Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.031%
Price spread now: Lighter RH against Phemex+0.061%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$780.785% of the position
Funding, last 7 days+0.094%+$9 on $10k
+Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.061%, 7d avg +0.018%
=Together, before fees+0.101%+ Points / potential airdropLighter RH: Points live · farm board+$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.043% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.018%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 445.06 | 0 | get 0.0000% / 8h | 1h 48m | $1.5M | $467K | 10x |
| Short | Lighter RH TSM | 445.33 | 0.0032 | get 0.0004% / 1h | 48m 15s | $224K | $597K | 10x |
Phemex TSMUSDT
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: +0.061% → +0.018%
- $4.29
- Slippage, 4 orders
- −$66.45
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$67.44
- Costs to cover
- 0.785%
- Break-even
- 77.3 days
Slippage from Phemex: live order book, 5 min ago; Lighter RH: live order book, 34 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 | 0.11 bp | 40.4 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 34 min ago | 2.25 bp | 2.8 bp −$3 | 8.9 bp −$89 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | −0.0017% | 8h | 445.46 | +0.090% | $44K | $104K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.19 | +0.029% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.31 | +0.057% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.37 | +0.070% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.08 | +0.004% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.31 | +0.056% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.16 | +0.022% | $1.7M | $919K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.30 | +0.054% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.30 | +0.054% | $551K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.35 | +0.066% | $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 | 445.38 | +0.072% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.33 | +0.061% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 445.06 | long leg | $1.5M | $467K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.103% | $356K | $96K | 10x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 445.33 | +0.061% | $224K | $597K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.95 | −0.025% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.00 | −0.013% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.16 | +0.022% | $195K | $89K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.00 | −0.013% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.88 | −0.040% | $158K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.97 | −0.020% | $269K | $340K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.32 | +0.058% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.38 | +0.072% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0162% | 1h | 445.39 | +0.074% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +1.090% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0537% | 4h | 445.31 | +0.056% | $48K | $215K | 10x | as long as short |
| Lighter TSM | +0.0656% | 1h | 445.96 | +0.202% | $503K | $160K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0762% | 1h | 445.29 | +0.052% | $4 | $61K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
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
edgeX TSMUSDC
Lighter TSM
Deribit TSM_USDC-PERPETUAL