Funding you earn now, next payment 03:00 UTC−0.0149%/8h= −16.3% APRnext payment −$0.19 per $10,000 · paid last 24h −0.044%
Price spread now: tradeXYZ against Phoenix−0.054%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$440.441% of the position
Funding, last 7 days−0.199%−$20 on $10k
+Price spread, last 4 days (all we have)−0.055%−$6 · spread now −0.054%, 7d avg −0.077%
=Together, before fees−0.254%+ Points / potential airdroptradeXYZ: Active · farm board−$25 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.022% dearer against Phoenix than usual: you sell high and buy low (spread −0.054% now, against its 7-day average of −0.077%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 12 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 441.31 | 0.0199 | pay 0.0025% / 1h | 33m 14s | $215K | $5K | 10x |
| Short | tradeXYZ xyz:TSM | 441.07 | 0.0050 | get 0.0006% / 1h | 33m 14s | $10.2M | $2.2M | 10x |
Phoenix TSM
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$31.23
- Price spread: −0.054% → −0.077%
- $2.25
- Slippage, 4 orders
- −$19.13
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$73.11
- Costs to cover
- 0.441%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 19 min ago; tradeXYZ: live order book, 5 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, 19 min ago | 3.16 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 5 min ago | 0.79 bp | 12.5 bp −$12 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0026% | 8h | 441.57 | +0.059% | $1.7M | $1.4M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.67 | +0.082% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 441.37 | +0.014% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.54 | +0.052% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.30 | −0.002% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.54 | +0.052% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.57 | +0.059% | $2K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.63 | +0.073% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.91 | +0.136% | $1.5M | $466K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 441.75 | +0.100% | $497K | $176K | 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 | 441.46 | +0.034% | $220K | $643K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.00 | −0.070% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSMshort | +0.0050% | 1h | 441.07 | −0.054% | $10.2M | $2.2M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.21 | −0.023% | $194K | $53K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.06 | −0.057% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.09 | −0.050% | $158K | $23K | 10x | as long as short |
| BloFin TSM-USDT | +0.0065% | 8h | 441.52 | +0.048% | $45K | $99K | 20x | as long as short |
| Binance TSMUSDT | +0.0069% | 8h | 441.59 | +0.063% | $13.0M | $7.1M | 20x | as long as short |
| Extended TSM-USD | +0.0072% | 1h | 441.45 | +0.032% | $1K | $190K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.16 | −0.034% | $268K | $314K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.54 | +0.052% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.44 | +0.030% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0120% | 1h | 440.79 | −0.118% | $368K | $102K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0130% | 8h | 441.53 | +0.051% | $5K | $1.2M | 10x | as long as short |
| Phoenix TSMlong | +0.0199% | 1h | 441.31 | long leg | $215K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.69 | +1.446% | $7K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0718% | 4h | 441.59 | +0.063% | $48K | $217K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0748% | 1h | 441.47 | +0.036% | $4 | $24K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Binance TSMUSDT
Extended TSM-USD
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL