Funding you earn now, next payment 07:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h −0.026%
Price spread now: edgeX against Phoenix+0.011%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$440.442% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 4 days (all we have)−0.273%−$27 · spread now +0.011%, 7d avg +0.014%
=Together, before fees−0.626%+ Points / potential airdropedgeX: Active · farm board−$63 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.353%, 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 | Phoenix TSM | 440.02 | 0.0146 | pay 0.0018% / 1h | 2m 35s | $209K | $5K | 10x |
| Short | edgeX TSMUSDC | 440.07 | 0.0338 | get 0.0169% / 4h | 2m 35s | $47K | $216K | 10x |
Phoenix TSM
edgeX TSMUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $40.33
- Price spread: +0.011% → +0.014%
- −$0.32
- Slippage, 4 orders
- −$28.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$4.22
- Costs to cover
- 0.442%
- Break-even
- 7.7 days
Slippage from Phoenix: live order book, 29 min ago; edgeX: live order book, 34 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, 29 min ago | 3.64 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 34 min ago | 5.80 bp | 10.5 bp −$10 | 13.0 bp −$130 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0014% | 8h | 439.96 | −0.014% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.02 | 0.000% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.81 | −0.048% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.03 | +0.002% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.81 | −0.048% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.06 | +0.008% | $559K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.00 | −0.005% | $2K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.08 | +0.014% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.52 | +0.114% | $1.5M | $522K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.93 | −0.020% | $495K | $190K | 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
Phemex TSMUSDT
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 | 439.74 | −0.064% | $222K | $725K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.74 | −0.064% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.59 | −0.098% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.77 | −0.057% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.66 | −0.082% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.96 | −0.014% | $157K | $28K | 10x | as long as short |
| Binance TSMUSDT | +0.0052% | 8h | 439.94 | −0.018% | $12.9M | $7.9M | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.83 | −0.042% | $3K | $219K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.157% | $366K | $97K | 10x | as long as short |
| BloFin TSM-USDT | +0.0065% | 8h | 440.19 | +0.039% | $45K | $107K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0071% | 8h | 440.17 | +0.034% | $15K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.74 | −0.064% | $268K | $318K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.96 | −0.014% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.03 | +0.003% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0146% | 1h | 440.02 | long leg | $209K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.909% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0296% | 1h | 440.01 | −0.002% | $4 | $25K | 10x | as long as short |
| edgeX TSMUSDCshort | +0.0338% | 4h | 440.07 | +0.011% | $47K | $216K | 10x |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL