Funding you earn now, next payment 04:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.17 per $10,000 · paid last 24h +0.049%
Price spread now: Phoenix against Extended−0.072%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$370.374% of the position
Funding, last 7 days+0.244%+$24 on $10k
+Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.072%, 7d avg +0.005%
=Together, before fees+0.356%+ Points / potential airdropExtended: Active · farm board+$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.077% cheaper against Extended than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of +0.005%). If the spread goes back, that is −$8 on $10k: about 46 hours of funding at the current rate (+$4 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended TSM-USD | 440.70 | 0.0064 | pay 0.0008% / 1h | 15m 21s | $4K | $194K | 10x |
| Short | Phoenix TSM | 440.38 | 0.0199 | get 0.0025% / 1h | 15m 21s | $214K | $5K | 10x |
Extended TSM-USD
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. 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
- $28.42
- Price spread: −0.072% → +0.005%
- −$7.72
- Slippage, 4 orders
- −$25.42
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$16.72
- Costs to cover
- 0.374%
- Break-even
- 11.1 days
Slippage from Extended: live order book, 36 min ago; Phoenix: live order book, 32 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 Extended live order book, 36 min ago | 1.48 bp | 9.3 bp −$9 | 119.8 bp −$1,198 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 2.49 bp | 9.4 bp −$9 | 18.9 bp −$189 | 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 | −0.0208% | 8h | 440.79 | +0.021% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.74 | +0.009% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.58 | −0.026% | $2.0M | $388K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.65 | −0.011% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.47 | −0.051% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.72 | +0.006% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.78 | +0.019% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.75 | +0.012% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.81 | +0.026% | $1.5M | $486K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 440.82 | +0.028% | $496K | $176K | 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
Phemex TSMUSDT
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 | 440.71 | +0.003% | $220K | $676K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.37 | −0.074% | — | $583 | 25x | as long as short |
| edgeX TSMUSDC | +0.0046% | 4h | 440.57 | −0.029% | $47K | $217K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.31 | −0.088% | $10.2M | $2.1M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.43 | −0.060% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.25 | −0.101% | $140 | $3K | 10x | as long as short |
| BloFin TSM-USDT | +0.0050% | 8h | 440.58 | −0.026% | $45K | $100K | 20x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.97 | −0.165% | $156K | $23K | 10x | as long as short |
| Extended TSM-USDlong | +0.0064% | 1h | 440.70 | long leg | $4K | $194K | 10x | |
| Binance TSMUSDT | +0.0067% | 8h | 440.78 | +0.019% | $12.9M | $7.5M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0076% | 8h | 440.63 | −0.015% | $10K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.151% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.31 | −0.088% | $268K | $312K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.60 | −0.022% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.67 | −0.006% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0199% | 1h | 440.38 | −0.072% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.45 | +1.079% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0340% | 1h | 440.60 | −0.022% | $4 | $24K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
edgeX TSMUSDC
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
BloFin TSM-USDT
Ondo Perps TSM-USD.P
Binance TSMUSDT
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL