Funding you earn now, next payment 08:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.57 per $10,000 · paid last 24h −0.006%
Price spread now: Phemex against Binance+0.255%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$1161.159% of the position
Funding, last 7 days+0.250%+$25 on $10k
+Price spread, last 4 days (all we have)−0.245%−$24 · spread now +0.255%, 7d avg +0.010%
=The price spread pays, funding is against you. Phemex is 0.245% dearer against Binance than usual: you sell high and buy low (spread +0.255% now, against its 7-day average of +0.010%): +$25 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days. Mind the row above: over the last 7 days funding on this pair paid +0.250%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TSMUSDT | 439.55 | 0.0057 | pay 0.0057% / 8h | 2h 26m | $12.8M | $7.7M | 20x |
| Short | Phemex TSMUSDT | 440.67 | 0 | get 0.0000% / 8h | 2h 26m | $1.5M | $505K | 10x |
Binance TSMUSDT
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$11.94
- Price spread: +0.255% → +0.010%
- $24.54
- Slippage, 4 orders
- −$93.92
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$103.32
- Costs to cover
- 1.159%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Phemex: live order book, 1 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 Binance live order book, 14 min ago | 0.23 bp | 10.4 bp −$10 | 25.4 bp −$254 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 1.59 bp | 65.2 bp −$65 | 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 | −0.0300% | 4h | 439.84 | +0.066% | $47K | $215K | 10x | as long as short |
| Bitget TSMUSDT | −0.0236% | 8h | 439.53 | −0.004% | $1.7M | $1.6M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.66 | +0.026% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.33 | −0.050% | $2.0M | $399K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.37 | −0.040% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.40 | −0.034% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.59 | +0.009% | $547K | $42K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.43 | −0.027% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.69 | +0.032% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 440.67 | +0.255% | $1.5M | $505K | 10x |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 439.78 | +0.053% | $495K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.54 | −0.002% | $219K | $681K | 10x | as long as short |
| BloFin TSM-USDT | +0.0043% | 8h | 439.42 | −0.029% | $45K | $103K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.23 | −0.072% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.23 | −0.072% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.35 | −0.045% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.23 | −0.072% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.98 | −0.129% | $158K | $26K | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.41 | −0.031% | $6K | $181K | 10x | as long as short |
| Binance TSMUSDTlong | +0.0057% | 8h | 439.55 | long leg | $12.8M | $7.7M | 20x | |
| GRVT TSM_USDT_Perp | +0.0058% | 8h | 439.81 | +0.060% | $8K | $1.3M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0069% | 1h | 439.33 | −0.050% | $4 | $24K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 439.33 | −0.050% | $366K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.40 | −0.034% | $267K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.38 | −0.038% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.44 | −0.024% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0163% | 1h | 439.73 | +0.041% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.65 | +1.161% | $6K | $38K | 12x | 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
Extended TSM-USD
GRVT TSM_USDT_Perp
Deribit TSM_USDC-PERPETUAL
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP