Funding you earn now, next payment 08:00 UTC+0.0095%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.040%
Price spread now: Phoenix against SoDEX+0.075%70s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.075% dearer against SoDEX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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 | SoDEX TSM-USD | 439.53 | 0.0050 | pay 0.0006% / 1h | 56m 17s | $134 | $3K | 10x |
| Short | Phoenix TSM | 439.86 | 0.0145 | get 0.0018% / 1h | 56m 17s | $209K | $10K | 10x |
SoDEX TSM-USD
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $20.05
- Price spread: +0.075% → 0.000%
- $7.51
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $12.56
- Costs to cover
- 0.150%
- Break-even
- 2.6 days
Slippage unknown: SoDEX: no order-book sample; Phoenix: live order book, 31 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 Phoenix live order book, 31 min ago | 3.88 bp | 12.2 bp −$12 | 26.0 bp −$260 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0016% | 1h | 439.24 | −0.066% | $371K | $98K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.89 | +0.081% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.71 | +0.041% | $2.0M | $401K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.11 | +0.132% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.81 | +0.064% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 440.03 | +0.114% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.05 | +0.119% | $551K | $44K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.09 | +0.127% | $1K | $3.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.08 | +0.125% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 439.61 | +0.018% | $1.5M | $542K | 10x | as long as short |
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Binance TSMUSDT | +0.0032% | 8h | 440.08 | +0.125% | $12.9M | $8.3M | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.82 | +0.066% | $495K | $143K | 10x | as long as short |
| Extended TSM-USD | +0.0032% | 1h | 439.95 | +0.096% | $1K | $214K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.55 | +0.005% | — | $2K | 25x | as long as short |
| BloFin TSM-USDT | +0.0049% | 8h | 440.17 | +0.146% | $45K | $111K | 20x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.48 | −0.011% | $10.1M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.68 | +0.034% | $190K | $67K | 10x | as long as short |
| SoDEX TSM-USDlong | +0.0050% | 1h | 439.53 | long leg | $134 | $3K | 10x | |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.93 | +0.091% | $158K | $27K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.55 | +0.005% | $267K | $374K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.93 | +0.091% | $21 | — | 10x | as long as short |
| Lighter RH TSM | +0.0104% | 1h | 439.85 | +0.073% | $196K | $724K | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.95 | +0.095% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0145% | 1h | 439.86 | +0.075% | $209K | $10K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +1.006% | $6K | $38K | 12x | as long as short |
| GRVT TSM_USDT_Perp | +0.0238% | 8h | 439.96 | +0.098% | $12K | $1.3M | 10x | as long as short |
| edgeX TSMUSDC | +0.0568% | 4h | 440.17 | +0.146% | $47K | $215K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.1002% | 1h | 439.97 | +0.100% | $4 | $13K | 10x | as long as short |
Binance TSMUSDT
Lighter TSM
Extended TSM-USD
Vest TSM-USD-PERP
BloFin TSM-USDT
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Lighter RH TSM
Aevo TSM-PERP
Injective TSM/USDC PERP
GRVT TSM_USDT_Perp
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL