Funding you earn now, next payment 04:00 UTC−0.0149%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h −0.043%
Price spread now: tradeXYZ against Phoenix−0.073%7-day average −0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 7 days−0.199%−$20 on $10k
+Price spread, last 4 days (all we have)−0.029%−$3 · spread now −0.073%, 7d avg −0.076%
=Together, before fees−0.228%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: −$4 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 | 440.27 | 0.0199 | pay 0.0025% / 1h | 6m 56s | $214K | $5K | 10x |
| Short | tradeXYZ xyz:TSM | 439.95 | 0.0050 | get 0.0006% / 1h | 6m 56s | $10.2M | $2.0M | 10x |
Phoenix TSM
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$31.36
- Price spread: −0.073% → −0.076%
- $0.37
- Slippage, 4 orders
- −$17.09
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$73.09
- Costs to cover
- 0.421%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 40 min ago; tradeXYZ: live order book, 11 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 | 2.49 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 11 min ago | 0.91 bp | 10.7 bp −$11 | 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 | −0.0980% | 4h | 440.31 | +0.008% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0220% | 8h | 440.33 | +0.014% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.53 | +0.060% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.25 | −0.005% | $2.0M | $389K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.43 | +0.036% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.33 | +0.014% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.48 | +0.047% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.34 | +0.016% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.28 | +0.002% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.68 | +0.093% | $1.5M | $488K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 | 440.35 | +0.018% | $496K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.28 | +0.002% | $219K | $677K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.03 | −0.055% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSMshort | +0.0050% | 1h | 439.95 | −0.073% | $10.2M | $2.0M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.10 | −0.039% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.95 | −0.073% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.11 | −0.036% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0064% | 8h | 440.46 | +0.043% | $12.9M | $7.5M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.36 | +0.020% | $5K | $188K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0071% | 8h | 440.39 | +0.026% | $10K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0084% | 8h | 440.38 | +0.025% | $45K | $101K | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.055% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.09 | −0.041% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.29 | +0.005% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.28 | +0.003% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0199% | 1h | 440.27 | long leg | $214K | $5K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0205% | 1h | 440.23 | −0.009% | $4 | $24K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.117% | $6K | $38K | 12x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
BloFin TSM-USDT
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP