Funding you earn now, next payment 08:00 UTC−0.0342%/8h= −37.4% APRnext payment −$3.42 per $10,000 · paid last 24h −0.166%
Price spread now: Bybit against OKX−0.047%7-day average −0.158% · you buy dearer than you sell
Net, funding: paid 7d − costs−$379as in the Funding arb table
Net, price: spread back to 7d avg − costs−$327as in the Price arb table
costs, in and out, $10k−$3383.384% of the position
Funding, last 7 days−0.402%−$40 on $10k
+Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.047%, 7d avg −0.158%
=The price spread pays, funding is against you. Bybit is 0.111% dearer against OKX than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.158%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 26 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX TSEM-USDT-SWAP | 235.33 | 0 | get 0.0000% / 8h | 4h 43m | $48K | $151K | 10x |
| Short | Bybit TSEMUSDT | 235.22 | −0.0342 | pay 0.0342% / 8h | 4h 43m | $137K | $2.6M | 25x |
OKX TSEM-USDT-SWAP
Bybit TSEMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against OKX. 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
- −$71.72
- Price spread: −0.047% → −0.158%
- $11.13
- Slippage, 4 orders
- −$317.42
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$399.01
- Costs to cover
- 3.384%
- Break-even
- never at this rate
Slippage from OKX: live order book, 11 min ago; Bybit: live order book, 3 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 OKX live order book, 11 min ago | 12.53 bp | 100.7 bp −$101 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 2.77 bp | 74.2 bp −$74 | 184.2 bp −$1,842 | 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 | −0.0342% | 8h | 235.22 | −0.047% | $137K | $2.6M | 25x | |
| OKX TSEM-USDT-SWAPlong | 0.0000% | 8h | 235.33 | long leg | $48K | $151K | 10x | |
| Gate TSEM_USDT | 0.0000% | 8h | 234.60 | −0.310% | $163K | $260K | 20x | as long as short |
| Bitget TSEMUSDT | 0.0000% | 8h | 235.22 | −0.047% | $116K | $99K | 20x | as long as short |
| HTX TSEM-USDT | 0.0000% | 8h | 234.79 | −0.229% | $7K | $40K | 10x | as long as short |
| Vest TSEM-USD-PERP | +0.0046% | 1h | 237.09 | +0.748% | — | — | 5x | as long as short |
Gate TSEM_USDT
Bitget TSEMUSDT
HTX TSEM-USDT
Vest TSEM-USD-PERP