Funding you earn now, next payment 23:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%
Price spread now: Phemex against Vest+0.031%7-day average — · you sell dearer than you buy
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
=The price spread pays, funding is against you. Phemex is 0.031% dearer against Vest than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest TSM-USD-PERP | 444.95 | 0.0046 | pay 0.0006% / 1h | 49m 03s | — | — | 25x |
| Short | Phemex TSMUSDT | 445.09 | 0 | get 0.0000% / 8h | 1h 49m | $1.5M | $467K | 10x |
Vest TSM-USD-PERP
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Vest. 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
- −$9.59
- Price spread: +0.031% → 0.000%
- $3.15
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$20.45
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Phemex: live order book, 4 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 0.11 bp | 32.5 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | −0.0017% | 8h | 445.46 | +0.115% | $44K | $104K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.19 | +0.053% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.32 | +0.084% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.39 | +0.099% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.07 | +0.027% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.34 | +0.088% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.17 | +0.049% | $1.7M | $919K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.33 | +0.085% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.30 | +0.079% | $551K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.35 | +0.091% | $7K | $1.1M | 10x | as long as short |
BloFin TSM-USDT
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 | 445.44 | +0.110% | $2K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.33 | +0.085% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 445.09 | +0.031% | $1.5M | $467K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.079% | $356K | $96K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.31 | +0.081% | $224K | $597K | 10x | as long as short |
| Vest TSM-USD-PERPlong | +0.0046% | 1h | 444.95 | long leg | — | — | 25x | |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.99 | +0.009% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.15 | +0.045% | $195K | $89K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.98 | +0.007% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.88 | −0.016% | $158K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.97 | +0.004% | $269K | $340K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.40 | +0.101% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.38 | +0.096% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0162% | 1h | 445.39 | +0.099% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +1.115% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0537% | 4h | 445.31 | +0.080% | $48K | $215K | 10x | as long as short |
| Lighter TSM | +0.0656% | 1h | 445.95 | +0.225% | $503K | $160K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0896% | 1h | 445.35 | +0.090% | $4 | $61K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
Lighter RH TSM
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
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Lighter TSM
Deribit TSM_USDC-PERPETUAL