Funding you earn now, next payment 22:00 UTC−0.0058%/8h= −6.4% APRnext payment −$0.07 per $10,000 · paid last 24h −0.008%
Price spread now: Phoenix against Injective−1.005%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 1.005% cheaper against Injective than usual: you would sell low and buy high (−$100 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TSM/USDC PERP | 449.91 | 0.0220 | pay 0.0028% / 1h | 45m 24s | $7K | $38K | 12x |
| Short | Phoenix TSM | 445.39 | 0.0162 | get 0.0020% / 1h | 45m 24s | $217K | $5K | 10x |
Injective TSM/USDC PERP
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. 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
- −$12.22
- Price spread: −1.005% → 0.000%
- −$100.46
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$119.7
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 32 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 32 min ago | 2.92 bp | 10.2 bp −$10 | 21.0 bp −$210 | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | 0.0000% | 8h | 445.46 | −0.989% | $44K | $104K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.36 | −1.011% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.36 | −1.012% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.49 | −0.982% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.13 | −1.062% | $2.0M | $420K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.31 | −1.022% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.20 | −1.047% | $1.7M | $919K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.36 | −1.011% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.27 | −1.031% | $552K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.37 | −1.010% | $15K | $1.1M | 10x | as long as short |
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 445.50 | −0.980% | $1K | $5.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.04 | −1.082% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.99 | −1.094% | $1.5M | $467K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −1.180% | $356K | $96K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.50 | −0.980% | $224K | $597K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.04 | −1.082% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.06 | −1.078% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.29 | −1.027% | $195K | $89K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.98 | −1.096% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 445.01 | −1.089% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.07 | −1.076% | $270K | $339K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.39 | −1.005% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.43 | −0.996% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0162% | 1h | 445.39 | −1.005% | $217K | $5K | 10x | |
| Injective TSM/USDC PERPlong | +0.0220% | 1h | 449.91 | long leg | $7K | $38K | 12x | |
| Deribit TSM_USDC-PERPETUAL | +0.0536% | 1h | 445.39 | −1.005% | $4 | $61K | 10x | as long as short |
| Lighter TSM | +0.0648% | 1h | 446.02 | −0.865% | $503K | $160K | 10x | as long as short |
| edgeX TSMUSDC | +0.0901% | 4h | 445.37 | −1.009% | $48K | $215K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Phemex 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
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Deribit TSM_USDC-PERPETUAL
Lighter TSM
edgeX TSMUSDC