Funding you earn now, next payment 04:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.031%
Price spread now: KuCoin against Phoenix+0.018%78s7-day average −0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1431.434% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.018%, 7d avg −0.063%
=The price spread pays, funding is against you. KuCoin is 0.081% dearer against Phoenix than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.063%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.071% in total) that is about 7.9 days. The two prices were read 78 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 | 440.27 | 0.0199 | pay 0.0025% / 1h | 4m 08s | $214K | $5K | 10x |
| Short | KuCoin TSMUSDTM | 440.35 | 0.0100 | get 0.0100% / 8h | 3h 04m | $267K | $311K | 20x |
Phoenix TSM
KuCoin TSMUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$20.86
- Price spread: +0.018% → −0.063%
- $8.11
- Slippage, 4 orders
- −$124.36
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$156.11
- Costs to cover
- 1.434%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 43 min ago; KuCoin: live order book, 68 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, 43 min ago | 2.49 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 68 min ago | 16.99 bp | 50.1 bp −$50 | doesn't fit | 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 | −0.0980% | 4h | 440.31 | +0.008% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0223% | 8h | 440.77 | +0.114% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.77 | +0.114% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.49 | +0.050% | $2.0M | $389K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.71 | +0.100% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.56 | +0.066% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.47 | +0.046% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.86 | +0.134% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.67 | +0.091% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.93 | +0.150% | $1.5M | $490K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.46 | +0.043% | $496K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.77 | +0.114% | $219K | $677K | 10x | as long as short |
| BloFin TSM-USDT | +0.0034% | 8h | 440.54 | +0.061% | $45K | $101K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.30 | +0.007% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.39 | +0.027% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.53 | +0.059% | $192K | $61K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.22 | −0.011% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.94 | −0.075% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0062% | 8h | 440.81 | +0.123% | $12.9M | $7.5M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.75 | +0.108% | $5K | $188K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0069% | 8h | 440.45 | +0.042% | $10K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.055% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTMshort | +0.0100% | 8h | 440.35 | +0.018% | $267K | $311K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.74 | +0.107% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.66 | +0.089% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0199% | 1h | 440.27 | long leg | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.117% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0318% | 1h | 440.68 | +0.093% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL