Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: tradeXYZ against Orderly−0.061%55s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and tradeXYZ is 0.061% cheaper against Orderly than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 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 | Orderly PERP_TSM_USDC_mythos | 439.52 | 0.0100 | pay 0.0100% / 8h | 1h 24m | $21 | — | 10x |
| Short | tradeXYZ xyz:TSM | 439.25 | 0.0050 | get 0.0006% / 1h | 24m 28s | $10.2M | $1.7M | 10x |
Orderly PERP_TSM_USDC_mythos
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Orderly. 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
- −$10.5
- Price spread: −0.061% → 0.000%
- −$6.14
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$40.64
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 4 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 Orderly no order-book sample | — | — | — | — | — |
| Sell tradeXYZ live order book, 4 min ago | 0.68 bp | 10.5 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0230% | 8h | 439.61 | +0.020% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.50 | −0.004% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.33 | −0.043% | $2.0M | $398K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.59 | +0.016% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.37 | −0.034% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.63 | +0.025% | $558K | $37K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.61 | +0.020% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.57 | +0.011% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.68 | +0.264% | $1.5M | $517K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.56 | +0.009% | $495K | $137K | 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
Phemex TSMUSDT
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 | 439.44 | −0.018% | $224K | $684K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.32 | −0.046% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | −0.043% | $366K | $102K | 10x | as long as short |
| tradeXYZ xyz:TSMshort | +0.0050% | 1h | 439.25 | −0.061% | $10.2M | $1.7M | 10x | |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.32 | −0.046% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.18 | −0.077% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.99 | −0.121% | $157K | $27K | 10x | as long as short |
| Extended TSM-USD | +0.0080% | 1h | 439.55 | +0.008% | $3K | $149K | 10x | as long as short |
| BloFin TSM-USDT | +0.0081% | 8h | 439.69 | +0.039% | $45K | $106K | 20x | as long as short |
| Binance TSMUSDT | +0.0082% | 8h | 439.69 | +0.038% | $12.9M | $7.9M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0090% | 8h | 439.55 | +0.007% | $14K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.19 | −0.075% | $266K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythoslong | +0.0100% | 8h | 439.52 | long leg | $21 | — | 10x | |
| Aevo TSM-PERP | +0.0104% | 1h | 439.39 | −0.029% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0164% | 1h | 439.35 | −0.039% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.27 | +1.081% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0889% | 1h | 439.54 | +0.005% | $4 | $25K | 10x | as long as short |
| edgeX TSMUSDC | +0.0994% | 4h | 439.53 | +0.003% | $47K | $216K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
Coinbase International TSM-PERP-INTX
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
BloFin TSM-USDT
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC