Funding you earn now, next payment 16:00 UTC+0.0238%/8h= +26.1% APRnext payment +$2.38 per $10,000 · paid last 24h +0.009%
Price spread now: GRVT against Phemex−0.081%77s7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$94as 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−$980.984% of the position
Funding, last 7 days+0.039%+$4 on $10k
+Price spread, last 4 days (all we have)−0.099%−$10 · spread now −0.081%, 7d avg 0.000%
=Together, before fees−0.060%+ Points / potential airdropGRVT: Active · farm board−$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. GRVT is 0.081% cheaper against Phemex than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of 0.000%). If the spread goes back, that is −$8 on $10k: about 27 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.039% in total) that is about 14 days. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.039% in total (about 2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 440.32 | 0 | get 0.0000% / 8h | 6h 57m | $1.5M | $543K | 10x |
| Short | GRVT TSM_USDT_Perp | 439.96 | 0.0238 | get 0.0238% / 8h | 6h 57m | $12K | $1.3M | 10x |
Phemex TSMUSDT
GRVT TSM_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- $49.98
- Price spread: −0.081% → 0.000%
- −$8.14
- Slippage, 4 orders
- −$77.35
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$56.51
- Costs to cover
- 0.984%
- Break-even
- 14.9 days
Slippage from Phemex: live order book, 5 min ago; GRVT: live order book, 10 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, 5 min ago | 11.26 bp | 37.8 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 10 min ago | 1.25 bp | 8.8 bp −$9 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0016% | 1h | 439.24 | −0.245% | $371K | $98K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.83 | −0.112% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.68 | −0.145% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.99 | −0.075% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.84 | −0.109% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 439.99 | −0.075% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.05 | −0.061% | $551K | $44K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.19 | −0.030% | $2K | $3.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.26 | −0.014% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 440.32 | long leg | $1.5M | $543K | 10x |
Coinbase International TSM-PERP-INTX
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 | |
|---|---|---|---|---|---|---|---|---|
| Extended TSM-USD | +0.0024% | 1h | 439.93 | −0.089% | $1K | $214K | 10x | as long as short |
| Binance TSMUSDT | +0.0028% | 8h | 440.05 | −0.061% | $12.9M | $8.3M | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.93 | −0.089% | $495K | $142K | 10x | as long as short |
| BloFin TSM-USDT | +0.0044% | 8h | 440.17 | −0.034% | $45K | $111K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.82 | −0.114% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.57 | −0.170% | $10.0M | $1.9M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.72 | −0.136% | $190K | $67K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.68 | −0.145% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.48 | −0.191% | $158K | $27K | 10x | as long as short |
| Lighter RH TSM | +0.0072% | 1h | 439.96 | −0.082% | $196K | $724K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.51 | −0.184% | $267K | $372K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.99 | −0.075% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.05 | −0.062% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0145% | 1h | 439.86 | −0.104% | $209K | $10K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +0.824% | $6K | $38K | 12x | as long as short |
| GRVT TSM_USDT_Perpshort | +0.0238% | 8h | 439.96 | −0.081% | $12K | $1.3M | 10x | |
| edgeX TSMUSDC | +0.0242% | 4h | 440.12 | −0.045% | $47K | $217K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0910% | 1h | 440.13 | −0.043% | $4 | $13K | 10x | as long as short |
Extended TSM-USD
Binance TSMUSDT
Lighter TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Lighter RH TSM
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL