Funding you earn now, next payment 01:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.09 per $10,000 · paid last 24h −0.030%
Price spread now: Aevo against Phoenix−0.110%66s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aevo is 0.110% cheaper against Phoenix than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 66 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 | Phoenix TSM | 445.31 | 0.0179 | pay 0.0022% / 1h | 39m 40s | $217K | $5K | 10x |
| Short | Aevo TSM-PERP | 444.82 | 0.0104 | get 0.0013% / 1h | 39m 40s | $125 | — | 10x |
Phoenix TSM
Aevo TSM-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aevo against Phoenix. 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
- −$15.74
- Price spread: −0.110% → 0.000%
- −$11.03
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aevo: 8 bp × 2 orders
- −$16
- Net
- −$49.77
- Costs to cover
- 0.230%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 22 min ago; Aevo: no order-book sample. 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 Phoenix live order book, 22 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell Aevo no order-book sample | — | — | — | — | — |
Aevo: 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0896% | 4h | 445.28 | −0.006% | $48K | $215K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.83 | −0.108% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.74 | −0.127% | $5K | $198K | 10x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.59 | −0.162% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.67 | −0.144% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.60 | −0.159% | $1.7M | $914K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.82 | −0.110% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.96 | −0.079% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.83 | −0.108% | $1K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.87 | −0.099% | $9K | $9K | 20x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDT | 0.0000% | 8h | 444.93 | −0.085% | $1.5M | $453K | 10x | as long as short |
| Binance TSMUSDT | +0.0001% | 8h | 444.87 | −0.099% | $13.1M | $6.9M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 445.16 | −0.034% | $367K | $104K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.085% | $45K | $99K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0019% | 8h | 445.26 | −0.010% | $17K | $1.1M | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.83 | −0.108% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.49 | −0.184% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.41 | −0.202% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.65 | −0.148% | $200K | $45K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.38 | −0.209% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.59 | −0.162% | $160K | $25K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.52 | −0.177% | $269K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.80 | −0.115% | $21 | — | 10x | as long as short |
| Aevo TSM-PERPshort | +0.0104% | 1h | 444.82 | −0.110% | $125 | — | 10x | |
| Phoenix TSMlong | +0.0179% | 1h | 445.31 | long leg | $217K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.204% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0432% | 1h | 445.24 | −0.016% | $502K | $170K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0763% | 1h | 444.82 | −0.110% | $4 | $23K | 10x | as long as short |
Phemex TSMUSDT
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
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
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL