Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: KuCoin against Phemex−0.347%7-day average −0.094% · you buy dearer than you sell
Net, funding: paid 7d − costs−$261as in the Funding arb table
Net, price: spread back to 7d avg − costs−$308as in the Price arb table
costs, in and out, $10k−$2822.824% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 4 days (all we have)+0.325%+$33 · spread now −0.347%, 7d avg −0.094%
=Funding pays, the price is against you. KuCoin is 0.253% cheaper against Phemex than usual: you would sell low and buy high (spread −0.347% now, against its 7-day average of −0.094%). If the spread goes back, that is −$25 on $10k: about 8.4 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 440.74 | 0 | get 0.0000% / 8h | 32m 12s | $1.5M | $529K | 10x |
| Short | KuCoin TSMUSDTM | 439.21 | 0.0100 | get 0.0100% / 8h | 32m 12s | $267K | $309K | 20x |
Phemex TSMUSDT
KuCoin TSMUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: −0.347% → −0.094%
- −$25.32
- Slippage, 4 orders
- −$258.4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$286.71
- Costs to cover
- 2.824%
- Break-even
- 102.6 days
Slippage from Phemex: live order book, 1 min ago; KuCoin: live order book, 70 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, 1 min ago | 1.36 bp | 27.4 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 70 min ago | 14.01 bp | 49.3 bp −$49 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0138% | 8h | 439.68 | −0.241% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 441.22 | +0.110% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.26 | −0.336% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.70 | −0.236% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.45 | −0.293% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.61 | −0.255% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.69 | −0.238% | $2K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.38 | −0.309% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 440.74 | long leg | $1.5M | $529K | 10x | |
| Lighter TSM | +0.0032% | 1h | 439.61 | −0.256% | $496K | $188K | 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
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 | 439.32 | −0.322% | $221K | $720K | 10x | as long as short |
| BloFin TSM-USDT | +0.0033% | 8h | 439.70 | −0.236% | $45K | $107K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.27 | −0.334% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.13 | −0.365% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.39 | −0.306% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.13 | −0.365% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.07 | −0.379% | $158K | $27K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.320% | $366K | $97K | 10x | as long as short |
| Binance TSMUSDT | +0.0063% | 8h | 439.71 | −0.233% | $12.8M | $8.0M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 439.60 | −0.259% | $8K | $216K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0074% | 8h | 439.52 | −0.276% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTMshort | +0.0100% | 8h | 439.21 | −0.347% | $267K | $309K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.54 | −0.272% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.59 | −0.261% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.38 | −0.309% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.744% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0571% | 4h | 439.70 | −0.237% | $47K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0912% | 1h | 439.56 | −0.268% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL