Funding you earn now, next payment 22:00 UTC+0.0058%/8h= +6.4% APRnext payment +$0.07 per $10,000 · paid last 24h +0.008%
Price spread now: Injective against Phoenix+0.988%112s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.988% dearer against Phoenix than usual: you sell high and buy low: +$99 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 112 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 | 445.51 | 0.0162 | pay 0.0020% / 1h | 29m 32s | $217K | $5K | 10x |
| Short | Injective TSM/USDC PERP | 449.91 | 0.0220 | get 0.0028% / 1h | 29m 32s | $7K | $38K | 12x |
Phoenix TSM
Injective TSM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $12.22
- Price spread: +0.988% → 0.000%
- $98.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $103.96
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 48 min ago; Injective: 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 Phoenix live order book, 48 min ago | 2.92 bp | 10.2 bp −$10 | 20.9 bp −$209 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 445.57 | +0.014% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.61 | +0.022% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.72 | +0.046% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.51 | 0.000% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.72 | +0.047% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.32 | −0.043% | $1.7M | $921K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.71 | +0.045% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.64 | +0.029% | $552K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.64 | +0.029% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.68 | +0.038% | $2K | $5.4M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 445.42 | −0.020% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.04 | −0.105% | $1.5M | $468K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.204% | $356K | $96K | 10x | as long as short |
| BloFin TSM-USDT | +0.0015% | 8h | 445.70 | +0.043% | $44K | $104K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.80 | +0.065% | $225K | $597K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.56 | +0.011% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.59 | +0.018% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.51 | 0.000% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.43 | −0.018% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.11 | −0.090% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.12 | −0.088% | $270K | $337K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.62 | +0.025% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.73 | +0.049% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0162% | 1h | 445.51 | long leg | $217K | $5K | 10x | |
| Injective TSM/USDC PERPshort | +0.0220% | 1h | 449.91 | +0.988% | $7K | $38K | 12x | |
| Deribit TSM_USDC-PERPETUAL | +0.0244% | 1h | 445.57 | +0.013% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0456% | 1h | 446.03 | +0.117% | $503K | $163K | 10x | as long as short |
| edgeX TSMUSDC | +0.0848% | 4h | 445.63 | +0.027% | $48K | $215K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
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
Deribit TSM_USDC-PERPETUAL
Lighter TSM
edgeX TSMUSDC