Funding you earn now, next payment 21:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.042%
Price spread now: Bitget against Phoenix+0.016%89s7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as 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−$540.542% of the position
Funding, last 7 days−0.219%−$22 on $10k
+Price spread, last 3 days (all we have)−0.060%−$6 · spread now +0.016%, 7d avg +0.035%
=The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. The two prices were read 89 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 | Phoenix TSM | 444.80 | 0.0180 | pay 0.0022% / 1h | 27m 55s | $216K | $5K | 10x |
| Short | Bitget TSMUSDT | 444.87 | 0 | get 0.0000% / 8h | 2h 27m | $1.6M | $1.5M | 20x |
Phoenix TSM
Bitget TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$37.77
- Price spread: +0.016% → +0.035%
- −$1.94
- Slippage, 4 orders
- −$35.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$93.94
- Costs to cover
- 0.542%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 56 min ago; Bitget: live order book, 4 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 Phoenix live order book, 56 min ago | 3.82 bp | 12.2 bp −$12 | 25.9 bp −$259 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 3.82 bp | 11.6 bp −$12 | 19.1 bp −$191 | 52.5 bp −$5,252 | 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 | −0.0774% | 4h | 444.96 | +0.035% | $48K | $215K | 10x | as long as short |
| BloFin TSM-USDT | −0.0026% | 8h | 444.98 | +0.040% | $44K | $104K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.92 | +0.027% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.91 | +0.024% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 444.98 | +0.039% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.64 | −0.036% | $2.0M | $418K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.96 | +0.036% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.72 | −0.018% | $1.7M | $920K | 100x | as long as short |
| Bitget TSMUSDTshort | 0.0000% | 8h | 444.87 | +0.016% | $1.6M | $1.5M | 20x | |
| Variational Omni TSM | 0.0000% | 8h | 444.90 | +0.024% | $551K | $85K | — | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 444.99 | +0.042% | $17K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.97 | +0.038% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.78 | −0.004% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.93 | +0.029% | $1.5M | $463K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.60 | −0.045% | $356K | $96K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.05 | +0.056% | $201K | $661K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.77 | −0.007% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.64 | −0.036% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.78 | −0.004% | $188K | $82K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.69 | −0.025% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.78 | −0.004% | $159K | $20K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0087% | 1h | 444.98 | +0.040% | $4 | $61K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.54 | −0.058% | $272K | $341K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.98 | +0.040% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.71 | −0.021% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0180% | 1h | 444.80 | long leg | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 468.41 | +5.308% | $7K | $39K | 12x | as long as short |
| Lighter TSM | +0.0624% | 1h | 445.86 | +0.238% | $503K | $159K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Deribit TSM_USDC-PERPETUAL
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM