Funding you earn now, next payment 23:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.003%
Price spread now: Coinbase International against Bybit+0.002%7-day average −0.179% · you sell dearer than you buy
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$480.481% of the position
Funding, last 7 days−0.164%−$16 on $10k
+Price spread, last 3 days (all we have)−0.041%−$4 · spread now +0.002%, 7d avg −0.179%
=The price spread pays, funding is against you. Coinbase International is 0.182% dearer against Bybit than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.179%): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days. At the pace of the last 7 days (−0.164% in total) that is about 7.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TSMUSDT | 446.06 | 0 | get 0.0000% / 8h | 43m 02s | $2.0M | $416K | 50x |
| Short | Coinbase International TSM-PERP-INTX | 446.07 | −0.0024 | pay 0.0003% / 1h | 43m 02s | $357K | $97K | 10x |
Bybit TSMUSDT
Coinbase International TSM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bybit. 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
- −$5.04
- Price spread: +0.002% → −0.179%
- $18.17
- Slippage, 4 orders
- −$27.07
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$34.94
- Costs to cover
- 0.481%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 35 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 Bybit live order book, 4 min ago | 0.56 bp | 16.1 bp −$16 | 75.2 bp −$752 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 35 min ago | 4.49 bp | 9.5 bp −$9 | 13.8 bp −$138 | 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 | −0.0715% | 4h | 446.47 | +0.092% | $48K | $216K | 10x | as long as short |
| Coinbase International TSM-PERP-INTXshort | −0.0024% | 1h | 446.07 | +0.002% | $357K | $97K | 10x | |
| Aster TSMUSDT | 0.0000% | 8h | 446.29 | +0.053% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.42 | +0.081% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.50 | +0.099% | $13.2M | $6.8M | 20x | as long as short |
| Bybit TSMUSDTlong | 0.0000% | 8h | 446.06 | long leg | $2.0M | $416K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.45 | +0.087% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.07 | +0.002% | $1.7M | $907K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.47 | +0.092% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.41 | +0.078% | $553K | $84K | — | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 446.49 | +0.096% | $7K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.51 | +0.101% | $2K | $5.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.27 | +0.047% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.00 | −0.238% | $1.5M | $456K | 10x | as long as short |
| BloFin TSM-USDT | +0.0002% | 8h | 446.49 | +0.096% | $44K | $102K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.50 | +0.099% | $231K | $585K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.20 | +0.031% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.09 | +0.007% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.22 | +0.036% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.08 | +0.004% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.13 | +0.016% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.99 | −0.016% | $270K | $323K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.40 | +0.076% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.48 | +0.093% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.33 | +0.061% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 450.72 | +1.045% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0336% | 1h | 446.93 | +0.195% | $504K | $166K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0378% | 1h | 446.37 | +0.069% | $4 | $61K | 10x | as long as short |
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
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
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM
Deribit TSM_USDC-PERPETUAL