Funding you earn now, next payment 04:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.061%
Price spread now: Phoenix against Aster+0.025%65s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.281%+$28 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.025% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 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 | Aster TSMUSDT | 440.82 | 0 | get 0.0000% / 8h | 3h 20m | $82K | $2K | 20x |
| Short | Phoenix TSM | 440.93 | 0.0199 | get 0.0025% / 1h | 20m 26s | $214K | $5K | 10x |
Aster TSMUSDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- $41.86
- Price spread: +0.025% → 0.000%
- $2.52
- Slippage, 4 orders
- no order book: not counted
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $29.39
- Costs to cover
- 0.150%
- Break-even
- 2.1 days
Slippage unknown: Aster: no order-book sample; Phoenix: live order book, 27 min ago. 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 Aster no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 27 min ago | 2.49 bp | 9.4 bp −$9 | 18.9 bp −$189 | doesn't fit | doesn't fit |
Aster: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0201% | 8h | 441.01 | +0.043% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDTlong | 0.0000% | 8h | 440.82 | long leg | $82K | $2K | 20x | |
| Bybit TSMUSDT | 0.0000% | 8h | 440.75 | −0.016% | $2.0M | $388K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.00 | +0.041% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.84 | +0.005% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.96 | +0.032% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.00 | +0.041% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.48 | −0.077% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.03 | +0.048% | $1.5M | $486K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 440.91 | +0.021% | $496K | $176K | 10x | as long as short |
Bitget 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 | 440.93 | +0.025% | $220K | $675K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.46 | −0.081% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.46 | −0.081% | $10.2M | $2.1M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.58 | −0.054% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.51 | −0.070% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.01 | −0.183% | $157K | $23K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.86 | +0.009% | $2K | $195K | 10x | as long as short |
| Binance TSMUSDT | +0.0067% | 8h | 440.90 | +0.018% | $12.9M | $7.5M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.179% | $367K | $102K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0092% | 8h | 440.87 | +0.012% | $8K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0096% | 8h | 441.04 | +0.050% | $45K | $100K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.37 | −0.102% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.82 | 0.000% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.74 | −0.017% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0199% | 1h | 440.93 | +0.025% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.74 | +1.116% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0476% | 1h | 440.87 | +0.012% | $4 | $24K | 10x | as long as short |
| edgeX TSMUSDC | +0.0604% | 4h | 440.70 | −0.027% | $47K | $216K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC