Funding you earn now, next payment 01:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.09 per $10,000 · paid last 24h −0.030%
Price spread now: Aevo against Phoenix+0.030%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Aevo is 0.030% dearer against Phoenix than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 444.14 | 0.0179 | pay 0.0022% / 1h | 18m 34s | $216K | $5K | 10x |
| Short | Aevo TSM-PERP | 444.27 | 0.0104 | get 0.0013% / 1h | 18m 34s | $124 | — | 10x |
Phoenix TSM
Aevo TSM-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aevo against Phoenix. 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
- −$15.74
- Price spread: +0.030% → 0.000%
- $3.01
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aevo: 8 bp × 2 orders
- −$16
- Net
- −$35.73
- Costs to cover
- 0.230%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 43 min ago; Aevo: no order-book sample. Net counts fees only.
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 Phoenix live order book, 43 min ago | 2.68 bp | 9.4 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell Aevo no order-book sample | — | — | — | — | — |
Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
TSM on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 444.26 | +0.027% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 444.04 | −0.023% | $2.0M | $387K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.26 | +0.027% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 444.12 | −0.005% | $1.7M | $985K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 444.38 | +0.054% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 444.30 | +0.035% | $550K | $82K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.35 | +0.047% | $1K | $4.5M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.38 | +0.054% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.38 | +0.054% | $1.5M | $451K | 10x | as long as short |
| Extended TSM-USD | +0.0016% | 1h | 444.24 | +0.023% | $4K | $197K | 10x | as long as short |
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Extended TSM-USDShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | +0.0016% | 1h | 444.30 | +0.036% | $371K | $105K | 10x | as long as short |
| Binance TSMUSDT | +0.0018% | 8h | 444.36 | +0.049% | $13.1M | $6.8M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 444.30 | +0.036% | $229K | $637K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.90 | −0.054% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.85 | −0.065% | $10.2M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 444.11 | −0.007% | $197K | $48K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.82 | −0.072% | $138 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.75 | −0.088% | $160K | $24K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.95 | −0.043% | $270K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 444.24 | +0.023% | $21 | — | 10x | as long as short |
| Aevo TSM-PERPshort | +0.0104% | 1h | 444.27 | +0.030% | $124 | — | 10x | |
| GRVT TSM_USDT_Perp | +0.0137% | 8h | 444.44 | +0.068% | $7K | $1.1M | 10x | as long as short |
| Phoenix TSMlong | +0.0179% | 1h | 444.14 | long leg | $216K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.49 | +1.205% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0368% | 1h | 444.84 | +0.158% | $502K | $170K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0674% | 1h | 444.25 | +0.025% | $4 | $23K | 10x | as long as short |
| edgeX TSMUSDC | +0.0823% | 4h | 444.30 | +0.037% | $48K | $216K | 10x | as long as short |
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
Lighter RH TSM
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
GRVT TSM_USDT_Perp
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL
edgeX TSMUSDC