | get 0.0000% / 8h | 3h 18m | $1.5M | $486K | 10x |
KuCoin TSMUSDTM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- −$21
- Price spread: +0.104% → +0.090%
- $1.41
- Slippage, 4 orders
- −$165.26
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$208.85
- Costs to cover
- 1.893%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 53 min ago; Phemex: live order book, 4 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 KuCoin live order book, 53 min ago | 16.99 bp | 74.4 bp −$74 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.81 bp | 30.0 bp −$30 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0204% | 8h | 440.56 | +0.068% | $1.8M | $1.5M | 20x | as long as short |
| edgeX TSMUSDC | −0.0059% | 4h | 440.93 | +0.152% | $47K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.53 | +0.061% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.50 | +0.055% | $2.0M | $388K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.54 | +0.064% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.42 | +0.036% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.96 | +0.159% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.60 | +0.077% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.01 | +0.170% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 440.72 | +0.104% | $1.5M | $486K | 10x |
Bitget TSMUSDT
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.63 | +0.084% | $496K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.51 | +0.057% | $219K | $675K | 10x | as long as short |
| BloFin TSM-USDT | +0.0045% | 8h | 440.58 | +0.073% | $45K | $100K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.28 | +0.005% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.23 | −0.007% | $10.2M | $2.1M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.24 | −0.005% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.29 | +0.007% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.97 | −0.066% | $157K | $23K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.47 | +0.047% | $4K | $198K | 10x | as long as short |
| Binance TSMUSDT | +0.0067% | 8h | 440.59 | +0.075% | $12.9M | $7.5M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0081% | 8h | 440.78 | +0.119% | $8K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.052% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 440.26 | long leg | $267K | $311K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.38 | +0.027% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.53 | +0.062% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 440.93 | +0.152% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.45 | +1.179% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0545% | 1h | 440.46 | +0.045% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL