Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against Gate+0.296%49s7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$119as 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−$1191.193% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 4 days (all we have)−0.269%−$27 · spread now +0.296%, 7d avg +0.070%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.226% dearer against Gate than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.070%. The two prices were read 49 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 | Gate TSM_USDT | 439.47 | 0 | get 0.0000% / 8h | 1h 44m | $1.7M | $1.1M | 100x |
| Short | Phemex TSMUSDT | 440.77 | 0 | get 0.0000% / 8h | 1h 44m | $1.5M | $515K | 10x |
Gate TSM_USDT
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. 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
- $0
- Price spread: +0.296% → +0.070%
- $22.62
- Slippage, 4 orders
- −$92.3
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$96.68
- Costs to cover
- 1.193%
- Break-even
- never at this rate
Slippage from Gate: live order book, 3 min ago; Phemex: live order book, 3 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 Gate live order book, 3 min ago | 6.03 bp | 14.7 bp −$15 | 78.7 bp −$787 | 145.8 bp −$14.6K | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.23 bp | 56.9 bp −$57 | 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 | −0.0356% | 4h | 439.66 | +0.044% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0200% | 8h | 439.69 | +0.050% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.66 | +0.042% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.49 | +0.005% | $2.0M | $396K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.63 | +0.036% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDTlong | 0.0000% | 8h | 439.47 | long leg | $1.7M | $1.1M | 100x | |
| Variational Omni TSM | 0.0000% | 8h | 439.56 | +0.020% | $557K | $36K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.70 | +0.052% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.68 | +0.048% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 440.77 | +0.296% | $1.5M | $515K | 10x |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
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 | 439.67 | +0.046% | $495K | $137K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.52 | +0.011% | $224K | $684K | 10x | as long as short |
| BloFin TSM-USDT | +0.0043% | 8h | 439.68 | +0.048% | $45K | $105K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.29 | −0.041% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | −0.032% | $366K | $102K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.23 | −0.055% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.42 | −0.011% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.20 | −0.061% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.12 | −0.080% | $157K | $27K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 439.60 | +0.030% | $5K | $179K | 10x | as long as short |
| Binance TSMUSDT | +0.0068% | 8h | 439.70 | +0.052% | $12.9M | $7.9M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0072% | 8h | 439.77 | +0.068% | $4K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.35 | −0.027% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.63 | +0.036% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.48 | +0.002% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0164% | 1h | 439.47 | 0.000% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.69 | +1.188% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0661% | 1h | 439.56 | +0.020% | $4 | $25K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
Coinbase International TSM-PERP-INTX
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL