Funding you earn now, next payment 02:00 UTC−0.0217%/8h= −23.7% APRpaid last 24h −0.062%
Price spread now: SunX against Phoenix+0.029%69s7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$303as 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−$2752.747% of the position
Funding, last 7 days−0.280%−$28 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.029%, 7d avg +0.018%
=The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 69 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 | 443.04 | 0.0217 | pay 0.0027% / 1h | 1m 56s | $215K | $5K | 10x |
| Short | SunX TSM-USDT | 443.17 | 0 | get 0.0000% / 8h | 5h 01m | $2K | $4.3M | 10x |
Phoenix TSM
SunX TSM-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$45.49
- Price spread: +0.029% → +0.018%
- $1.17
- Slippage, 4 orders
- −$259.74
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$319.06
- Costs to cover
- 2.747%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 55 min ago; SunX: live order book, 6 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, 55 min ago | 3.83 bp | 12.2 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell SunX live order book, 6 min ago | 45.11 bp | 127.0 bp −$127 | doesn't fit | 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 | −0.0717% | 4h | 443.25 | +0.047% | $48K | $217K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 443.39 | +0.079% | $81K | $1K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 442.94 | −0.023% | $2.0M | $381K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 443.11 | +0.016% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 442.97 | −0.016% | $1.7M | $963K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.45 | +0.093% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.27 | +0.052% | $549K | $61K | — | as long as short |
| SunX TSM-USDTshort | 0.0000% | 8h | 443.17 | +0.029% | $2K | $4.3M | 10x | |
| HTX TSM-USDT | 0.0000% | 8h | 443.12 | +0.018% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 443.27 | +0.052% | $1.5M | $445K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin TSM-USDT | +0.0021% | 8h | 443.20 | +0.036% | $45K | $98K | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 443.40 | +0.081% | $500K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.05 | +0.002% | $221K | $645K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 442.72 | −0.072% | — | $583 | 25x | as long as short |
| Binance TSMUSDT | +0.0047% | 8h | 443.19 | +0.034% | $13.0M | $6.8M | 20x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 443.08 | +0.009% | $2K | $189K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 442.93 | −0.025% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 442.96 | −0.018% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 442.81 | −0.052% | $136 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 442.48 | −0.126% | $158K | $23K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0097% | 8h | 443.38 | +0.077% | $11K | $1.2M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 442.82 | −0.050% | $268K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 443.04 | 0.000% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 443.14 | +0.023% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.05 | +0.002% | $369K | $107K | 10x | as long as short |
| Phoenix TSMlong | +0.0217% | 1h | 443.04 | long leg | $215K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.46 | +1.223% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0676% | 1h | 443.08 | +0.009% | $4 | $24K | 10x | as long as short |
BloFin TSM-USDT
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Binance TSMUSDT
Extended TSM-USD
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL