Funding you earn now, next payment 00:00 UTC−0.0203%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h −0.060%
Price spread now: Coinbase International against Phoenix−0.212%7-day average −0.196% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$330.331% of the position
Funding, last 7 days−0.433%−$43 on $10k
+Price spread, last 3 days (all we have)+0.189%+$19 · spread now −0.212%, 7d avg −0.196%
=The price spread sits at its 7-day average of −0.196%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 447.90 | 0.0179 | pay 0.0022% / 1h | 24m 45s | $218K | $5K | 10x |
| Short | Coinbase International TSM-PERP-INTX | 446.95 | −0.0024 | pay 0.0003% / 1h | 24m 45s | $358K | $101K | 10x |
Phoenix TSM
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$42.64
- Price spread: −0.212% → −0.196%
- −$1.61
- Slippage, 4 orders
- −$16.12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$77.37
- Costs to cover
- 0.331%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 42 min ago; Coinbase International: live order book, 48 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 Phoenix live order book, 42 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 48 min ago | 1.57 bp | 6.6 bp −$7 | 11.9 bp −$119 | 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 | −0.0968% | 4h | 448.01 | +0.025% | $48K | $215K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | −0.0024% | 1h | 446.95 | −0.212% | $358K | $101K | 10x | |
| Aster TSMUSDT | 0.0000% | 8h | 447.77 | −0.029% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.75 | −0.034% | $5K | $207K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 447.70 | −0.045% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.65 | −0.056% | $2.0M | $411K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.67 | −0.051% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.63 | −0.060% | $1.7M | $923K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.92 | +0.005% | $555K | $84K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 447.91 | +0.002% | $2K | $4.9M | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 447.95 | +0.011% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 448.01 | +0.025% | $1.5M | $454K | 10x | as long as short |
| BloFin TSM-USDT | +0.0020% | 8h | 447.87 | −0.007% | $44K | $102K | 20x | as long as short |
| Bitget TSMUSDT | +0.0028% | 8h | 447.81 | −0.020% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.74 | −0.036% | $225K | $648K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.76 | −0.031% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.38 | −0.116% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.72 | −0.040% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.50 | −0.089% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.44 | −0.103% | $158K | $20K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0055% | 8h | 448.00 | +0.023% | $13K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.49 | −0.092% | $271K | $312K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.83 | −0.016% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.86 | −0.010% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0179% | 1h | 447.90 | long leg | $218K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 452.64 | +1.058% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0272% | 1h | 448.35 | +0.100% | $506K | $167K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0309% | 1h | 447.79 | −0.025% | $4 | $32K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Bitget TSMUSDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL