TSM

Alert: funding

Alert: spread

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: Orderly against Phemex−0.152%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Orderly

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Orderly is 0.152% cheaper against Phemex than usual: you would sell low and buy high (spread −0.152% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TSMUSDT	440.76	0	get 0.0000% / 8h	18m 44s	$1.5M	$528K	10x
Short	Orderly PERP_TSM_USDC_mythos	440.09	0.0100	get 0.0100% / 8h	18m 44s	$21	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee OrderlybpOrdersPrice spread, now −0.152%Rate

Funding earned: $21
Price spread: −0.152% → 0.000%: −$15.2
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$12.2
Costs to cover: 0.180%
Break-even: 11.1 days

Slippage unknown: Phemex: live order book, 4 min ago; Orderly: 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, 4 min ago	1.13 bp	27.9 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
edgeX TSMUSDC	−0.0259%	4h	439.74	−0.232%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0091%	8h	439.78	−0.222%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.16	−0.137%	$82K	$2K	20x	as long as short
Bybit TSMUSDT	0.0000%	8h	439.91	−0.193%	$2.0M	$400K	50x	as long as short
OKX TSM-USDT-SWAP	0.0000%	8h	440.10	−0.150%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.96	−0.182%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.02	−0.167%	$559K	$38K	—	as long as short
SunX TSM-USDT	0.0000%	8h	440.19	−0.129%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.03	−0.166%	$9K	$8K	20x	as long as short
Phemex TSMUSDTlong	0.0000%	8h	440.76	long leg	$1.5M	$528K	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	439.99	−0.175%	$497K	$188K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.95	−0.184%	$220K	$723K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.84	−0.209%	—	$2K	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.83	−0.211%	$10.1M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.77	−0.225%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.64	−0.254%	$135	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.64	−0.254%	$157K	$29K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0056%	1h	439.33	−0.324%	$366K	$97K	10x	as long as short
BloFin TSM-USDT	+0.0058%	8h	440.25	−0.116%	$45K	$107K	20x	as long as short
Binance TSMUSDT	+0.0062%	8h	440.21	−0.125%	$12.9M	$7.9M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	440.10	−0.150%	$3K	$221K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0078%	8h	440.12	−0.145%	$15K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.66	−0.250%	$266K	$309K	20x	as long as short
Orderly PERP_TSM_USDC_mythosshort	+0.0100%	8h	440.09	−0.152%	$21	—	10x
Aevo TSM-PERP	+0.0104%	1h	440.17	−0.135%	$123	—	10x	as long as short
Phoenix TSM	+0.0146%	1h	439.88	−0.200%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.02	+0.740%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0455%	1h	440.10	−0.150%	$4	$25K	10x	as long as short