Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against Ondo Perps+0.151%7-day average +0.083% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.118%−$12 on $10k
+Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.151%, 7d avg +0.083%
=Together, before fees−0.286%+ Points / potential airdropOndo Perps: Active · farm board−$29 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.068% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.083%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps TSM-USD.P | 442.72 | 0.0050 | pay 0.0006% / 1h | 5m 29s | $158K | $23K | 10x |
| Short | Phemex TSMUSDT | 443.39 | 0 | get 0.0000% / 8h | 5h 05m | $1.5M | $446K | 10x |
Ondo Perps TSM-USD.P
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Ondo Perps. 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
- −$10.58
- Price spread: +0.151% → +0.083%
- $6.81
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$20.77
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 3.16 bp | 29.9 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0119% | 4h | 443.21 | +0.110% | $48K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 443.51 | +0.178% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.00 | +0.063% | $2.0M | $382K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.11 | +0.088% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.08 | +0.081% | $1.7M | $962K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.45 | +0.165% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.27 | +0.124% | $549K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.35 | +0.142% | $2K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 443.21 | +0.111% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 443.39 | +0.151% | $1.5M | $446K | 10x |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 443.50 | +0.176% | $500K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.21 | +0.111% | $221K | $645K | 10x | as long as short |
| Extended TSM-USD | +0.0040% | 1h | 443.18 | +0.103% | $2K | $189K | 10x | as long as short |
| BloFin TSM-USDT | +0.0041% | 8h | 443.33 | +0.138% | $45K | $98K | 20x | as long as short |
| Binance TSMUSDT | +0.0045% | 8h | 443.33 | +0.138% | $13.0M | $6.8M | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 442.86 | +0.032% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 442.98 | +0.059% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.08 | +0.081% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 442.91 | +0.043% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Plong | +0.0050% | 1h | 442.72 | long leg | $158K | $23K | 10x | |
| GRVT TSM_USDT_Perp | +0.0088% | 8h | 443.33 | +0.138% | $11K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 442.93 | +0.047% | $268K | $318K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.25 | +0.120% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.25 | +0.120% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.05 | +0.075% | $369K | $107K | 10x | as long as short |
| Phoenix TSM | +0.0217% | 1h | 443.70 | +0.221% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.46 | +1.297% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0472% | 1h | 443.24 | +0.117% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Extended TSM-USD
BloFin TSM-USDT
Binance TSMUSDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL