Funding you earn now, next payment 06:00 UTC+0.0113%/8h= +12.4% APRnext payment +$0.14 per $10,000 · paid last 24h +0.042%
Price spread now: Phoenix against Ondo Perps+0.059%108s7-day average +0.056% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.163%+$16 on $10k
+Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.059%, 7d avg +0.056%
=Together, before fees+0.208%+ Points / potential airdropOndo Perps: Active · farm board+$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps TSM-USD.P | 438.99 | 0.0050 | pay 0.0006% / 1h | 25m 39s | $157K | $27K | 10x |
| Short | Phoenix TSM | 439.25 | 0.0164 | get 0.0020% / 1h | 25m 39s | $214K | $5K | 10x |
Ondo Perps TSM-USD.P
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $23.77
- Price spread: +0.059% → +0.056%
- $0.28
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $12.04
- Costs to cover
- 0.120%
- Break-even
- 3.5 days
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 11 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 Phoenix live order book, 11 min ago | 2.73 bp | 9.7 bp −$10 | 19.5 bp −$195 | 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 | −0.0750% | 4h | 439.46 | +0.106% | $47K | $215K | 10x | as long as short |
| Bitget TSMUSDT | −0.0231% | 8h | 439.66 | +0.153% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.45 | +0.104% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.27 | +0.064% | $2.0M | $398K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.59 | +0.137% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.39 | +0.091% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.63 | +0.145% | $558K | $37K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.69 | +0.159% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.57 | +0.132% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.68 | +0.385% | $1.5M | $517K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 439.56 | +0.130% | $495K | $137K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 439.44 | +0.103% | $224K | $684K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.21 | +0.050% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | +0.077% | $366K | $102K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.22 | +0.052% | $10.2M | $1.7M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.33 | +0.077% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.14 | +0.034% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Plong | +0.0050% | 1h | 438.99 | long leg | $157K | $27K | 10x | |
| Extended TSM-USD | +0.0080% | 1h | 439.56 | +0.130% | $3K | $155K | 10x | as long as short |
| Binance TSMUSDT | +0.0081% | 8h | 439.70 | +0.162% | $12.9M | $7.9M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0088% | 8h | 439.40 | +0.093% | $14K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0095% | 8h | 439.63 | +0.146% | $45K | $106K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.11 | +0.027% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.56 | +0.130% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.57 | +0.132% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0164% | 1h | 439.25 | +0.059% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.27 | +1.203% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0775% | 1h | 439.49 | +0.114% | $4 | $25K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Coinbase International TSM-PERP-INTX
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL