Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against SoDEX+0.204%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 pays, funding is against you. Phemex is 0.204% dearer against SoDEX than usual: you sell high and buy low (spread +0.204% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX TSM-USD | 440.35 | 0.0050 | pay 0.0006% / 1h | 3m 14s | $140 | $3K | 10x |
| Short | Phemex TSMUSDT | 441.25 | 0 | get 0.0000% / 8h | 3h 03m | $1.5M | $491K | 10x |
SoDEX TSM-USD
Phemex TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against SoDEX. 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
- −$10.5
- Price spread: +0.204% → 0.000%
- $20.44
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$10.06
- Costs to cover
- 0.200%
- Break-even
- from the start
Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 5 min ago. 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 0.79 bp | 32.7 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
SoDEX: 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 | −0.0602% | 4h | 440.50 | +0.033% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0222% | 8h | 441.13 | +0.177% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.89 | +0.123% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.89 | +0.123% | $2.0M | $395K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.07 | +0.164% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.87 | +0.118% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.47 | +0.028% | $546K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.12 | +0.175% | $1K | $4.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.67 | +0.073% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDTshort | 0.0000% | 8h | 441.25 | +0.204% | $1.5M | $491K | 10x |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.91 | +0.127% | $496K | $176K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.90 | +0.125% | $220K | $677K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.48 | +0.030% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.53 | +0.041% | $10.2M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.67 | +0.073% | $192K | $61K | 10x | as long as short |
| SoDEX TSM-USDlong | +0.0050% | 1h | 440.35 | long leg | $140 | $3K | 10x | |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.94 | −0.093% | $156K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0062% | 8h | 441.12 | +0.174% | $12.9M | $7.6M | 20x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 440.97 | +0.140% | $5K | $188K | 10x | as long as short |
| BloFin TSM-USDT | +0.0068% | 8h | 441.15 | +0.182% | $45K | $102K | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0068% | 8h | 440.59 | +0.055% | $10K | $1.3M | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0088% | 1h | 440.03 | −0.073% | $367K | $102K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.53 | +0.041% | $267K | $311K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.89 | +0.123% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.97 | +0.141% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 440.64 | +0.066% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 445.19 | +1.099% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0726% | 1h | 441.01 | +0.150% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
BloFin TSM-USDT
GRVT TSM_USDT_Perp
Coinbase International TSM-PERP-INTX
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL