Funding you earn now, next payment 23:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h +0.059%
Price spread now: Phoenix against Phemex+0.337%7-day average −0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$1141.139% of the position
Funding, last 7 days+0.278%+$28 on $10k
+Price spread, last 3 days (all we have)−0.379%−$38 · spread now +0.337%, 7d avg −0.031%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.369% dearer against Phemex than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.031%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 445.04 | 0 | get 0.0000% / 8h | 24m 30s | $1.5M | $452K | 10x |
| Short | Phoenix TSM | 446.54 | 0.0215 | get 0.0027% / 1h | 24m 30s | $217K | $5K | 10x |
Phemex TSMUSDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $45.18
- Price spread: +0.337% → −0.031%
- $36.85
- Slippage, 4 orders
- −$94.9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$31.86
- Costs to cover
- 1.139%
- Break-even
- 11.9 days
Slippage from Phemex: live order book, 3 min ago; Phoenix: live order book, 48 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, 3 min ago | 0.34 bp | 63.0 bp −$63 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 48 min ago | 2.69 bp | 9.6 bp −$10 | 19.1 bp −$191 | 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 | −0.0024% | 1h | 446.18 | +0.256% | $357K | $97K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.53 | +0.334% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.58 | +0.347% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.69 | +0.370% | $13.2M | $6.7M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 446.43 | +0.312% | $2.0M | $415K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.76 | +0.386% | $4.0M | $2.9M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.24 | +0.270% | $1.7M | $908K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.66 | +0.364% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.47 | +0.321% | $553K | $84K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.47 | +0.322% | $7K | $1.1M | 10x | as long as short |
Coinbase International TSM-PERP-INTX
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 | 446.51 | +0.330% | $2K | $5.1M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 446.41 | +0.308% | $4 | $61K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.49 | +0.326% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 445.04 | long leg | $1.5M | $452K | 10x | |
| BloFin TSM-USDT | +0.0023% | 8h | 446.53 | +0.335% | $44K | $102K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.82 | +0.400% | $225K | $591K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.48 | +0.324% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.39 | +0.303% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.45 | +0.317% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.23 | +0.267% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.40 | +0.306% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 446.13 | +0.245% | $271K | $321K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.47 | +0.321% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.49 | +0.325% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0215% | 1h | 446.54 | +0.337% | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +1.276% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0280% | 1h | 447.19 | +0.483% | $505K | $166K | 10x | as long as short |
| edgeX TSMUSDC | +0.0598% | 4h | 446.44 | +0.314% | $48K | $214K | 10x | as long as short |
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDT
BloFin TSM-USDT
Lighter RH TSM
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
Injective TSM/USDC PERP
Lighter TSM
edgeX TSMUSDC