Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit+0.007%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.007%, 7d avg −0.021%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.027% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSMUSDT	439.05	0	get 0.0000% / 8h	1h 34m	$2.0M	$398K	50x
Short	Gate TSM_USDT	439.08	0	get 0.0000% / 8h	1h 34m	$1.7M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee GatebpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → −0.021%: $2.73
Slippage, 4 orders: −$36.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.01
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: 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 Bybit live order book, 2 min ago	1.93 bp	12.5 bp −$12	63.3 bp −$633	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.69 bp	17.6 bp −$18	34.3 bp −$343	49.1 bp −$4,915	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	−0.0859%	4h	439.77	+0.163%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0214%	8h	439.50	+0.102%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	439.01	−0.008%	$81K	$2K	20x	as long as short
Bybit TSMUSDTlong	0.0000%	8h	439.05	long leg	$2.0M	$398K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	439.18	+0.030%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDTshort	0.0000%	8h	439.08	+0.007%	$1.7M	$1.1M	100x
Variational Omni TSM	0.0000%	8h	439.75	+0.159%	$556K	$36K	—	as long as short
SunX TSM-USDT	0.0000%	8h	439.27	+0.050%	$1K	$4.1M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	439.64	+0.134%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.35	+0.296%	$1.5M	$515K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	439.21	+0.036%	$495K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	439.04	−0.002%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	438.81	−0.055%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	+0.064%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	438.65	−0.091%	$10.2M	$1.8M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.05	0.000%	$191K	$65K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	438.94	−0.025%	$134	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	439.33	+0.064%	$157K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0064%	8h	439.32	+0.061%	$45K	$105K	20x	as long as short
Binance TSMUSDT	+0.0068%	8h	439.24	+0.043%	$12.8M	$7.8M	20x	as long as short
Extended TSM-USD	+0.0072%	1h	439.14	+0.020%	$3K	$176K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0076%	8h	439.79	+0.169%	$4K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	438.71	−0.077%	$266K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.16	+0.025%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.22	+0.039%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.53	+0.109%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.69	+1.285%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0913%	1h	439.17	+0.027%	$4	$25K	10x	as long as short