Funding you earn now, next payment 00:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.059%
Price spread now: Injective against Bybit+1.051%98s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 1.051% dearer against Bybit than usual: you sell high and buy low: +$105 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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 | Bybit TSMUSDT | 446.03 | 0 | get 0.0000% / 8h | 47m 38s | $2.0M | $417K | 50x |
| Short | Injective TSM/USDC PERP | 450.72 | 0.0220 | get 0.0028% / 1h | 47m 38s | $7K | $38K | 12x |
Bybit TSMUSDT
Injective TSM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $46.2
- Price spread: +1.051% → 0.000%
- $105.15
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $140.33
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 4 min ago; Injective: no order-book sample. 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 Bybit live order book, 4 min ago | 0.90 bp | 17.4 bp −$17 | 76.8 bp −$768 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | −0.0115% | 4h | 446.41 | +0.085% | $48K | $215K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.07 | +0.009% | $357K | $97K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 446.25 | +0.050% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 446.33 | +0.068% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 446.44 | +0.091% | $13.2M | $6.8M | 20x | as long as short |
| Bybit TSMUSDTlong | 0.0000% | 8h | 446.03 | long leg | $2.0M | $417K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 446.48 | +0.101% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.02 | −0.002% | $1.7M | $906K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 446.29 | +0.058% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 446.41 | +0.085% | $553K | $84K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
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 | 446.25 | +0.049% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 446.42 | +0.087% | $2K | $5.2M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 446.25 | +0.049% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.02 | −0.226% | $1.5M | $457K | 10x | as long as short |
| BloFin TSM-USDT | +0.0029% | 8h | 446.43 | +0.090% | $44K | $102K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.40 | +0.083% | $231K | $585K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 446.01 | −0.004% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 446.00 | −0.007% | $10.3M | $2.5M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 446.18 | +0.034% | $196K | $90K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.98 | −0.011% | $145 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 446.13 | +0.022% | $159K | $22K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.93 | −0.022% | $271K | $323K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 446.30 | +0.061% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 446.39 | +0.080% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0215% | 1h | 446.19 | +0.036% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERPshort | +0.0220% | 1h | 450.72 | +1.051% | $7K | $38K | 12x | |
| Lighter TSM | +0.0352% | 1h | 446.91 | +0.197% | $504K | $166K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0423% | 1h | 446.34 | +0.070% | $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
Lighter TSM
Deribit TSM_USDC-PERPETUAL