Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.062%
Price spread now: Lighter against Phemex+0.023%7-day average +0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$910.905% of the position
Funding, last 7 days+0.406%+$41 on $10k
+Price spread, last 4 days (all we have)+0.075%+$8 · spread now +0.023%, 7d avg +0.071%
=Together, before fees+0.482%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.048% cheaper against Phemex than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.071%). If the spread goes back, that is −$5 on $10k: about 5.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.406% in total) that is about 20 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 441.77 | 0 | get 0.0000% / 8h | 4h 17m | $1.5M | $471K | 10x |
| Short | Lighter TSM | 441.87 | 0.0032 | get 0.0004% / 1h | 17m 01s | $497K | $176K | 10x |
Phemex TSMUSDT
Lighter TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $6.72
- Price spread: +0.023% → +0.071%
- −$4.79
- Slippage, 4 orders
- −$78.52
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$88.6
- Costs to cover
- 0.905%
- Break-even
- 99.3 days
Slippage from Phemex: live order book, 1 min ago; Lighter: live order book, 33 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 | 4.07 bp | 30.8 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 33 min ago | 6.55 bp | 21.8 bp −$22 | 28.3 bp −$283 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0963% | 4h | 441.88 | +0.025% | $48K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0079% | 8h | 441.92 | +0.034% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.82 | +0.012% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.59 | −0.041% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.64 | −0.029% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.59 | −0.041% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.83 | +0.014% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.66 | −0.025% | $2K | $4.3M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 441.45 | −0.072% | $97 | $24K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.47 | −0.068% | $9K | $8K | 20x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDTlong | 0.0000% | 8h | 441.77 | long leg | $1.5M | $471K | 10x | |
| Lighter TSMshort | +0.0032% | 1h | 441.87 | +0.023% | $497K | $176K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 441.53 | −0.054% | $220K | $643K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.44 | −0.075% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.40 | −0.084% | $10.2M | $2.2M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.33 | −0.100% | $194K | $53K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.32 | −0.102% | $139 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.52 | −0.057% | $158K | $23K | 10x | as long as short |
| BloFin TSM-USDT | +0.0077% | 8h | 441.70 | −0.016% | $45K | $99K | 20x | as long as short |
| Binance TSMUSDT | +0.0078% | 8h | 441.64 | −0.029% | $13.0M | $7.3M | 20x | as long as short |
| Extended TSM-USD | +0.0080% | 1h | 441.54 | −0.052% | $1K | $190K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.34 | −0.097% | $268K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.57 | −0.045% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.61 | −0.037% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0120% | 1h | 440.79 | −0.222% | $368K | $102K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0135% | 8h | 441.74 | −0.006% | $11K | $1.2M | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 441.66 | −0.025% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.69 | +1.340% | $7K | $38K | 12x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Binance TSMUSDT
Extended TSM-USD
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP