Funding you earn now, next payment 08:00 UTC+0.0058%/8h= +6.4% APRnext payment +$0.58 per $10,000 · paid last 24h +0.006%
Price spread now: Binance against Phemex−0.044%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$840.840% of the position
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.044%, 7d avg −0.009%
=Funding pays, the price is against you. Binance is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of −0.009%). If the spread goes back, that is −$3 on $10k: about 48 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.250%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 441.27 | 0 | get 0.0000% / 8h | 2h 51m | $1.5M | $494K | 10x |
| Short | Binance TSMUSDT | 441.07 | 0.0058 | get 0.0058% / 8h | 2h 51m | $12.9M | $7.6M | 20x |
Phemex TSMUSDT
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $12.24
- Price spread: −0.044% → −0.009%
- −$3.48
- Slippage, 4 orders
- −$61.96
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$75.2
- Costs to cover
- 0.840%
- Break-even
- 50.0 days
Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 4 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 Phemex live order book, 1 min ago | 1.70 bp | 34.4 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 4 min ago | 0.91 bp | 10.9 bp −$11 | 18.6 bp −$186 | 86.5 bp −$8,646 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0185% | 8h | 440.92 | −0.079% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.84 | −0.099% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.72 | −0.125% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.10 | −0.039% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.85 | −0.095% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.18 | −0.020% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.21 | −0.014% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.20 | −0.016% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 441.27 | long leg | $1.5M | $494K | 10x | |
| Lighter TSM | +0.0032% | 1h | 440.94 | −0.075% | $496K | $137K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 441.02 | −0.057% | $220K | $676K | 10x | as long as short |
| BloFin TSM-USDT | +0.0044% | 8h | 441.12 | −0.034% | $45K | $101K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.64 | −0.143% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.49 | −0.177% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.69 | −0.131% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.65 | −0.141% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.62 | −0.147% | $157K | $23K | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 440.94 | −0.074% | $6K | $196K | 10x | as long as short |
| Binance TSMUSDTshort | +0.0058% | 8h | 441.07 | −0.044% | $12.9M | $7.6M | 20x | |
| GRVT TSM_USDT_Perp | +0.0060% | 8h | 440.91 | −0.082% | $9K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 440.03 | −0.281% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.73 | −0.122% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.95 | −0.073% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.96 | −0.071% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0163% | 1h | 441.05 | −0.050% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.33 | +0.920% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0476% | 1h | 441.06 | −0.048% | $4 | $24K | 10x | as long as short |
| edgeX TSMUSDC | +0.0999% | 4h | 441.02 | −0.056% | $48K | $216K | 10x | as long as short |
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC