Funding you earn now, next payment 05:00 UTC+0.0575%/8h= +62.9% APRpaid last 24h −0.029%
Price spread now: edgeX against Phoenix+0.102%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.102%, 7d avg +0.013%
=Together, before fees−0.489%+ Points / potential airdropedgeX: Active · farm board−$49 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and edgeX is 0.089% dearer against Phoenix than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.353%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.353% in total (about -18.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 439.78 | 0.0163 | pay 0.0020% / 1h | 35m 24s | $214K | $5K | 10x |
| Short | edgeX TSMUSDC | 440.23 | 0.0738 | get 0.0369% / 4h | 2h 35m | $47K | $216K | 10x |
Phoenix TSM
edgeX TSMUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $120.66
- Price spread: +0.102% → +0.013%
- $8.87
- Slippage, 4 orders
- −$25.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $88.28
- Costs to cover
- 0.412%
- Break-even
- 1.9 days
Slippage from Phoenix: live order book, 7 min ago; edgeX: live order book, 12 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, 7 min ago | 2.95 bp | 10.4 bp −$10 | 21.3 bp −$213 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 12 min ago | 5.55 bp | 10.2 bp −$10 | 12.8 bp −$128 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0182% | 8h | 440.45 | +0.152% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.19 | +0.093% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.03 | +0.057% | $2.0M | $397K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.13 | +0.080% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.02 | +0.055% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.11 | +0.074% | $545K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.21 | +0.098% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.18 | +0.091% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.56 | +0.177% | $1.5M | $500K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 440.15 | +0.084% | $496K | $137K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 440.12 | +0.077% | $219K | $681K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.61 | −0.039% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.73 | −0.011% | $10.2M | $1.9M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.00 | +0.050% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.58 | −0.045% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.62 | −0.036% | $159K | $25K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0052% | 8h | 440.15 | +0.085% | $8K | $1.3M | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 440.18 | +0.090% | $6K | $196K | 10x | as long as short |
| Binance TSMUSDT | +0.0059% | 8h | 440.27 | +0.111% | $12.9M | $7.7M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 440.03 | +0.057% | $367K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0073% | 8h | 440.26 | +0.109% | $45K | $102K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.81 | +0.007% | $268K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.91 | +0.030% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.10 | +0.073% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0163% | 1h | 439.78 | long leg | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.58 | +1.319% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDCshort | +0.0738% | 4h | 440.23 | +0.102% | $47K | $216K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0910% | 1h | 440.17 | +0.089% | $4 | $24K | 10x | 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
GRVT TSM_USDT_Perp
Extended TSM-USD
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL