Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against Ondo Perps+0.107%7-day average +0.084% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.118%−$12 on $10k
+Price spread, last 3 days (all we have)−0.015%−$1 · spread now +0.107%, 7d avg +0.084%
=Together, before fees−0.133%+ Points / potential airdropOndo Perps: Active · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.023% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.084%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps TSM-USD.P | 447.28 | 0.0050 | pay 0.0006% / 1h | 21m 49s | $158K | $21K | 10x |
| Short | Phemex TSMUSDT | 447.76 | 0 | get 0.0000% / 8h | 7h 21m | $1.5M | $455K | 10x |
Ondo Perps TSM-USD.P
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Ondo Perps. 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
- −$10.58
- Price spread: +0.107% → +0.084%
- $2.35
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$25.24
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 1 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 1 min ago | 1.79 bp | 29.2 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0677% | 4h | 447.84 | +0.126% | $48K | $215K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | −0.074% | $358K | $101K | 10x | as long as short |
| BloFin TSM-USDT | −0.0011% | 8h | 447.66 | +0.085% | $44K | $101K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.60 | +0.072% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.66 | +0.085% | $5K | $207K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 447.76 | +0.107% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 447.51 | +0.051% | $2.0M | $412K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.73 | +0.101% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.58 | +0.067% | $1.7M | $925K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.92 | +0.143% | $555K | $84K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 447.77 | +0.110% | $1K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 447.80 | +0.116% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 447.76 | +0.107% | $1.5M | $455K | 10x | |
| Bitget TSMUSDT | +0.0031% | 8h | 447.64 | +0.080% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.78 | +0.112% | $224K | $648K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.67 | +0.087% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.42 | +0.031% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.56 | +0.063% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.44 | +0.036% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Plong | +0.0050% | 1h | 447.28 | long leg | $158K | $21K | 10x | |
| GRVT TSM_USDT_Perp | +0.0074% | 8h | 448.04 | +0.170% | $13K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.42 | +0.031% | $272K | $312K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.72 | +0.098% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.72 | +0.098% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 447.90 | +0.139% | $218K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 452.64 | +1.198% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0288% | 1h | 448.38 | +0.246% | $506K | $167K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0353% | 1h | 447.67 | +0.087% | $98 | $32K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Bitget TSMUSDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL