Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.031%
Price spread now: Phemex against Lighter RH−0.027%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$660.658% of the position
Funding, last 7 days−0.094%−$9 on $10k
+Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.027%, 7d avg −0.021%
=Together, before fees−0.124%+ Points / potential airdropLighter RH: Points live · farm board−$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH TSM | 446.92 | 0.0032 | pay 0.0004% / 1h | 17m 31s | $230K | $596K | 10x |
| Short | Phemex TSMUSDT | 446.80 | 0 | get 0.0000% / 8h | 17m 31s | $1.5M | $454K | 10x |
Lighter RH TSM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter RH. 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
- −$6.72
- Price spread: −0.027% → −0.021%
- −$0.55
- Slippage, 4 orders
- −$53.82
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$73.09
- Costs to cover
- 0.658%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 60 min ago; Phemex: live order book, just now.
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 RH live order book, 60 min ago | 1.68 bp | 2.0 bp −$2 | 13.3 bp −$133 | doesn't fit | doesn't fit |
| Sell Phemex live order book, just now | 1.46 bp | 33.9 bp −$34 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.18 | −0.166% | $357K | $97K | 10x | as long as short |
| BloFin TSM-USDT | −0.0008% | 8h | 446.83 | −0.020% | $44K | $102K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.69 | −0.051% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.82 | −0.023% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.88 | −0.009% | $13.2M | $6.7M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 446.50 | −0.094% | $2.0M | $415K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.87 | −0.011% | $4.0M | $2.9M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.45 | −0.105% | $1.7M | $910K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.76 | −0.036% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.76 | −0.035% | $553K | $84K | — | as long as short |
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 446.81 | −0.024% | $7K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.83 | −0.020% | $1K | $5.1M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 446.67 | −0.056% | $4 | $61K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.62 | −0.067% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 446.80 | −0.027% | $1.5M | $454K | 10x | |
| Lighter RH TSMlong | +0.0032% | 1h | 446.92 | long leg | $230K | $596K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.71 | −0.047% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.54 | −0.085% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.53 | −0.087% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.47 | −0.101% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.52 | −0.090% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 446.48 | −0.098% | $271K | $318K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.81 | −0.025% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.87 | −0.012% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.54 | −0.085% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +0.850% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0272% | 1h | 447.35 | +0.096% | $505K | $166K | 10x | as long as short |
| edgeX TSMUSDC | +0.0960% | 4h | 446.77 | −0.034% | $48K | $216K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDT
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
Lighter TSM
edgeX TSMUSDC