Funding you earn now, next payment 22:00 UTC−0.0112%/8h= −12.2% APRnext payment −$0.14 per $10,000 · paid last 24h −0.031%
Price spread now: SoDEX against Phoenix−0.099%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and SoDEX is 0.099% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 446.27 | 0.0162 | pay 0.0020% / 1h | 8m 28s | $217K | $5K | 10x |
| Short | SoDEX TSM-USD | 445.83 | 0.0050 | get 0.0006% / 1h | 8m 28s | $145 | $3K | 10x |
Phoenix TSM
SoDEX TSM-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$23.48
- Price spread: −0.099% → 0.000%
- −$9.86
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$48.34
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 4 min ago; SoDEX: 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, 4 min ago | 2.69 bp | 9.6 bp −$10 | 19.1 bp −$191 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0208% | 4h | 446.21 | −0.015% | $48K | $214K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.11 | −0.036% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.16 | −0.025% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.23 | −0.009% | $13.2M | $7.0M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.86 | −0.092% | $2.0M | $423K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.22 | −0.011% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.99 | −0.063% | $1.7M | $924K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.08 | −0.043% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.20 | −0.015% | $553K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.23 | −0.009% | $5K | $1.1M | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 446.21 | −0.013% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.04 | −0.052% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.06 | −0.271% | $1.5M | $472K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.374% | $356K | $96K | 10x | as long as short |
| BloFin TSM-USDT | +0.0029% | 8h | 446.23 | −0.009% | $44K | $105K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.26 | −0.002% | $225K | $602K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.00 | −0.061% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.81 | −0.103% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.83 | −0.099% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USDshort | +0.0050% | 1h | 445.83 | −0.099% | $145 | $3K | 10x | |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.66 | −0.137% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.72 | −0.123% | $271K | $328K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.16 | −0.025% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.17 | −0.021% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0162% | 1h | 446.27 | long leg | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.816% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0288% | 1h | 446.17 | −0.022% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0384% | 1h | 446.71 | +0.099% | $504K | $167K | 10x | as long as short |
SunX TSM-USDT
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
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
Lighter TSM