Funding you earn now, next payment 08:00 UTC−0.0017%/8h= −1.8% APRnext payment −$0.17 per $10,000 · paid last 24h −0.004%
Price spread now: Phemex against BloFin−0.171%719s7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as 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−$750.749% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 3 days (all we have)+0.176%+$18 · spread now −0.171%, 7d avg +0.001%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.172% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.001%). Swap the legs. The two prices were read 719 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 | BloFin TSM-USDT | 445.69 | 0.0017 | pay 0.0017% / 8h | 6h 36m | $45K | $99K | 20x |
| Short | Phemex TSMUSDT | 444.93 | 0 | get 0.0000% / 8h | 6h 36m | $1.5M | $453K | 10x |
BloFin TSM-USDT
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$3.54
- Price spread: −0.171% → +0.001%
- −$17.19
- Slippage, 4 orders
- −$50.91
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$95.63
- Costs to cover
- 0.749%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 78 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 BloFin live order book, 78 min ago | 0.11 bp | 7.2 bp −$7 | 7.3 bp −$73 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 2.59 bp | 28.3 bp −$28 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 444.71 | −0.221% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.64 | −0.236% | $5K | $196K | 10x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.39 | −0.292% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.67 | −0.229% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.62 | −0.240% | $1.7M | $915K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.79 | −0.202% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.96 | −0.165% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.82 | −0.195% | $2K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.60 | −0.245% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 444.93 | −0.171% | $1.5M | $453K | 10x |
Aster TSMUSDT
Extended TSM-USD
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Binance TSMUSDT | +0.0005% | 8h | 444.75 | −0.211% | $13.1M | $6.9M | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.22 | −0.330% | $366K | $102K | 10x | as long as short |
| BloFin TSM-USDTlong | +0.0017% | 8h | 445.69 | long leg | $45K | $99K | 20x | |
| Lighter RH TSM | +0.0032% | 1h | 444.61 | −0.242% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.34 | −0.303% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.37 | −0.296% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.59 | −0.247% | $200K | $45K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.25 | −0.323% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.42 | −0.285% | $160K | $25K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0066% | 8h | 444.89 | −0.179% | $17K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.38 | −0.294% | $269K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.78 | −0.204% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.71 | −0.221% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 444.44 | −0.280% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.117% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0424% | 1h | 445.11 | −0.130% | $502K | $170K | 10x | as long as short |
| edgeX TSMUSDC | +0.0704% | 4h | 444.76 | −0.209% | $48K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0876% | 1h | 444.70 | −0.222% | $4 | $23K | 10x | as long as short |
Binance TSMUSDT
Coinbase International TSM-PERP-INTX
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL