Funding you earn now, next payment 06:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.027%
Price spread now: Phoenix against KuCoin+0.059%108s7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$211as 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−$2182.180% of the position
Funding, last 7 days+0.072%+$7 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.059%, 7d avg +0.063%
=The price spread sits at its 7-day average of +0.063%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 108 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 | KuCoin TSMUSDTM | 439.42 | 0.0100 | pay 0.0100% / 8h | 59m 38s | $266K | $309K | 20x |
| Short | Phoenix TSM | 439.68 | 0.0164 | get 0.0020% / 1h | 59m 38s | $214K | $5K | 10x |
KuCoin TSMUSDTM
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $13.35
- Price spread: +0.059% → +0.063%
- −$0.37
- Slippage, 4 orders
- −$198.96
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$204.99
- Costs to cover
- 2.180%
- Break-even
- 114.5 days
Slippage from KuCoin: live order book, 43 min ago; Phoenix: live order book, 37 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, 43 min ago | 14.01 bp | 149.3 bp −$149 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 37 min ago | 2.73 bp | 9.7 bp −$10 | 19.5 bp −$195 | 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 | −0.0169% | 8h | 439.85 | +0.098% | $1.7M | $1.5M | 20x | as long as short |
| tradeXYZ xyz:TSM | −0.0014% | 1h | 439.24 | −0.041% | $10.2M | $1.7M | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.94 | +0.118% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.67 | +0.057% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.78 | +0.082% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.59 | +0.039% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.72 | +0.068% | $559K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.80 | +0.086% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.71 | +0.066% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.60 | +0.269% | $1.5M | $524K | 10x | as long as short |
Bitget TSMUSDT
tradeXYZ xyz:TSM
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 | 440.15 | +0.166% | $496K | $170K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.58 | +0.036% | $221K | $733K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.45 | +0.007% | — | $2K | 25x | as long as short |
| BloFin TSM-USDT | +0.0046% | 8h | 439.79 | +0.084% | $45K | $106K | 20x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0046% | 1h | 439.68 | +0.059% | $97 | $25K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | −0.020% | $366K | $102K | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.51 | +0.020% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.48 | +0.014% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.18 | −0.055% | $158K | $27K | 10x | as long as short |
| edgeX TSMUSDC | +0.0066% | 4h | 439.74 | +0.073% | $47K | $217K | 10x | as long as short |
| Binance TSMUSDT | +0.0067% | 8h | 439.78 | +0.082% | $12.9M | $7.9M | 20x | as long as short |
| Extended TSM-USD | +0.0072% | 1h | 439.68 | +0.059% | $3K | $145K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0076% | 8h | 439.82 | +0.091% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 439.42 | long leg | $266K | $309K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.74 | +0.073% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.76 | +0.077% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0164% | 1h | 439.68 | +0.059% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.27 | +1.104% | $6K | $38K | 12x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
BloFin TSM-USDT
Deribit TSM_USDC-PERPETUAL
Coinbase International TSM-PERP-INTX
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
edgeX TSMUSDC
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP