Funding you earn now, next payment 00:00 UTC−0.0079%/8h= −8.7% APRpaid last 24h −0.032%
Price spread now: KuCoin against Phoenix−0.065%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$188as in the Funding arb table
Net, price: spread back to 7d avg − costs−$181as in the Price arb table
costs, in and out, $10k−$1811.808% of the position
Funding, last 7 days−0.068%−$7 on $10k
+Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.065%, 7d avg −0.064%
=The price spread sits at its 7-day average of −0.064%, so right now this pair is about funding alone: −$2 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 | 447.84 | 0.0179 | pay 0.0022% / 1h | 27m 05s | $218K | $5K | 10x |
| Short | KuCoin TSMUSDTM | 447.55 | 0.0100 | get 0.0100% / 8h | 7h 27m | $272K | $312K | 20x |
Phoenix TSM
KuCoin TSMUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$16.6
- Price spread: −0.065% → −0.064%
- −$0.09
- Slippage, 4 orders
- −$161.78
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$197.47
- Costs to cover
- 1.808%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 40 min ago; KuCoin: live order book, 24 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, 40 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 24 min ago | 16.89 bp | 53.4 bp −$53 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0052% | 4h | 448.02 | +0.041% | $48K | $215K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | −0.199% | $358K | $101K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.76 | −0.018% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.96 | +0.027% | $5K | $208K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 448.07 | +0.051% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.88 | +0.009% | $2.0M | $411K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.98 | +0.031% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.75 | −0.020% | $1.7M | $917K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.25 | −0.133% | $554K | $84K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 447.79 | −0.011% | $13K | $1.1M | 10x | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 | 448.07 | +0.051% | $2K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 448.10 | +0.058% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 448.14 | +0.067% | $1.5M | $454K | 10x | as long as short |
| BloFin TSM-USDT | +0.0015% | 8h | 448.03 | +0.042% | $44K | $102K | 20x | as long as short |
| Bitget TSMUSDT | +0.0020% | 8h | 447.96 | +0.027% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.97 | +0.029% | $232K | $639K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.80 | −0.009% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.70 | −0.031% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.78 | −0.013% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.71 | −0.029% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.76 | −0.018% | $158K | $20K | 10x | as long as short |
| KuCoin TSMUSDTMshort | +0.0100% | 8h | 447.55 | −0.065% | $272K | $312K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.84 | 0.000% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.96 | +0.027% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0179% | 1h | 447.84 | long leg | $218K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 452.64 | +1.072% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0272% | 1h | 448.50 | +0.147% | $506K | $167K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0688% | 1h | 447.97 | +0.029% | $4 | $32K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Bitget TSMUSDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL