Funding you earn now, next payment 05:00 UTC+0.0540%/8h= +59.2% APRnext payment +$0.68 per $10,000 · paid last 24h +0.042%
Price spread now: Deribit against Phoenix−0.007%7-day average — · you buy dearer than you sell
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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$16 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 440.78 | 0.0163 | pay 0.0020% / 1h | 4m 21s | $214K | $5K | 10x |
| Short | Deribit TSM_USDC-PERPETUAL | 440.75 | 0.0704 | get 0.0088% / 1h | 4m 21s | $4 | $24K | 10x |
Phoenix TSM
Deribit TSM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $113.5
- Price spread: −0.007% → 0.000%
- −$0.68
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $98.82
- Costs to cover
- 0.140%
- Break-even
- 0.9 days
Slippage unknown: Phoenix: live order book, 38 min ago; Deribit: 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, 38 min ago | 2.95 bp | 10.4 bp −$10 | 21.3 bp −$213 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 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 | −0.0950% | 4h | 440.93 | +0.035% | $48K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0188% | 8h | 440.79 | +0.002% | $1.7M | $1.6M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.60 | −0.040% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.60 | −0.041% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.50 | −0.064% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.59 | −0.043% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.83 | +0.012% | $558K | $36K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.88 | +0.023% | $2K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.96 | +0.041% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.19 | +0.093% | $1.5M | $512K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.77 | −0.002% | $496K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.70 | −0.018% | $225K | $689K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.17 | −0.138% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.11 | −0.152% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.33 | −0.102% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.33 | −0.102% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.39 | −0.088% | $158K | $27K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0051% | 8h | 440.86 | +0.019% | $5K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0051% | 8h | 440.91 | +0.029% | $45K | $104K | 20x | as long as short |
| Binance TSMUSDT | +0.0055% | 8h | 440.76 | −0.005% | $12.9M | $7.8M | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 440.61 | −0.038% | $5K | $183K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 439.33 | −0.329% | $366K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.18 | −0.136% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.59 | −0.043% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.77 | −0.002% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0163% | 1h | 440.78 | long leg | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.65 | +0.878% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUALshort | +0.0704% | 1h | 440.75 | −0.007% | $4 | $24K | 10x |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
BloFin TSM-USDT
Binance TSMUSDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP