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: OKX against Bybit+0.025%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Bybit Short on OKX

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−0.055%−$6 · spread now +0.025%, 7d avg −0.004%

Together, before fees−0.062%−$6 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: OKX is 0.029% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSMUSDT	440.69	0	get 0.0000% / 8h	3h 25m	$2.0M	$388K	50x
Short	OKX TSM-USDT-SWAP	440.80	0	get 0.0000% / 8h	3h 25m	$4.0M	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.004%: $2.91
Slippage, 4 orders: −$27.73
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.82
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; OKX: live order book, 2 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, 1 min ago	2.15 bp	12.1 bp −$12	69.6 bp −$696	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.91 bp	12.9 bp −$13	27.1 bp −$271	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	−0.0782%	4h	441.17	+0.108%	$47K	$216K	10x	as long as short
Bitget TSMUSDT	−0.0199%	8h	441.06	+0.084%	$1.8M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	440.84	+0.034%	$82K	$2K	20x	as long as short
Bybit TSMUSDTlong	0.0000%	8h	440.69	long leg	$2.0M	$388K	50x
OKX TSM-USDT-SWAPshort	0.0000%	8h	440.80	+0.025%	$4.0M	$2.5M	20x
Gate TSM_USDT	0.0000%	8h	440.70	+0.002%	$1.7M	$1.0M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.93	+0.054%	$546K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.01	+0.073%	$1K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	440.91	+0.050%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.01	+0.073%	$1.5M	$483K	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	440.84	+0.034%	$496K	$176K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	440.78	+0.020%	$223K	$671K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.41	−0.064%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.37	−0.073%	$10.2M	$2.1M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.52	−0.039%	$192K	$60K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.49	−0.045%	$140	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.56	−0.029%	$158K	$22K	10x	as long as short
Binance TSMUSDT	+0.0070%	8h	440.82	+0.029%	$12.9M	$7.5M	20x	as long as short
BloFin TSM-USDT	+0.0070%	8h	441.32	+0.143%	$45K	$100K	20x	as long as short
Extended TSM-USD	+0.0072%	1h	440.69	+0.001%	$2K	$195K	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0088%	1h	440.03	−0.150%	$367K	$102K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0095%	8h	440.92	+0.052%	$11K	$1.2M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.45	−0.054%	$267K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	440.93	+0.054%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	440.92	+0.053%	$123	—	10x	as long as short
Phoenix TSM	+0.0199%	1h	441.09	+0.091%	$215K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.10	+1.001%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0454%	1h	440.86	+0.039%	$4	$24K	10x	as long as short