Funding you earn now, next payment 03:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.062%
Price spread now: Gate against Phoenix−0.023%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$550.553% of the position
Funding, last 7 days−0.281%−$28 on $10k
+Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.023%, 7d avg −0.042%
=The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 441.33 | 0.0199 | pay 0.0025% / 1h | 56m 49s | $215K | $5K | 10x |
| Short | Gate TSM_USDT | 441.23 | 0 | get 0.0000% / 8h | 3h 56m | $1.7M | $1.0M | 100x |
Phoenix TSM
Gate TSM_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$41.73
- Price spread: −0.023% → −0.042%
- $1.93
- Slippage, 4 orders
- −$33.3
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$95.1
- Costs to cover
- 0.553%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 55 min ago; Gate: live order book, 1 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, 55 min ago | 3.16 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 3.29 bp | 21.0 bp −$21 | 35.0 bp −$350 | 48.3 bp −$4,826 | 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 | −0.0905% | 4h | 441.57 | +0.055% | $48K | $215K | 10x | as long as short |
| Bitget TSMUSDT | −0.0084% | 8h | 441.87 | +0.122% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.80 | +0.107% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.25 | −0.018% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.35 | +0.005% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDTshort | 0.0000% | 8h | 441.23 | −0.023% | $1.7M | $1.0M | 100x | |
| Variational Omni TSM | 0.0000% | 8h | 441.61 | +0.064% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.52 | +0.043% | $2K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.65 | +0.073% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.63 | +0.068% | $1.5M | $474K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 441.39 | +0.014% | $497K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 441.40 | +0.016% | $220K | $642K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.16 | −0.039% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.92 | −0.093% | $10.2M | $2.1M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.18 | −0.034% | $192K | $55K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.19 | −0.032% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.00 | −0.075% | $158K | $22K | 10x | as long as short |
| Binance TSMUSDT | +0.0069% | 8h | 441.41 | +0.019% | $12.9M | $7.3M | 20x | as long as short |
| Extended TSM-USD | +0.0072% | 1h | 441.32 | −0.002% | $6K | $195K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.79 | −0.122% | $368K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0090% | 8h | 441.55 | +0.050% | $45K | $99K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0098% | 8h | 441.67 | +0.077% | $10K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.22 | −0.025% | $267K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.46 | +0.029% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.46 | +0.029% | $124 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0199% | 1h | 441.33 | long leg | $215K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 446.02 | +1.063% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0385% | 1h | 441.38 | +0.011% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL