Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.031%
Price spread now: Phemex against Lighter RH+0.009%7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$660.658% of the position
Funding, last 7 days−0.094%−$9 on $10k
+Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.009%, 7d avg −0.021%
=Together, before fees−0.160%+ Points / potential airdropLighter RH: Points live · farm board−$16 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.030% dearer against Lighter RH than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.021%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH TSM | 446.87 | 0.0032 | pay 0.0004% / 1h | 12m 28s | $229K | $596K | 10x |
| Short | Phemex TSMUSDT | 446.91 | 0 | get 0.0000% / 8h | 12m 28s | $1.5M | $455K | 10x |
Lighter RH TSM
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter RH. 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
- −$6.72
- Price spread: +0.009% → −0.021%
- $3.03
- Slippage, 4 orders
- −$53.82
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$69.51
- Costs to cover
- 0.658%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 65 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 Lighter RH live order book, 65 min ago | 1.68 bp | 2.0 bp −$2 | 13.3 bp −$133 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.46 bp | 33.9 bp −$34 | 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 | −0.0225% | 4h | 446.76 | −0.024% | $48K | $216K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.18 | −0.154% | $357K | $97K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.63 | −0.053% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.69 | −0.041% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.77 | −0.022% | $13.2M | $6.8M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 446.56 | −0.069% | $2.0M | $415K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.76 | −0.025% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.37 | −0.112% | $1.7M | $911K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.73 | −0.031% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.83 | −0.009% | $553K | $84K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 446.81 | −0.013% | $7K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.76 | −0.025% | $1K | $5.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.59 | −0.063% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 446.91 | +0.009% | $1.5M | $455K | 10x | |
| BloFin TSM-USDT | 0.0000% | 8h | 446.78 | −0.020% | $44K | $103K | 20x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0019% | 1h | 446.64 | −0.051% | $4 | $61K | 10x | as long as short |
| Lighter RH TSMlong | +0.0032% | 1h | 446.87 | long leg | $229K | $596K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.60 | −0.060% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.47 | −0.090% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.48 | −0.087% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.48 | −0.087% | $144 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.39 | −0.107% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 446.35 | −0.116% | $271K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.73 | −0.031% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.85 | −0.005% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.78 | −0.020% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +0.862% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0264% | 1h | 447.28 | +0.092% | $505K | $166K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
BloFin TSM-USDT
Deribit TSM_USDC-PERPETUAL
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
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM