Funding you earn now, next payment 16:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against Orderly−0.053%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.053% cheaper against Orderly than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_TSM_USDC_mythos | 438.08 | 0.0100 | pay 0.0100% / 8h | 7h 33m | $21 | — | 10x |
| Short | Phemex TSMUSDT | 437.85 | 0 | get 0.0000% / 8h | 7h 33m | $1.5M | $534K | 10x |
Orderly PERP_TSM_USDC_mythos
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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
- −$21
- Price spread: −0.053% → 0.000%
- −$5.25
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$44.25
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 5 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 13.02 bp | 38.4 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 | −0.0890% | 4h | 438.19 | +0.025% | $47K | $217K | 10x | as long as short |
| BloFin TSM-USDT | −0.0021% | 8h | 438.09 | +0.002% | $45K | $108K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 438.25 | +0.039% | $81K | $2K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 437.73 | −0.080% | $3K | $216K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 437.82 | −0.059% | $12.8M | $8.2M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 437.72 | −0.082% | $2.0M | $409K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 437.67 | −0.094% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 437.78 | −0.068% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 437.58 | −0.114% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 438.15 | +0.017% | $549K | $45K | — | as long as short |
edgeX TSMUSDC
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 | 438.14 | +0.014% | $13K | $1.3M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 437.92 | −0.037% | $2K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 438.21 | +0.030% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 437.85 | −0.053% | $1.5M | $534K | 10x | |
| Lighter TSM | +0.0032% | 1h | 437.72 | −0.082% | $493K | $189K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 437.78 | −0.068% | $194K | $736K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0040% | 1h | 437.70 | −0.087% | $371K | $101K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 437.55 | −0.121% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 437.44 | −0.146% | $10.0M | $1.9M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 437.27 | −0.185% | $189K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 437.70 | −0.087% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 437.33 | −0.171% | $157K | $28K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 437.65 | −0.098% | $265K | $335K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythoslong | +0.0100% | 8h | 438.08 | long leg | $21 | — | 10x | |
| Aevo TSM-PERP | +0.0104% | 1h | 437.97 | −0.025% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0145% | 1h | 437.98 | −0.023% | $208K | $10K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0161% | 1h | 437.97 | −0.025% | $4 | $13K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +1.340% | $6K | $38K | 12x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Lighter TSM
Lighter RH TSM
Coinbase International TSM-PERP-INTX
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Aevo TSM-PERP
Phoenix TSM
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP