Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against KuCoin+0.335%7-day average +0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$300as in the Funding arb table
Net, price: spread back to 7d avg − costs−$255as in the Price arb table
costs, in and out, $10k−$2792.787% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)−0.313%−$31 · spread now +0.335%, 7d avg +0.094%
=The price spread pays, funding is against you. Phemex is 0.241% dearer against KuCoin than usual: you sell high and buy low (spread +0.335% now, against its 7-day average of +0.094%): +$24 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TSMUSDTM | 439.22 | 0.0100 | pay 0.0100% / 8h | 32m 37s | $267K | $309K | 20x |
| Short | Phemex TSMUSDT | 440.69 | 0 | get 0.0000% / 8h | 32m 37s | $1.5M | $529K | 10x |
KuCoin TSMUSDTM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- −$21
- Price spread: +0.335% → +0.094%
- $24.07
- Slippage, 4 orders
- −$254.72
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$275.65
- Costs to cover
- 2.787%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 70 min ago; Phemex: live order book, 5 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 KuCoin live order book, 70 min ago | 14.01 bp | 149.3 bp −$149 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.11 bp | 51.1 bp −$51 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0138% | 8h | 439.68 | +0.105% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.22 | +0.455% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.26 | +0.009% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.65 | +0.098% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.45 | +0.052% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.61 | +0.090% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.62 | +0.091% | $2K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.38 | +0.036% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 440.69 | +0.335% | $1.5M | $529K | 10x | |
| Lighter TSM | +0.0032% | 1h | 439.61 | +0.089% | $496K | $188K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
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 | 439.31 | +0.020% | $221K | $720K | 10x | as long as short |
| BloFin TSM-USDT | +0.0033% | 8h | 439.70 | +0.109% | $45K | $107K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.18 | −0.009% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.12 | −0.023% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.36 | +0.032% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.07 | −0.034% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.07 | −0.034% | $158K | $27K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | +0.025% | $366K | $97K | 10x | as long as short |
| Binance TSMUSDT | +0.0063% | 8h | 439.73 | +0.116% | $12.8M | $8.0M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 439.61 | +0.089% | $8K | $216K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0074% | 8h | 439.52 | +0.069% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 439.22 | long leg | $267K | $309K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.48 | +0.059% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.35 | +0.029% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.38 | +0.036% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +1.093% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0571% | 4h | 439.70 | +0.109% | $47K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0798% | 1h | 439.51 | +0.066% | $4 | $25K | 10x | as long as short |
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
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL