Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against tradeXYZ+0.218%48s7-day average +0.108% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$980.978% of the position
Funding, last 7 days−0.082%−$8 on $10k
+Price spread, last 4 days (all we have)−0.148%−$15 · spread now +0.218%, 7d avg +0.108%
=Together, before fees−0.231%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.110% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.218% now, against its 7-day average of +0.108%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.4 days. The two prices were read 48 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 | tradeXYZ xyz:TSM | 439.71 | 0.0050 | pay 0.0006% / 1h | 7m 29s | $10.1M | $1.8M | 10x |
| Short | Phemex TSMUSDT | 440.67 | 0 | get 0.0000% / 8h | 7m 29s | $1.5M | $522K | 10x |
tradeXYZ xyz:TSM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against tradeXYZ. 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
- −$10.5
- Price spread: +0.218% → +0.108%
- $11.04
- Slippage, 4 orders
- −$67.8
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$97.26
- Costs to cover
- 0.978%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 11 min ago; Phemex: live order book, just now.
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 tradeXYZ live order book, 11 min ago | 1.02 bp | 12.0 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, just now | 1.25 bp | 45.5 bp −$45 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0031% | 8h | 440.06 | +0.080% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.06 | +0.079% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.92 | +0.048% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.13 | +0.096% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.96 | +0.057% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.07 | +0.082% | $559K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.13 | +0.096% | $2K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.16 | +0.102% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 440.67 | +0.218% | $1.5M | $522K | 10x | |
| Lighter TSM | +0.0032% | 1h | 440.00 | +0.066% | $495K | $190K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 439.92 | +0.048% | $222K | $725K | 10x | as long as short |
| BloFin TSM-USDT | +0.0035% | 8h | 440.37 | +0.150% | $45K | $107K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.78 | +0.016% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSMlong | +0.0050% | 1h | 439.71 | long leg | $10.1M | $1.8M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.84 | +0.030% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.74 | +0.007% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.92 | +0.048% | $157K | $28K | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 440.02 | +0.070% | $3K | $219K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.086% | $366K | $97K | 10x | as long as short |
| Binance TSMUSDT | +0.0057% | 8h | 440.12 | +0.093% | $12.9M | $7.9M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0075% | 8h | 440.18 | +0.107% | $15K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.82 | +0.025% | $267K | $313K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.10 | +0.089% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.00 | +0.065% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 440.07 | +0.082% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.980% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0364% | 1h | 440.10 | +0.089% | $4 | $25K | 10x | as long as short |
| edgeX TSMUSDC | +0.0428% | 4h | 440.08 | +0.084% | $47K | $216K | 10x | as long as short |
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC