Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h −0.043%
Price spread now: Vest against Phoenix−0.027%58s7-day average — · you buy dearer than you sell
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
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Vest is 0.027% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 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 | 439.88 | 0.0146 | pay 0.0018% / 1h | 18m 26s | $214K | $5K | 10x |
| Short | Vest TSM-USD-PERP | 439.76 | 0.0046 | get 0.0006% / 1h | 18m 26s | — | $2K | 25x |
Phoenix TSM
Vest TSM-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$20.98
- Price spread: −0.027% → 0.000%
- −$2.73
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$32.71
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 14 min ago; Vest: 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, 14 min ago | 3.64 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | −0.0259% | 4h | 439.74 | −0.033% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0085% | 8h | 439.79 | −0.020% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.07 | +0.044% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.81 | −0.016% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.09 | +0.048% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.01 | +0.030% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.02 | +0.033% | $559K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.21 | +0.075% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.03 | +0.034% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.76 | +0.200% | $1.5M | $528K | 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 | 439.99 | +0.025% | $497K | $188K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.95 | +0.016% | $220K | $723K | 10x | as long as short |
| Vest TSM-USD-PERPshort | +0.0046% | 1h | 439.76 | −0.027% | — | $2K | 25x | |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.69 | −0.043% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.79 | −0.020% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.69 | −0.043% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.64 | −0.055% | $157K | $29K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.125% | $366K | $97K | 10x | as long as short |
| BloFin TSM-USDT | +0.0058% | 8h | 440.25 | +0.084% | $45K | $107K | 20x | as long as short |
| Binance TSMUSDT | +0.0062% | 8h | 440.14 | +0.060% | $12.9M | $8.0M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.05 | +0.038% | $3K | $221K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0078% | 8h | 440.12 | +0.055% | $15K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.59 | −0.066% | $266K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.09 | +0.048% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.15 | +0.061% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0146% | 1h | 439.88 | long leg | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.941% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0364% | 1h | 440.12 | +0.055% | $4 | $25K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL