Funding you earn now, next payment 08:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.66 per $10,000 · paid last 24h +0.006%
Price spread now: Binance against Phemex−0.219%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$126as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1021.015% of the position
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 4 days (all we have)+0.209%+$21 · spread now −0.219%, 7d avg −0.010%
=Funding pays, the price is against you. Binance is 0.210% cheaper against Phemex than usual: you would sell low and buy high (spread −0.219% now, against its 7-day average of −0.010%). If the spread goes back, that is −$21 on $10k: about 11 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.250%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 440.74 | 0 | get 0.0000% / 8h | 1h 51m | $1.5M | $515K | 10x |
| Short | Binance TSMUSDT | 439.77 | 0.0066 | get 0.0066% / 8h | 1h 51m | $12.8M | $7.9M | 20x |
Phemex TSMUSDT
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $13.78
- Price spread: −0.219% → −0.010%
- −$20.95
- Slippage, 4 orders
- −$79.52
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$108.68
- Costs to cover
- 1.015%
- Break-even
- 62.2 days
Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 4 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 Phemex live order book, 2 min ago | 0.45 bp | 31.4 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 4 min ago | 0.23 bp | 8.5 bp −$8 | 19.9 bp −$199 | 88.3 bp −$8,826 | 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 | −0.0185% | 8h | 440.34 | −0.091% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.83 | −0.208% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.59 | −0.261% | $2.0M | $396K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.77 | −0.220% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.64 | −0.250% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.02 | −0.164% | $557K | $36K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.93 | −0.184% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.96 | −0.177% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 440.74 | long leg | $1.5M | $515K | 10x | |
| Lighter TSM | +0.0032% | 1h | 439.78 | −0.218% | $495K | $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
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 | 439.55 | −0.270% | $224K | $684K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.28 | −0.331% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | −0.320% | $366K | $102K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.32 | −0.322% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.61 | −0.256% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.38 | −0.309% | $134 | $3K | 10x | as long as short |
| BloFin TSM-USDT | +0.0050% | 8h | 439.94 | −0.182% | $45K | $105K | 20x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.36 | −0.313% | $157K | $27K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 439.64 | −0.249% | $5K | $179K | 10x | as long as short |
| Binance TSMUSDTshort | +0.0066% | 8h | 439.77 | −0.219% | $12.8M | $7.9M | 20x | |
| GRVT TSM_USDT_Perp | +0.0068% | 8h | 439.96 | −0.177% | $4K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.42 | −0.299% | $266K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.67 | −0.243% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.72 | −0.232% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0164% | 1h | 439.71 | −0.234% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.31 | +1.037% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0706% | 1h | 439.59 | −0.261% | $97 | $25K | 10x | as long as short |
| edgeX TSMUSDC | +0.0890% | 4h | 439.89 | −0.193% | $47K | $216K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
Coinbase International TSM-PERP-INTX
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
BloFin TSM-USDT
Ondo Perps TSM-USD.P
Extended TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC