Funding you earn now, next payment 08:00 UTC+0.0002%/8h= +0.3% APRnext payment +$0.02 per $10,000 · paid last 24h +0.006%
Price spread now: Binance against Phemex+0.025%52s7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$760.763% of the position
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 2 days (all we have)−0.034%−$3 · spread now +0.025%, 7d avg 0.000%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.026% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 52 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 | Phemex TSMUSDT | 444.76 | 0 | get 0.0000% / 8h | 6h 38m | $1.5M | $453K | 10x |
| Short | Binance TSMUSDT | 444.87 | 0.0002 | get 0.0002% / 8h | 6h 38m | $13.1M | $6.9M | 20x |
Phemex TSMUSDT
Binance TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $0.5
- Price spread: +0.025% → 0.000%
- $2.59
- Slippage, 4 orders
- −$54.3
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$73.22
- Costs to cover
- 0.763%
- Break-even
- 1036.7 days
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 2 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 Phemex live order book, 4 min ago | 1.57 bp | 29.0 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 1.01 bp | 10.4 bp −$10 | 24.8 bp −$248 | 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 | −0.0896% | 4h | 445.28 | +0.118% | $48K | $215K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.76 | −0.001% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 444.69 | −0.015% | $5K | $196K | 10x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.43 | −0.074% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.68 | −0.018% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.57 | −0.043% | $1.7M | $914K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.79 | +0.007% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.96 | +0.044% | $551K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.74 | −0.004% | $1K | $4.7M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.87 | +0.025% | $9K | $9K | 20x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDTlong | 0.0000% | 8h | 444.76 | long leg | $1.5M | $453K | 10x | |
| Binance TSMUSDTshort | +0.0002% | 8h | 444.87 | +0.025% | $13.1M | $6.9M | 20x | |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 445.16 | +0.090% | $367K | $104K | 10x | as long as short |
| BloFin TSM-USDT | +0.0017% | 8h | 445.69 | +0.209% | $45K | $99K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.78 | +0.004% | $222K | $630K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 444.40 | −0.081% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 444.33 | −0.097% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.62 | −0.031% | $200K | $45K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 444.30 | −0.103% | $142 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.59 | −0.038% | $160K | $25K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0056% | 8h | 444.86 | +0.023% | $17K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 444.41 | −0.079% | $269K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.67 | −0.020% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 444.73 | −0.007% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 444.61 | −0.034% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.67 | +1.329% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0424% | 1h | 445.22 | +0.103% | $502K | $170K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0741% | 1h | 444.63 | −0.029% | $4 | $23K | 10x | as long as short |
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
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