Funding you earn now, next payment 08:00 UTC−0.0115%/8h= −12.6% APRnext payment −$1.15 per $10,000 · paid last 24h −0.290%
Price spread now: Bybit against Gate+0.089%7-day average −0.101% · you sell dearer than you buy
Net, funding: paid 7d − costs−$375as in the Funding arb table
Net, price: spread back to 7d avg − costs−$304as in the Price arb table
costs, in and out, $10k−$3233.227% of the position
Funding, last 7 days−0.526%−$53 on $10k
+Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.089%, 7d avg −0.101%
=The price spread pays, funding is against you. Bybit is 0.190% dearer against Gate than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of −0.101%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.5 days. At the pace of the last 7 days (−0.526% in total) that is about 2.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate TSEM_USDT | 235.18 | 0 | get 0.0000% / 8h | 7h 15m | $167K | $304K | 20x |
| Short | Bybit TSEMUSDT | 235.39 | −0.0115 | pay 0.0115% / 8h | 7h 15m | $149K | $3.7M | 25x |
Gate TSEM_USDT
Bybit TSEMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- −$24.16
- Price spread: +0.089% → −0.101%
- $19.02
- Slippage, 4 orders
- −$296.75
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$327.89
- Costs to cover
- 3.227%
- Break-even
- never at this rate
Slippage from Gate: live order book, 55 min ago; Bybit: live order book, 2 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 Gate live order book, 55 min ago | 12.17 bp | 84.8 bp −$85 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.46 bp | 78.2 bp −$78 | 166.5 bp −$1,665 | doesn't fit | doesn't fit |
TSEM on 6 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit TSEMUSDTshort | −0.0115% | 8h | 235.39 | +0.089% | $149K | $3.7M | 25x | |
| OKX TSEM-USDT-SWAP | 0.0000% | 8h | 235.41 | +0.098% | $48K | $160K | 10x | as long as short |
| Gate TSEM_USDTlong | 0.0000% | 8h | 235.18 | long leg | $167K | $304K | 20x | |
| Bitget TSEMUSDT | 0.0000% | 8h | 235.28 | +0.043% | $117K | $113K | 20x | as long as short |
| HTX TSEM-USDT | 0.0000% | 8h | 235.29 | +0.047% | $7K | $40K | 10x | as long as short |
| Vest TSEM-USD-PERP | +0.0046% | 1h | 236.00 | +0.349% | — | — | 5x | as long as short |
OKX TSEM-USDT-SWAP
Bitget TSEMUSDT
HTX TSEM-USDT
Vest TSEM-USD-PERP