Funding you earn now, next payment 02:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.032%
Price spread now: Phoenix against KuCoin+0.126%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$172as in the Funding arb table
Net, price: spread back to 7d avg − costs−$172as in the Price arb table
costs, in and out, $10k−$1791.786% of the position
Funding, last 7 days+0.070%+$7 on $10k
+Price spread, last 4 days (all we have)+0.234%+$23 · spread now +0.126%, 7d avg +0.063%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.064% dearer against KuCoin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.063%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TSMUSDTM | 443.21 | 0.0100 | pay 0.0100% / 8h | 5h 48m | $268K | $319K | 20x |
| Short | Phoenix TSM | 443.77 | 0.0217 | get 0.0027% / 1h | 48m 51s | $216K | $5K | 10x |
KuCoin TSMUSDTM
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $24.49
- Price spread: +0.126% → +0.063%
- $6.36
- Slippage, 4 orders
- −$159.64
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$147.78
- Costs to cover
- 1.786%
- Break-even
- 49.2 days
Slippage from KuCoin: live order book, 48 min ago; Phoenix: live order book, 8 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 KuCoin live order book, 48 min ago | 14.40 bp | 92.1 bp −$92 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 8 min ago | 3.83 bp | 12.2 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
TSM on 27 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 | −0.0267% | 4h | 443.83 | +0.139% | $48K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 443.80 | +0.133% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.41 | +0.045% | $2.0M | $391K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.50 | +0.065% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.52 | +0.070% | $1.7M | $948K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.84 | +0.142% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.88 | +0.151% | $550K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.75 | +0.122% | $2K | $4.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 443.76 | +0.124% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 443.81 | +0.135% | $1.5M | $441K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 444.03 | +0.185% | $501K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.64 | +0.097% | $222K | $644K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.45 | +0.054% | — | $583 | 25x | as long as short |
| Binance TSMUSDT | +0.0047% | 8h | 443.69 | +0.108% | $13.0M | $6.8M | 20x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 443.63 | +0.095% | $1K | $197K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.22 | +0.002% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.49 | +0.063% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.32 | +0.025% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.41 | +0.045% | $160K | $23K | 10x | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 443.21 | long leg | $268K | $319K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.67 | +0.104% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.67 | +0.104% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.28 | +0.016% | $370K | $107K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0187% | 8h | 443.91 | +0.158% | $8K | $1.1M | 10x | as long as short |
| Phoenix TSMshort | +0.0217% | 1h | 443.77 | +0.126% | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.81 | +1.038% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0336% | 1h | 443.62 | +0.093% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Binance TSMUSDT
Extended TSM-USD
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL