Funding you earn now, next payment 07:00 UTC−0.0307%/8h= −33.6% APRnext payment −$0.38 per $10,000 · paid last 24h −0.041%
Price spread now: tradeXYZ against Phoenix−0.091%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days−0.200%−$20 on $10k
+Price spread, last 4 days (all we have)−0.286%−$29 · spread now −0.091%, 7d avg −0.077%
=Together, before fees−0.486%+ Points / potential airdroptradeXYZ: Active · farm board−$49 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.077%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.200% in total (about -10.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TSM | 439.97 | 0.0146 | pay 0.0018% / 1h | 59m 14s | $209K | $5K | 10x |
| Short | tradeXYZ xyz:TSM | 439.57 | −0.0161 | pay 0.0020% / 1h | 59m 14s | $10.1M | $1.8M | 10x |
Phoenix TSM
tradeXYZ xyz:TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$64.39
- Price spread: −0.091% → −0.077%
- −$1.44
- Slippage, 4 orders
- −$21.18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$112.01
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 33 min ago; tradeXYZ: live order book, 9 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, 33 min ago | 3.64 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 9 min ago | 0.68 bp | 11.4 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:TSMshort | −0.0161% | 1h | 439.57 | −0.091% | $10.1M | $1.8M | 10x | |
| Bitget TSMUSDT | −0.0008% | 8h | 439.58 | −0.089% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.63 | −0.077% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.79 | −0.041% | $2.0M | $396K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.47 | −0.114% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.76 | −0.048% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.87 | −0.024% | $553K | $43K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.51 | −0.105% | $2K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.91 | −0.014% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.07 | +0.023% | $1.5M | $521K | 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 TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 439.09 | −0.200% | $494K | $188K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 438.96 | −0.230% | $221K | $686K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0040% | 1h | 439.33 | −0.145% | $366K | $80K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.68 | −0.066% | — | $2K | 25x | as long as short |
| Binance TSMUSDT | +0.0048% | 8h | 439.48 | −0.111% | $12.8M | $8.0M | 20x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 439.46 | −0.117% | $3K | $219K | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.69 | −0.064% | $190K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.36 | −0.139% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.72 | −0.057% | $157K | $28K | 10x | as long as short |
| BloFin TSM-USDT | +0.0060% | 8h | 439.91 | −0.014% | $45K | $108K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0063% | 8h | 439.98 | +0.002% | $7K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.78 | −0.043% | $267K | $321K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.80 | −0.039% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.44 | −0.121% | $123 | — | 10x | as long as short |
| Phoenix TSMlong | +0.0146% | 1h | 439.97 | long leg | $209K | $5K | 10x | |
| Deribit TSM_USDC-PERPETUAL | +0.0182% | 1h | 439.70 | −0.061% | $4 | $25K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.54 | +1.039% | $6K | $38K | 12x | as long as short |
| edgeX TSMUSDC | +0.0963% | 4h | 440.02 | +0.011% | $47K | $217K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Coinbase International TSM-PERP-INTX
Vest TSM-USD-PERP
Binance TSMUSDT
Extended TSM-USD
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Deribit TSM_USDC-PERPETUAL
Injective TSM/USDC PERP
edgeX TSMUSDC