Funding you earn now, next payment 06:00 UTC+0.0080%/8h= +8.7% APRpaid last 24h −0.027%
Price spread now: edgeX against Phoenix+0.040%115s7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 4 days (all we have)−0.065%−$7 · spread now +0.040%, 7d avg +0.014%
=Together, before fees−0.418%+ Points / potential airdropedgeX: Active · farm board−$42 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.026% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.353%, so the current rate has only just turned in your favour. The two prices were read 115 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 439.47 | 0.0164 | pay 0.0020% / 1h | 43m 42s | $214K | $5K | 10x |
| Short | edgeX TSMUSDC | 439.65 | 0.0243 | get 0.0122% / 4h | 1h 43m | $47K | $217K | 10x |
Phoenix TSM
edgeX TSMUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $16.73
- Price spread: +0.040% → +0.014%
- $2.64
- Slippage, 4 orders
- −$25.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$21.87
- Costs to cover
- 0.412%
- Break-even
- 16.1 days
Slippage from Phoenix: live order book, 58 min ago; edgeX: live order book, 63 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 Phoenix live order book, 58 min ago | 2.95 bp | 10.4 bp −$10 | 21.3 bp −$213 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 63 min ago | 5.55 bp | 10.2 bp −$10 | 12.8 bp −$128 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget TSMUSDT | −0.0203% | 8h | 439.69 | +0.050% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.66 | +0.043% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.47 | 0.000% | $2.0M | $396K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.63 | +0.036% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.48 | +0.002% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.56 | +0.020% | $557K | $36K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.70 | +0.052% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.68 | +0.048% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.76 | +0.294% | $1.5M | $514K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.67 | +0.046% | $495K | $137K | 10x | as long as short |
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 439.53 | +0.014% | $224K | $684K | 10x | as long as short |
| BloFin TSM-USDT | +0.0043% | 8h | 439.68 | +0.048% | $45K | $105K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.29 | −0.041% | — | $1K | 25x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0048% | 1h | 439.33 | −0.032% | $366K | $102K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.21 | −0.059% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.42 | −0.011% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.19 | −0.064% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.12 | −0.080% | $157K | $27K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 439.61 | +0.033% | $5K | $179K | 10x | as long as short |
| Binance TSMUSDT | +0.0068% | 8h | 439.71 | +0.055% | $12.9M | $7.8M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0072% | 8h | 439.77 | +0.068% | $4K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.35 | −0.027% | $266K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.63 | +0.036% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.48 | +0.002% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0164% | 1h | 439.47 | long leg | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.69 | +1.188% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDCshort | +0.0243% | 4h | 439.65 | +0.040% | $47K | $217K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0661% | 1h | 439.56 | +0.020% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
Coinbase International TSM-PERP-INTX
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL