Funding you earn now, next payment 19:00 UTC+0.0116%/8hnext payment +$0.15 per $10,000 · paid last 24h +0.039%
Price spread now: Phoenix against Vest+0.038%58s7-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
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.038% dearer against Vest than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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 | Vest TSM-USD-PERP | 445.27 | 0.0046 | pay 0.0006% / 1h | 22m 12s | — | — | 25x |
| Short | Phoenix TSM | 445.44 | 0.0162 | get 0.0020% / 1h | 22m 12s | $217K | $5K | 10x |
Vest TSM-USD-PERP
Phoenix TSMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Vest. 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
- $24.45
- Price spread: +0.038% → 0.000%
- $3.82
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $19.27
- Costs to cover
- 0.090%
- Break-even
- 1.5 days
Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 6 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 6 min ago | 2.47 bp | 9.0 bp −$9 | 17.7 bp −$177 | doesn't fit | doesn't fit |
Vest: 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 | −0.0242% | 4h | 445.51 | +0.054% | $48K | $215K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0040% | 1h | 444.71 | −0.126% | $358K | $89K | 10x | as long as short |
| BloFin TSM-USDT | −0.0011% | 8h | 445.35 | +0.018% | $45K | $100K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 445.35 | +0.017% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.45 | +0.040% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.40 | +0.029% | $13.1M | $6.5M | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 445.17 | −0.022% | $2.0M | $378K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.39 | +0.027% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.26 | −0.002% | $1.7M | $884K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.48 | +0.047% | $557K | $81K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.49 | +0.050% | $10K | $895K | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.49 | +0.049% | $1K | $5.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 445.19 | −0.018% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.89 | −0.085% | $1.5M | $439K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 445.51 | +0.054% | $206K | $671K | 10x | as long as short |
| Vest TSM-USD-PERPlong | +0.0046% | 1h | 445.27 | long leg | — | — | 25x | |
| Bitget TSMUSDT | +0.0048% | 8h | 445.14 | −0.029% | $1.6M | $1.5M | 20x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.09 | −0.040% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.22 | −0.011% | $188K | $82K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.08 | −0.043% | $151 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 444.96 | −0.070% | $158K | $18K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.14 | −0.029% | $273K | $319K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.49 | +0.049% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.48 | +0.048% | $125 | — | 10x | as long as short |
| Phoenix TSMshort | +0.0162% | 1h | 445.44 | +0.038% | $217K | $5K | 10x | |
| Lighter TSM | +0.0216% | 1h | 445.97 | +0.157% | $504K | $154K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.01 | +1.065% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0401% | 1h | 445.50 | +0.052% | $4 | $61K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter RH TSM
Bitget TSMUSDT
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Lighter TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL