Funding you earn now, next payment 08:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.055%
Price spread now: Gate against Phoenix+0.194%7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$600.600% of the position
Funding, last 7 days−0.281%−$28 on $10k
+Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.194%, 7d avg −0.040%
=The price spread pays, funding is against you. Gate is 0.234% dearer against Phoenix than usual: you sell high and buy low (spread +0.194% now, against its 7-day average of −0.040%): +$23 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 437.81 | 0.0145 | pay 0.0018% / 1h | 19m 06s | $208K | $10K | 10x |
| Short | Gate TSM_USDT | 438.66 | 0 | get 0.0000% / 8h | 7h 19m | $1.7M | $1.1M | 100x |
Phoenix TSM
Gate TSM_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$30.55
- Price spread: +0.194% → −0.040%
- $23.39
- Slippage, 4 orders
- −$38.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$67.17
- Costs to cover
- 0.600%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 8 min ago; Gate: live order book, 3 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, 8 min ago | 3.88 bp | 12.2 bp −$12 | 25.9 bp −$259 | doesn't fit | doesn't fit |
| Sell Gate live order book, 3 min ago | 5.93 bp | 17.9 bp −$18 | 41.2 bp −$412 | 55.6 bp −$5,561 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 438.68 | +0.199% | $81K | $2K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 438.69 | +0.201% | $3K | $215K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 438.83 | +0.233% | $12.8M | $8.2M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 438.41 | +0.137% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 438.81 | +0.228% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDTshort | 0.0000% | 8h | 438.66 | +0.194% | $1.7M | $1.1M | 100x | |
| Bitget TSMUSDT | 0.0000% | 8h | 438.89 | +0.247% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 438.35 | +0.124% | $549K | $45K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 438.21 | +0.092% | $13K | $1.3M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 438.93 | +0.256% | $2K | $4.0M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 438.85 | +0.238% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 438.32 | +0.116% | $1.5M | $538K | 10x | as long as short |
| BloFin TSM-USDT | +0.0012% | 8h | 438.96 | +0.263% | $45K | $110K | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 438.55 | +0.169% | $494K | $190K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 438.59 | +0.178% | $202K | $746K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0040% | 1h | 437.71 | −0.023% | $370K | $94K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 438.46 | +0.148% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 438.27 | +0.105% | $10.0M | $1.9M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 438.56 | +0.171% | $189K | $67K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 438.36 | +0.126% | $139 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 437.79 | −0.005% | $157K | $28K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 438.18 | +0.085% | $266K | $351K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 438.66 | +0.194% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 438.70 | +0.204% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0145% | 1h | 437.81 | long leg | $208K | $10K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +1.402% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0534% | 4h | 438.31 | +0.114% | $47K | $216K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0640% | 1h | 438.63 | +0.187% | $4 | $13K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Lighter TSM
Lighter RH TSM
Coinbase International TSM-PERP-INTX
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
Injective TSM/USDC PERP
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL