Funding you earn now, next payment 01:00 UTC−0.0129%/8h= −14.1% APRnext payment −$0.16 per $10,000 · paid last 24h −0.046%
Price spread now: Ondo Perps against Phoenix−0.005%48s7-day average −0.055% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.160%−$16 on $10k
+Price spread, last 4 days (all we have)−0.316%−$32 · spread now −0.005%, 7d avg −0.055%
=Together, before fees−0.476%+ Points / potential airdropOndo Perps: Active · farm board−$48 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Ondo Perps is 0.051% dearer against Phoenix than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.055%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 31 hours. The two prices were read 48 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 | 444.44 | 0.0179 | pay 0.0022% / 1h | 36m 16s | $216K | $5K | 10x |
| Short | Ondo Perps TSM-USD.P | 444.42 | 0.0050 | get 0.0006% / 1h | 36m 16s | $160K | $25K | 10x |
Phoenix TSM
Ondo Perps TSM-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$27
- Price spread: −0.005% → −0.055%
- $5.06
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$33.94
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 26 min ago; Ondo Perps: 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, 26 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 444.65 | +0.047% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.39 | −0.011% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.67 | +0.052% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.51 | +0.016% | $1.7M | $915K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.78 | +0.077% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.77 | +0.074% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.80 | +0.081% | $1K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.60 | +0.036% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.84 | +0.090% | $1.5M | $453K | 10x | as long as short |
| Binance TSMUSDT | +0.0005% | 8h | 444.86 | +0.095% | $13.1M | $6.9M | 20x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Binance TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TSM-USD | +0.0008% | 1h | 444.71 | +0.061% | $5K | $196K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.22 | −0.050% | $366K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.281% | $45K | $99K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.61 | +0.038% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.31 | −0.029% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.27 | −0.038% | $10.2M | $2.3M | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.22 | −0.050% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Pshort | +0.0050% | 1h | 444.42 | −0.005% | $160K | $25K | 10x | |
| Polymarket Perps TSM-USD | +0.0052% | 1h | 444.60 | +0.036% | $200K | $45K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0066% | 8h | 444.89 | +0.101% | $17K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.41 | −0.007% | $269K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.72 | +0.063% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.70 | +0.059% | $125 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0179% | 1h | 444.44 | long leg | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.402% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0424% | 1h | 445.11 | +0.151% | $502K | $170K | 10x | as long as short |
| edgeX TSMUSDC | +0.0704% | 4h | 444.76 | +0.071% | $48K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.1079% | 1h | 444.67 | +0.052% | $4 | $23K | 10x | as long as short |
Extended TSM-USD
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
SoDEX TSM-USD
Polymarket Perps TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Lighter TSM
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL