Funding you earn now, next payment 02:00 UTC+0.0592%/8h= +64.8% APRpaid last 24h +0.060%
Price spread now: Lighter against Phemex+0.105%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$960.960% of the position
Funding, last 7 days+0.409%+$41 on $10k
+Price spread, last 3 days (all we have)−0.078%−$8 · spread now +0.105%, 7d avg +0.070%
=Together, before fees+0.332%+ Points / potential airdropLighter: Season 3 · farm board+$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Lighter is 0.035% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.070%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.409% in total (about 21.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 446.34 | 0 | get 0.0000% / 8h | 6h 56m | $1.5M | $454K | 10x |
| Short | Lighter TSM | 446.81 | 0.0592 | get 0.0074% / 1h | 56m 27s | $504K | $168K | 10x |
Phemex TSMUSDT
Lighter TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $124.32
- Price spread: +0.105% → +0.070%
- $3.51
- Slippage, 4 orders
- −$83.98
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $31.86
- Costs to cover
- 0.960%
- Break-even
- 5.2 days
Slippage from Phemex: live order book, 1 min ago; Lighter: 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, 1 min ago | 3.25 bp | 34.0 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 8.70 bp | 23.7 bp −$24 | 39.5 bp −$395 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0864% | 4h | 447.03 | +0.155% | $48K | $215K | 10x | as long as short |
| BloFin TSM-USDT | −0.0005% | 8h | 446.19 | −0.034% | $44K | $100K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.39 | +0.010% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.22 | −0.026% | $5K | $201K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.28 | −0.013% | $13.1M | $7.0M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.93 | −0.092% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.17 | −0.038% | $4.0M | $2.9M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.02 | −0.072% | $1.7M | $898K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.30 | −0.009% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.08 | +0.165% | $554K | $82K | — | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 446.28 | −0.013% | $1K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.88 | +0.121% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 446.34 | long leg | $1.5M | $454K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 446.43 | +0.020% | $358K | $98K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0031% | 8h | 446.82 | +0.107% | $5K | $1.1M | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.17 | −0.038% | $223K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.96 | −0.085% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.91 | −0.096% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.07 | −0.060% | $199K | $44K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.98 | −0.081% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.37 | +0.007% | $159K | $23K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 446.09 | −0.056% | $271K | $315K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.17 | −0.038% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.26 | −0.018% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 446.21 | −0.029% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.67 | +1.194% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0535% | 1h | 446.21 | −0.029% | $98 | $32K | 10x | as long as short |
| Lighter TSMshort | +0.0592% | 1h | 446.81 | +0.105% | $504K | $168K | 10x |
SunX TSM-USDT
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL