Funding you earn now, next payment 10:00 UTC+0.0153%/8h= +16.8% APRpaid last 24h +0.022%
Price spread now: Phoenix against KuCoin0.000%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$196as in the Funding arb table
Net, price: spread back to 7d avg − costs−$209as in the Price arb table
costs, in and out, $10k−$2032.031% of the position
Funding, last 7 days+0.071%+$7 on $10k
+Price spread, last 4 days (all we have)+0.069%+$7 · spread now 0.000%, 7d avg +0.063%
=Funding pays, the price is against you. Phoenix is 0.063% cheaper against KuCoin than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.063%). If the spread goes back, that is −$6 on $10k: about 33 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.071% in total) that is about 6.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TSMUSDTM | 442.16 | 0.0100 | pay 0.0100% / 8h | 4h 56m | $269K | $496K | 20x |
| Short | Phoenix TSM | 442.16 | 0.0253 | get 0.0032% / 1h | 56m 46s | $206K | $14K | 10x |
KuCoin TSMUSDTM
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $32.21
- Price spread: 0.000% → +0.063%
- −$6.27
- Slippage, 4 orders
- −$184.13
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$177.19
- Costs to cover
- 2.031%
- Break-even
- 45.5 days
Slippage from KuCoin: live order book, 38 min ago; Phoenix: live order book, 44 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, 38 min ago | 8.04 bp | 134.3 bp −$134 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 3.62 bp | 11.4 bp −$11 | 24.1 bp −$241 | doesn't fit | doesn't fit |
TSM on 28 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0080% | 1h | 441.94 | −0.050% | $373K | $109K | 10x | as long as short |
| edgeX TSMUSDC | −0.0021% | 4h | 442.32 | +0.036% | $48K | $217K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 442.44 | +0.063% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 442.13 | −0.007% | $2.0M | $397K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 442.27 | +0.025% | $4.1M | $2.8M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 442.12 | −0.009% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 442.35 | +0.043% | $1.8M | $1.5M | 20x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 442.25 | +0.020% | $1K | $3.7M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | 0.0000% | 1h | 442.20 | +0.009% | $97 | $9K | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 442.06 | −0.023% | $9K | $8K | 20x | as long as short |
Coinbase International TSM-PERP-INTX
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
SunX TSM-USDT
Deribit TSM_USDC-PERPETUAL
HTX TSM-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDT | 0.0000% | 8h | 442.47 | +0.070% | $1.5M | $568K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 442.51 | +0.079% | $498K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 442.53 | +0.084% | $203K | $557K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0033% | 1h | 446.84 | +1.058% | $7K | $38K | 12x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.82 | −0.077% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.97 | −0.043% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.78 | −0.086% | $187K | $71K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.82 | −0.077% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.86 | −0.068% | $161K | $36K | 10x | as long as short |
| Variational Omni TSM | +0.0061% | 8h | 442.40 | +0.054% | $550K | $47K | — | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 442.16 | long leg | $269K | $496K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 442.25 | +0.020% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 442.32 | +0.035% | $124 | — | 10x | as long as short |
| Binance TSMUSDT | +0.0141% | 8h | 442.28 | +0.027% | $13.2M | $8.9M | 20x | as long as short |
| Extended TSM-USD | +0.0144% | 1h | 442.15 | −0.003% | $6K | $222K | 10x | as long as short |
| BloFin TSM-USDT | +0.0152% | 8h | 442.36 | +0.045% | $46K | $120K | 20x | as long as short |
| Phoenix TSMshort | +0.0253% | 1h | 442.16 | 0.000% | $206K | $14K | 10x | |
| GRVT TSM_USDT_Perp | +0.0351% | 8h | 442.48 | +0.072% | $8K | $1.4M | 10x | as long as short |
Phemex TSMUSDT
Lighter TSM
Lighter RH TSM
Injective TSM/USDC PERP
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Variational Omni TSM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Binance TSMUSDT
Extended TSM-USD
BloFin TSM-USDT
GRVT TSM_USDT_Perp