Funding arb · Price arb /

TSM

RWAall TSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Bybit−0.005%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.005%, 7d avg −0.039%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.035% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSMUSDT	441.30	0	get 0.0000% / 8h	4h 41m	$2.0M	$395K	50x
Short	Polymarket Perps TSM-USD	441.28	0.0050	get 0.0006% / 1h	41m 17s	$194K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.005%Rate

Funding earned: $10.5
Price spread: −0.005% → −0.039%: $3.46
Slippage, 4 orders: −$20.65
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$25.69
Costs to cover: 0.396%
Break-even: 24.1 days

Slippage from Bybit: live order book, 5 min ago; Polymarket Perps: live order book, 16 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, 5 min ago	1.92 bp	11.2 bp −$11	74.8 bp −$748	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 16 min ago	2.26 bp	8.3 bp −$8	9.8 bp −$98	11.7 bp −$1,171	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
Aster TSMUSDT	0.0000%	8h	442.01	+0.162%	$82K	$2K	20x	as long as short
Bybit TSMUSDTlong	0.0000%	8h	441.30	long leg	$2.0M	$395K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	441.60	+0.068%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.38	+0.018%	$1.7M	$997K	100x	as long as short
Bitget TSMUSDT	0.0000%	8h	441.57	+0.061%	$1.7M	$1.4M	20x	as long as short
Variational Omni TSM	0.0000%	8h	441.98	+0.154%	$547K	$40K	—	as long as short
SunX TSM-USDT	0.0000%	8h	441.62	+0.073%	$1K	$4.3M	10x	as long as short
HTX TSM-USDT	0.0000%	8h	441.07	−0.052%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.89	+0.134%	$1.5M	$457K	10x	as long as short
Lighter TSM	+0.0032%	1h	441.77	+0.107%	$497K	$175K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	441.50	+0.045%	$220K	$642K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	441.14	−0.036%	—	$583	25x	as long as short
BloFin TSM-USDT	+0.0047%	8h	441.37	+0.016%	$45K	$98K	20x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	441.21	−0.020%	$10.2M	$2.2M	10x	as long as short
Polymarket Perps TSM-USDshort	+0.0050%	1h	441.28	−0.005%	$194K	$52K	10x
SoDEX TSM-USD	+0.0050%	1h	441.09	−0.048%	$137	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.37	−0.211%	$158K	$23K	10x	as long as short
Extended TSM-USD	+0.0064%	1h	441.47	+0.038%	$3K	$188K	10x	as long as short
Binance TSMUSDT	+0.0064%	8h	441.60	+0.068%	$13.0M	$7.1M	20x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	441.20	−0.023%	$268K	$317K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.54	+0.054%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.61	+0.071%	$124	—	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0120%	1h	440.79	−0.116%	$368K	$102K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0123%	8h	441.98	+0.155%	$16K	$1.2M	10x	as long as short
Phoenix TSM	+0.0199%	1h	441.34	+0.009%	$215K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	447.69	+1.448%	$7K	$38K	12x	as long as short
edgeX TSMUSDC	+0.0227%	4h	441.29	−0.003%	$47K	$215K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0453%	1h	441.44	+0.032%	$4	$24K	10x	as long as short