Funding you earn now, next payment 01:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.060%
Price spread now: Phemex against Lighter−0.100%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$920.924% of the position
Funding, last 7 days−0.409%−$41 on $10k
+Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.100%, 7d avg −0.070%
=Together, before fees−0.337%+ Points / potential airdropLighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.030% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.070%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 448.47 | 0.0264 | pay 0.0033% / 1h | 28m 11s | $506K | $167K | 10x |
| Short | Phemex TSMUSDT | 448.02 | 0 | get 0.0000% / 8h | 7h 28m | $1.5M | $454K | 10x |
Lighter TSM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter. 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
- −$55.44
- Price spread: −0.100% → −0.070%
- −$3.02
- Slippage, 4 orders
- −$80.44
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$150.9
- Costs to cover
- 0.924%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 37 min ago; Phemex: live order book, 5 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 Lighter live order book, 37 min ago | 8.38 bp | 8.4 bp −$8 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 2.80 bp | 33.3 bp −$33 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0788% | 4h | 447.23 | −0.277% | $48K | $217K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | −0.339% | $358K | $101K | 10x | as long as short |
| BloFin TSM-USDT | −0.0007% | 8h | 448.06 | −0.091% | $45K | $102K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.78 | −0.153% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.99 | −0.106% | $5K | $208K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 448.08 | −0.088% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.79 | −0.152% | $2.0M | $411K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.98 | −0.109% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.79 | −0.152% | $1.7M | $912K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.25 | −0.273% | $554K | $84K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 447.79 | −0.152% | $13K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 448.07 | −0.089% | $2K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 448.10 | −0.083% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 448.02 | −0.100% | $1.5M | $454K | 10x | |
| Bitget TSMUSDT | +0.0015% | 8h | 447.96 | −0.114% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.94 | −0.118% | $232K | $639K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.79 | −0.152% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.68 | −0.176% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.78 | −0.154% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.67 | −0.178% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.76 | −0.158% | $158K | $20K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.53 | −0.210% | $272K | $313K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.83 | −0.143% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.95 | −0.117% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 447.84 | −0.140% | $218K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.79 | +0.740% | $7K | $38K | 12x | as long as short |
| Lighter TSMlong | +0.0264% | 1h | 448.47 | long leg | $506K | $167K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0644% | 1h | 447.95 | −0.116% | $4 | $32K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Bitget TSMUSDT
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
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL