Funding you earn now, next payment 03:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.003%
Price spread now: Bybit against Coinbase International−0.041%7-day average +0.168% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$450.449% of the position
Funding, last 7 days+0.151%+$15 on $10k
+Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.041%, 7d avg +0.168%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.209% cheaper against Coinbase International than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.168%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.151%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TSM-PERP-INTX | 441.85 | 0.0120 | pay 0.0015% / 1h | 45m 41s | $368K | $108K | 10x |
| Short | Bybit TSMUSDT | 441.67 | 0 | get 0.0000% / 8h | 4h 45m | $2.0M | $390K | 50x |
Coinbase International TSM-PERP-INTX
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Coinbase International. 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
- −$25.2
- Price spread: −0.041% → +0.168%
- −$20.91
- Slippage, 4 orders
- −$23.87
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$90.98
- Costs to cover
- 0.449%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 12 min ago; Bybit: live order book, 1 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 Coinbase International live order book, 12 min ago | 4.64 bp | 9.6 bp −$10 | 12.3 bp −$123 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.92 bp | 13.6 bp −$14 | 60.5 bp −$605 | 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 | −0.0681% | 4h | 442.12 | +0.061% | $48K | $217K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 442.41 | +0.127% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 441.67 | −0.041% | $2.0M | $390K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 442.01 | +0.036% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.73 | −0.027% | $1.7M | $968K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 442.02 | +0.038% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.98 | +0.029% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 442.10 | +0.057% | $2K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.98 | +0.029% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 442.86 | +0.229% | $1.5M | $454K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 442.13 | +0.063% | $498K | $175K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 441.82 | −0.007% | $220K | $642K | 10x | as long as short |
| BloFin TSM-USDT | +0.0040% | 8h | 442.31 | +0.104% | $45K | $98K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 441.55 | −0.068% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.49 | −0.081% | $10.2M | $2.3M | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.59 | −0.059% | $133 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.74 | −0.025% | $158K | $23K | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0053% | 1h | 441.75 | −0.023% | $194K | $52K | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 441.84 | −0.003% | $3K | $188K | 10x | as long as short |
| Binance TSMUSDT | +0.0062% | 8h | 441.98 | +0.029% | $13.0M | $6.9M | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.53 | −0.072% | $268K | $317K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.83 | −0.005% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 442.03 | +0.040% | $124 | — | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0118% | 8h | 442.22 | +0.084% | $6K | $1.2M | 10x | as long as short |
| Coinbase International TSM-PERP-INTXlong | +0.0120% | 1h | 441.85 | long leg | $368K | $108K | 10x | |
| Phoenix TSM | +0.0199% | 1h | 441.94 | +0.020% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 447.69 | +1.322% | $7K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0860% | 1h | 441.98 | +0.029% | $4 | $24K | 10x | as long as short |
Lighter TSM
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Polymarket Perps TSM-USD
Extended TSM-USD
Binance TSMUSDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL