Funding you earn now, next payment 22:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h +0.058%
Price spread now: Phoenix against Variational Omni−0.070%69s7-day average −0.011% · 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)+0.067%+$7 on $10k
+Price spread, last 3 days (all we have)+0.159%+$16 · spread now −0.070%, 7d avg −0.011%
=Together, before fees+0.226%+ Points / potential airdropVariational Omni: Active · farm board+$23 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.059% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.011%). If the spread goes back, that is −$6 on $10k: about 29 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.067% in total) that is about 2.9 days. The two prices were read 69 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 | Variational Omni TSM | 445.61 | 0 | get 0.0000% / 8h | 1h 34m | $552K | $85K | — |
| Short | Phoenix TSM | 445.30 | 0.0162 | get 0.0020% / 1h | 34m 21s | $217K | $5K | 10x |
Variational Omni TSM
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $33.98
- Price spread: −0.070% → −0.011%
- −$5.94
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $21.04
- Costs to cover
- 0.070%
- Break-even
- 2.7 days
Slippage unknown: Variational Omni: RFQ quote, 50 min ago; Phoenix: live order book, 43 min ago. 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 Variational Omni RFQ quote, 50 min ago | 2.89 bp | doesn't fit | 37.1 bp −$371 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 43 min ago | 2.92 bp | 10.2 bp −$10 | 21.0 bp −$210 | 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 | −0.0322% | 4h | 445.60 | −0.002% | $48K | $215K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.39 | −0.050% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.56 | −0.012% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.64 | +0.006% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.23 | −0.086% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.51 | −0.023% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.19 | −0.095% | $1.7M | $921K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.44 | −0.039% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSMlong | 0.0000% | 8h | 445.61 | long leg | $552K | $85K | — | |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.61 | −0.001% | $15K | $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
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 | 445.63 | +0.004% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.39 | −0.050% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.05 | −0.127% | $1.5M | $468K | 10x | as long as short |
| BloFin TSM-USDT | +0.0002% | 8h | 445.66 | +0.010% | $44K | $104K | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.227% | $356K | $96K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.66 | +0.010% | $225K | $597K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.38 | −0.052% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.27 | −0.077% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.36 | −0.057% | $195K | $89K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.29 | −0.073% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.38 | −0.052% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.18 | −0.097% | $270K | $338K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.61 | −0.001% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.37 | −0.054% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0162% | 1h | 445.30 | −0.070% | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.964% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0520% | 1h | 446.02 | +0.091% | $503K | $163K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0581% | 1h | 445.58 | −0.008% | $4 | $61K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Coinbase International TSM-PERP-INTX
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL