Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.024%
Price spread now: Lighter RH against Phemex−0.038%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$610.606% of the position
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 3 days (all we have)+0.078%+$8 · spread now −0.038%, 7d avg +0.020%
=Together, before fees+0.171%+ Points / potential airdropLighter RH: Points live · farm board+$17 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.058% cheaper against Phemex than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.020%). If the spread goes back, that is −$6 on $10k: about 6.0 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 443.81 | 0 | get 0.0000% / 8h | 5h 48m | $1.5M | $441K | 10x |
| Short | Lighter RH TSM | 443.64 | 0.0032 | get 0.0004% / 1h | 48m 56s | $222K | $644K | 10x |
Phemex TSMUSDT
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $6.72
- Price spread: −0.038% → +0.020%
- −$5.81
- Slippage, 4 orders
- −$48.59
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$59.67
- Costs to cover
- 0.606%
- Break-even
- 69.2 days
Slippage from Phemex: live order book, 4 min ago; Lighter RH: live order book, 14 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, 4 min ago | 2.03 bp | 25.7 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 14 min ago | 2.48 bp | 2.6 bp −$3 | 8.2 bp −$82 | 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 | +0.004% | $48K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 443.80 | −0.002% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 443.41 | −0.090% | $2.0M | $391K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.50 | −0.070% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.52 | −0.065% | $1.7M | $948K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.84 | +0.007% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.88 | +0.015% | $550K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 443.75 | −0.014% | $2K | $4.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 443.76 | −0.011% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 443.81 | long leg | $1.5M | $441K | 10x |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 444.03 | +0.050% | $501K | $173K | 10x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 443.64 | −0.038% | $222K | $644K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.45 | −0.081% | — | $583 | 25x | as long as short |
| Binance TSMUSDT | +0.0047% | 8h | 443.69 | −0.027% | $13.0M | $6.8M | 20x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 443.63 | −0.041% | $1K | $197K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.22 | −0.133% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.49 | −0.072% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.32 | −0.110% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.41 | −0.090% | $160K | $23K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.21 | −0.135% | $268K | $319K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.67 | −0.032% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.67 | −0.032% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.28 | −0.119% | $370K | $107K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0187% | 8h | 443.91 | +0.023% | $8K | $1.1M | 10x | as long as short |
| Phoenix TSM | +0.0217% | 1h | 443.77 | −0.009% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.81 | +0.901% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0336% | 1h | 443.62 | −0.043% | $4 | $24K | 10x | as long as short |
Lighter 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
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL