Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.024%
Price spread now: Lighter RH against Phemex−0.134%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$690.689% of the position
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 3 days (all we have)+0.183%+$18 · spread now −0.134%, 7d avg +0.020%
=Together, before fees+0.276%+ Points / potential airdropLighter RH: Points live · farm board+$28 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.155% cheaper against Phemex than usual: you would sell low and buy high (spread −0.134% now, against its 7-day average of +0.020%). If the spread goes back, that is −$15 on $10k: about 16 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 446.63 | 0 | get 0.0000% / 8h | 6h 57m | $1.5M | $454K | 10x |
| Short | Lighter RH TSM | 446.03 | 0.0032 | get 0.0004% / 1h | 57m 34s | $223K | $630K | 10x |
Phemex TSMUSDT
Lighter RH TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: −0.134% → +0.020%
- −$15.48
- Slippage, 4 orders
- −$56.92
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$77.68
- Costs to cover
- 0.689%
- Break-even
- 87.9 days
Slippage from Phemex: live order book, just now; Lighter RH: live order book, 10 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 | 3.25 bp | 34.0 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 10 min ago | 2.35 bp | 2.6 bp −$3 | 8.7 bp −$87 | 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 | −0.0864% | 4h | 447.03 | +0.090% | $48K | $215K | 10x | as long as short |
| BloFin TSM-USDT | 0.0000% | 8h | 446.90 | +0.060% | $44K | $100K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.29 | −0.075% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.03 | −0.134% | $5K | $201K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.19 | −0.098% | $13.1M | $7.0M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.90 | −0.163% | $2.0M | $403K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.15 | −0.107% | $4.0M | $2.9M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.96 | −0.150% | $1.7M | $897K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.21 | −0.094% | $1.6M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.08 | +0.100% | $554K | $82K | — | as long as short |
edgeX TSMUSDC
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 446.34 | −0.065% | $1K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.88 | +0.056% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 446.63 | long leg | $1.5M | $454K | 10x | |
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 446.43 | −0.045% | $358K | $98K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0031% | 8h | 446.82 | +0.042% | $5K | $1.1M | 10x | as long as short |
| Lighter RH TSMshort | +0.0032% | 1h | 446.03 | −0.134% | $223K | $630K | 10x | |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.00 | −0.141% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.91 | −0.161% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.93 | −0.157% | $199K | $44K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.31 | −0.072% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.37 | −0.058% | $158K | $23K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.99 | −0.143% | $270K | $315K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.55 | −0.018% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.36 | −0.060% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 446.21 | −0.094% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.67 | +1.128% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0468% | 1h | 446.23 | −0.090% | $98 | $32K | 10x | as long as short |
| Lighter TSM | +0.0648% | 1h | 446.72 | +0.020% | $504K | $168K | 10x | as long as short |
SunX TSM-USDT
HTX TSM-USDT
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL
Lighter TSM