Funding you earn now, next payment 04:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.061%
Price spread now: Phoenix against Phemex−0.093%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$870.866% of the position
Funding, last 7 days+0.281%+$28 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.093%, 7d avg −0.031%
=Funding pays, the price is against you. Phoenix is 0.062% cheaper against Phemex than usual: you would sell low and buy high (spread −0.093% now, against its 7-day average of −0.031%). If the spread goes back, that is −$6 on $10k: about 25 hours of funding at the current rate (+$6 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TSMUSDT | 440.68 | 0 | get 0.0000% / 8h | 3h 06m | $1.5M | $488K | 10x |
| Short | Phoenix TSM | 440.27 | 0.0199 | get 0.0025% / 1h | 6m 42s | $214K | $5K | 10x |
Phemex TSMUSDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $41.86
- Price spread: −0.093% → −0.031%
- −$6.19
- Slippage, 4 orders
- −$67.56
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$50.89
- Costs to cover
- 0.866%
- Break-even
- 15.5 days
Slippage from Phemex: live order book, 1 min ago; Phoenix: live order book, 40 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 | 0.79 bp | 35.0 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 2.49 bp | 9.4 bp −$9 | 18.9 bp −$189 | 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 | −0.0980% | 4h | 440.31 | −0.085% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0222% | 8h | 440.47 | −0.048% | $1.8M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.54 | −0.033% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.25 | −0.098% | $2.0M | $389K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.49 | −0.043% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.33 | −0.079% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.48 | −0.046% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.34 | −0.077% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.28 | −0.091% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTlong | 0.0000% | 8h | 440.68 | long leg | $1.5M | $488K | 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 TSM | +0.0032% | 1h | 440.33 | −0.079% | $496K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.47 | −0.048% | $219K | $677K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.03 | −0.147% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.09 | −0.134% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.10 | −0.132% | $192K | $60K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.95 | −0.166% | $140 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.11 | −0.129% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0063% | 8h | 440.49 | −0.042% | $12.9M | $7.5M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.36 | −0.073% | $5K | $188K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0071% | 8h | 440.39 | −0.067% | $10K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0084% | 8h | 440.38 | −0.068% | $45K | $101K | 20x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.147% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.11 | −0.129% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.29 | −0.088% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.28 | −0.090% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0199% | 1h | 440.27 | −0.093% | $214K | $5K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0205% | 1h | 440.23 | −0.102% | $4 | $24K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.023% | $6K | $38K | 12x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
GRVT TSM_USDT_Perp
BloFin TSM-USDT
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP