Funding you earn now, next payment 22:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h +0.099%
Price spread now: Deribit against Phemex+0.040%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.040% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 444.97 | 0 | get 0.0000% / 8h | 2h 04m | $1.5M | $465K | 10x |
| Short | Deribit TSM_USDC-PERPETUAL | 445.15 | 0.0312 | get 0.0039% / 1h | 4m 40s | $4 | $61K | 10x |
Phemex TSMUSDT
Deribit TSM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $65.5
- Price spread: +0.040% → 0.000%
- $4.05
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $50.55
- Costs to cover
- 0.190%
- Break-even
- 1.6 days
Slippage unknown: Phemex: live order book, 3 min ago; Deribit: no order-book sample. 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 Phemex live order book, 3 min ago | 0.34 bp | 31.4 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | −0.0029% | 8h | 445.07 | +0.022% | $44K | $105K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.04 | +0.017% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.06 | +0.020% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.11 | +0.031% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.85 | −0.027% | $2.0M | $419K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.02 | +0.011% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.86 | −0.025% | $1.7M | $923K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.03 | +0.013% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.10 | +0.030% | $551K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.14 | +0.037% | $7K | $1.1M | 10x | as long as short |
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 445.11 | +0.031% | $1K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.81 | −0.036% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 444.97 | long leg | $1.5M | $465K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.60 | −0.083% | $356K | $96K | 10x | as long as short |
| edgeX TSMUSDC | +0.0026% | 4h | 445.17 | +0.046% | $48K | $214K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.18 | +0.047% | $224K | $685K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.90 | −0.016% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.70 | −0.061% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.96 | −0.002% | $188K | $82K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.74 | −0.052% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.02 | +0.011% | $158K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.65 | −0.072% | $269K | $341K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.16 | +0.043% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.29 | +0.072% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0180% | 1h | 444.99 | +0.004% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 468.41 | +5.268% | $7K | $39K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUALshort | +0.0312% | 1h | 445.15 | +0.040% | $4 | $61K | 10x | |
| Lighter TSM | +0.0672% | 1h | 445.89 | +0.207% | $503K | $161K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
edgeX TSMUSDC
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