Funding you earn now, next payment 05:00 UTC+0.0163%/8h= +17.9% APRpaid last 24h +0.059%
Price spread now: Phoenix against SunX−0.025%69s7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$243as 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−$2722.717% of the position
Funding, last 7 days+0.282%+$28 on $10k
+Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.025%, 7d avg −0.016%
=The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$5 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 | SunX TSM-USDT | 440.89 | 0 | get 0.0000% / 8h | 2h 06m | $2K | $4.2M | 10x |
| Short | Phoenix TSM | 440.78 | 0.0163 | get 0.0020% / 1h | 6m 25s | $214K | $5K | 10x |
SunX TSM-USDT
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against SunX. 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
- $34.31
- Price spread: −0.025% → −0.016%
- −$0.85
- Slippage, 4 orders
- −$256.69
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$238.23
- Costs to cover
- 2.717%
- Break-even
- 55.6 days
Slippage from SunX: live order book, 12 min ago; Phoenix: live order book, 36 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 SunX live order book, 12 min ago | 45.08 bp | 123.4 bp −$123 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 36 min ago | 2.95 bp | 10.4 bp −$10 | 21.4 bp −$214 | 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 | −0.0617% | 4h | 440.90 | +0.002% | $48K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0198% | 8h | 440.91 | +0.005% | $1.7M | $1.6M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 440.71 | −0.041% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 440.67 | −0.050% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.68 | −0.048% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 440.68 | −0.048% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.87 | −0.005% | $553K | $30K | — | as long as short |
| SunX TSM-USDTlong | 0.0000% | 8h | 440.89 | long leg | $2K | $4.2M | 10x | |
| HTX TSM-USDT | 0.0000% | 8h | 440.90 | +0.002% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.32 | +0.098% | $1.5M | $512K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 440.83 | −0.014% | $496K | $138K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.78 | −0.025% | $225K | $689K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.27 | −0.141% | — | $1K | 25x | as long as short |
| GRVT TSM_USDT_Perp | +0.0046% | 8h | 440.88 | −0.002% | $5K | $1.3M | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 440.38 | −0.116% | $10.2M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 440.59 | −0.068% | $192K | $63K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 440.31 | −0.132% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 440.39 | −0.113% | $158K | $27K | 10x | as long as short |
| Binance TSMUSDT | +0.0055% | 8h | 440.86 | −0.007% | $12.9M | $7.8M | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 440.74 | −0.035% | $5K | $183K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0072% | 1h | 439.33 | −0.354% | $366K | $102K | 10x | as long as short |
| BloFin TSM-USDT | +0.0077% | 8h | 441.06 | +0.039% | $45K | $104K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 440.37 | −0.118% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.80 | −0.020% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.83 | −0.014% | $123 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0163% | 1h | 440.78 | −0.025% | $214K | $5K | 10x | |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.65 | +0.853% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0749% | 1h | 440.84 | −0.011% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
GRVT TSM_USDT_Perp
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL