Funding you earn now, next payment 05:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h −0.007%
Price spread now: Phoenix against Injective−1.003%7-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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 1.003% cheaper against Injective than usual: you would sell low and buy high (−$100 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TSM/USDC PERP | 445.50 | 0.0220 | pay 0.0028% / 1h | 46m 26s | $6K | $38K | 12x |
| Short | Phoenix TSM | 441.03 | 0.0163 | get 0.0020% / 1h | 46m 26s | $214K | $5K | 10x |
Injective TSM/USDC PERP
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. 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
- −$11.89
- Price spread: −1.003% → 0.000%
- −$100.34
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$119.25
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 61 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 61 min ago | 2.49 bp | 9.4 bp −$9 | 18.9 bp −$189 | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0173% | 8h | 441.02 | −1.006% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.04 | −1.001% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.85 | −1.044% | $2.0M | $396K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.10 | −0.988% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.92 | −1.028% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.03 | −1.004% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.06 | −0.997% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.78 | −0.835% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.24 | −0.956% | $1.5M | $495K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 441.03 | −1.003% | $497K | $137K | 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 | 441.09 | −0.990% | $220K | $679K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.74 | −1.068% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.78 | −1.059% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.86 | −1.042% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.71 | −1.075% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.83 | −1.048% | $157K | $23K | 10x | as long as short |
| BloFin TSM-USDT | +0.0053% | 8h | 441.07 | −0.994% | $45K | $102K | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 441.00 | −1.010% | $6K | $196K | 10x | as long as short |
| Binance TSMUSDT | +0.0058% | 8h | 441.13 | −0.981% | $12.9M | $7.6M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0058% | 8h | 440.97 | −1.017% | $9K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 440.03 | −1.228% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.71 | −1.075% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.06 | −0.997% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.04 | −1.001% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0163% | 1h | 441.03 | −1.003% | $214K | $5K | 10x | |
| Injective TSM/USDC PERPlong | +0.0220% | 1h | 445.50 | long leg | $6K | $38K | 12x | |
| Deribit TSM_USDC-PERPETUAL | +0.0385% | 1h | 441.09 | −0.990% | $97 | $24K | 10x | as long as short |
| edgeX TSMUSDC | +0.0439% | 4h | 440.98 | −1.014% | $48K | $217K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC