Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against OKX+0.130%53s7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as 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−$740.745% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.130%, 7d avg +0.055%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.076% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.055%. The two prices were read 53 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 | OKX TSM-USDT-SWAP | 444.52 | 0 | get 0.0000% / 8h | 6h 40m | $4.0M | $2.6M | 20x |
| Short | Phemex TSMUSDT | 445.10 | 0 | get 0.0000% / 8h | 6h 40m | $1.5M | $451K | 10x |
OKX TSM-USDT-SWAP
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against OKX. 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
- $0
- Price spread: +0.130% → +0.055%
- $7.58
- Slippage, 4 orders
- −$52.46
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$66.88
- Costs to cover
- 0.745%
- Break-even
- never at this rate
Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 2 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 OKX live order book, 2 min ago | 1.35 bp | 7.7 bp −$8 | 28.5 bp −$285 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 1.57 bp | 28.0 bp −$28 | 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 | −0.0896% | 4h | 445.28 | +0.172% | $48K | $215K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.88 | +0.081% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.76 | +0.055% | $5K | $198K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 444.87 | +0.079% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.58 | +0.013% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAPlong | 0.0000% | 8h | 444.52 | long leg | $4.0M | $2.6M | 20x | |
| Gate TSM_USDT | 0.0000% | 8h | 444.59 | +0.016% | $1.7M | $913K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.99 | +0.106% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.96 | +0.098% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.02 | +0.112% | $1K | $4.7M | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
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 | 444.87 | +0.079% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 445.10 | +0.130% | $1.5M | $451K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 445.16 | +0.144% | $367K | $104K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.263% | $45K | $99K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0019% | 8h | 445.26 | +0.167% | $17K | $1.1M | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.83 | +0.070% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.49 | −0.007% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.39 | −0.029% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.65 | +0.029% | $200K | $45K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.48 | −0.009% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.59 | +0.016% | $160K | $25K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.49 | −0.007% | $269K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.80 | +0.063% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.82 | +0.067% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 445.31 | +0.178% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.384% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0432% | 1h | 445.25 | +0.164% | $502K | $170K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0830% | 1h | 444.89 | +0.083% | $4 | $23K | 10x | as long as short |
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
GRVT TSM_USDT_Perp
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
Lighter TSM
Deribit TSM_USDC-PERPETUAL