Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: KuCoin against Phemex−0.156%50s7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$199as 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−$2202.195% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 4 days (all we have)+0.183%+$18 · spread now −0.156%, 7d avg −0.091%
=Funding pays, the price is against you. KuCoin is 0.066% cheaper against Phemex than usual: you would sell low and buy high (spread −0.156% now, against its 7-day average of −0.091%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 441.80 | 0 | get 0.0000% / 8h | 4h 38m | $1.5M | $462K | 10x |
| Short | KuCoin TSMUSDTM | 441.11 | 0.0100 | get 0.0100% / 8h | 4h 38m | $268K | $316K | 20x |
Phemex TSMUSDT
KuCoin TSMUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: −0.156% → −0.091%
- −$6.56
- Slippage, 4 orders
- −$195.54
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$205.09
- Costs to cover
- 2.195%
- Break-even
- 75.4 days
Slippage from Phemex: live order book, 4 min ago; KuCoin: live order book, 43 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, 4 min ago | 5.66 bp | 33.5 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 43 min ago | 12.62 bp | 50.6 bp −$51 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 441.53 | −0.060% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.31 | −0.111% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.44 | −0.081% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.22 | −0.131% | $1.7M | $1.0M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 441.43 | −0.084% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.51 | −0.065% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.47 | −0.075% | $1K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.41 | −0.088% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 441.80 | long leg | $1.5M | $462K | 10x | |
| Lighter TSM | +0.0032% | 1h | 441.62 | −0.041% | $497K | $175K | 10x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 441.33 | −0.106% | $221K | $643K | 10x | as long as short |
| BloFin TSM-USDT | +0.0044% | 8h | 441.68 | −0.027% | $45K | $99K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.92 | −0.199% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.04 | −0.172% | $10.2M | $2.2M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.13 | −0.152% | $194K | $52K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.05 | −0.170% | $138 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.02 | −0.177% | $158K | $23K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 441.37 | −0.097% | $1K | $190K | 10x | as long as short |
| Binance TSMUSDT | +0.0065% | 8h | 441.48 | −0.072% | $13.0M | $7.1M | 20x | as long as short |
| KuCoin TSMUSDTMshort | +0.0100% | 8h | 441.11 | −0.156% | $268K | $316K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.39 | −0.093% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.40 | −0.090% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0120% | 1h | 440.79 | −0.229% | $368K | $102K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0122% | 8h | 441.58 | −0.050% | $16K | $1.2M | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 441.34 | −0.104% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.69 | +1.333% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0227% | 4h | 441.29 | −0.116% | $47K | $215K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0589% | 1h | 441.35 | −0.102% | $4 | $24K | 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
Binance TSMUSDT
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL