Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.047%
Price spread now: Lighter against Phemex−0.277%7-day average +0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$161as in the Price arb table
costs, in and out, $10k−$1271.271% of the position
Funding, last 7 days+0.391%+$39 on $10k
+Price spread, last 4 days (all we have)+0.304%+$30 · spread now −0.277%, 7d avg +0.064%
=Together, before fees+0.695%+ Points / potential airdropLighter: Season 3 · farm board+$69 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.341% cheaper against Phemex than usual: you would sell low and buy high (spread −0.277% now, against its 7-day average of +0.064%). If the spread goes back, that is −$34 on $10k: about 36 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.391% in total) that is about 6.1 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 440.61 | 0 | get 0.0000% / 8h | 47m 30s | $1.5M | $528K | 10x |
| Short | Lighter TSM | 439.39 | 0.0032 | get 0.0004% / 1h | 47m 30s | $495K | $186K | 10x |
Phemex TSMUSDT
Lighter TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $6.72
- Price spread: −0.277% → +0.064%
- −$34.12
- Slippage, 4 orders
- −$115.07
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$154.48
- Costs to cover
- 1.271%
- Break-even
- 167.9 days
Slippage from Phemex: live order book, just now; Lighter: live order book, 47 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, just now | 0.68 bp | 28.2 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 47 min ago | 16.60 bp | 24.6 bp −$25 | 29.1 bp −$291 | 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 | −0.0513% | 4h | 439.41 | −0.272% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0166% | 8h | 439.54 | −0.243% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.32 | −0.292% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.16 | −0.329% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.54 | −0.243% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.30 | −0.297% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.35 | −0.286% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.58 | −0.234% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.36 | −0.284% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 440.61 | long leg | $1.5M | $528K | 10x |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSMshort | +0.0032% | 1h | 439.39 | −0.277% | $495K | $186K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 439.13 | −0.336% | $221K | $720K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.04 | −0.356% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 438.99 | −0.368% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.17 | −0.327% | $189K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 438.95 | −0.377% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.66 | −0.443% | $158K | $27K | 10x | as long as short |
| BloFin TSM-USDT | +0.0053% | 8h | 439.36 | −0.284% | $45K | $106K | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.39 | −0.276% | $1K | $156K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | −0.291% | $366K | $99K | 10x | as long as short |
| Binance TSMUSDT | +0.0057% | 8h | 439.53 | −0.245% | $12.8M | $8.0M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0063% | 8h | 439.22 | −0.316% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.11 | −0.340% | $266K | $309K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.45 | −0.263% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.41 | −0.272% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.12 | −0.338% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +0.774% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0456% | 1h | 439.38 | −0.279% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL