TSM

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.023%

Price spread now: KuCoin against Bybit−0.018%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$216as in the Price arb table

costs, in and out, $10k−$2182.184% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.203%+$20 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.018%, 7d avg −0.042%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.024% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSMUSDT	445.07	0	get 0.0000% / 8h	1h 49m	$2.0M	$420K	50x
Short	KuCoin TSMUSDTM	444.99	0.0100	get 0.0100% / 8h	1h 49m	$269K	$340K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.018%Rate

Funding earned: $21
Price spread: −0.018% → −0.042%: $2.36
Slippage, 4 orders: −$195.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$195
Costs to cover: 2.184%
Break-even: 72.0 days

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 22 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	2.13 bp	13.7 bp −$14	55.2 bp −$552	doesn't fit	doesn't fit
Sell KuCoin live order book, 22 min ago	16.30 bp	65.7 bp −$66	doesn't fit	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
BloFin TSM-USDT	−0.0017%	8h	445.46	+0.088%	$44K	$104K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	445.19	+0.028%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	445.32	+0.057%	$2K	$167K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	445.39	+0.072%	$13.1M	$6.9M	20x	as long as short
Bybit TSMUSDTlong	0.0000%	8h	445.07	long leg	$2.0M	$420K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	445.34	+0.061%	$4.0M	$3.1M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	445.16	+0.020%	$1.7M	$919K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	445.33	+0.058%	$1.6M	$1.5M	20x	as long as short
Variational Omni TSM	0.0000%	8h	445.30	+0.052%	$551K	$85K	—	as long as short
GRVT TSM_USDT_Perp	0.0000%	8h	445.35	+0.064%	$7K	$1.1M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TSM-USDT	0.0000%	8h	445.44	+0.083%	$2K	$5.4M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	445.33	+0.058%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	445.09	+0.004%	$1.5M	$467K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0008%	1h	444.60	−0.106%	$356K	$96K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	445.31	+0.054%	$224K	$597K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	444.95	−0.027%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	444.99	−0.018%	$10.3M	$2.6M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	445.15	+0.018%	$195K	$89K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	444.98	−0.020%	$147	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	444.88	−0.043%	$158K	$22K	10x	as long as short
KuCoin TSMUSDTMshort	+0.0100%	8h	444.99	−0.018%	$269K	$340K	20x
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	445.40	+0.074%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	445.38	+0.069%	$125	—	10x	as long as short
Phoenix TSM	+0.0162%	1h	445.39	+0.072%	$217K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	449.91	+1.087%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0537%	4h	445.31	+0.054%	$48K	$215K	10x	as long as short
Lighter TSM	+0.0656%	1h	445.95	+0.198%	$503K	$160K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0896%	1h	445.35	+0.063%	$4	$61K	10x	as long as short