Funding you earn now, next payment 01:00 UTC+0.0129%/8h= +14.1% APRnext payment +$0.16 per $10,000 · paid last 24h +0.046%
Price spread now: Phoenix against Ondo Perps+0.005%48s7-day average +0.055% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 4 days (all we have)+0.316%+$32 · spread now +0.005%, 7d avg +0.055%
=Together, before fees+0.476%+ Points / potential airdropOndo Perps: Active · farm board+$48 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.051% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.055%). If the spread goes back, that is −$5 on $10k: about 31 hours of funding at the current rate (+$4 a day). The two prices were read 48 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 | Ondo Perps TSM-USD.P | 444.42 | 0.0050 | pay 0.0006% / 1h | 36m 18s | $160K | $25K | 10x |
| Short | Phoenix TSM | 444.44 | 0.0179 | get 0.0022% / 1h | 36m 18s | $216K | $5K | 10x |
Ondo Perps TSM-USD.P
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Ondo Perps. 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
- $27
- Price spread: +0.005% → +0.055%
- −$5.06
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $9.94
- Costs to cover
- 0.120%
- Break-even
- 4.4 days
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 26 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 26 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 444.65 | +0.051% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.39 | −0.007% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.67 | +0.056% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.51 | +0.020% | $1.7M | $915K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.78 | +0.081% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.77 | +0.079% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.80 | +0.086% | $1K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.60 | +0.041% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.84 | +0.095% | $1.5M | $453K | 10x | as long as short |
| Binance TSMUSDT | +0.0005% | 8h | 444.86 | +0.099% | $13.1M | $6.9M | 20x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Binance TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TSM-USD | +0.0008% | 1h | 444.71 | +0.065% | $5K | $196K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.22 | −0.045% | $366K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.286% | $45K | $99K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.61 | +0.043% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.31 | −0.025% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.27 | −0.034% | $10.2M | $2.3M | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.22 | −0.045% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Plong | +0.0050% | 1h | 444.42 | long leg | $160K | $25K | 10x | |
| Polymarket Perps TSM-USD | +0.0052% | 1h | 444.60 | +0.041% | $200K | $45K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0066% | 8h | 444.89 | +0.106% | $17K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.41 | −0.002% | $269K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.72 | +0.068% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.70 | +0.064% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0179% | 1h | 444.44 | +0.005% | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.406% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0424% | 1h | 445.11 | +0.155% | $502K | $170K | 10x | as long as short |
| edgeX TSMUSDC | +0.0704% | 4h | 444.76 | +0.076% | $48K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.1079% | 1h | 444.67 | +0.056% | $4 | $23K | 10x | as long as short |
Extended TSM-USD
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
SoDEX TSM-USD
Polymarket Perps TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL