Funding you earn now, next payment 01:00 UTC−0.0376%/8h= −41.2% APRpaid last 24h −0.091%
Price spread now: Bybit against Deribit−0.058%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.058% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TSM_USDC-PERPETUAL | 447.56 | 0.0376 | pay 0.0047% / 1h | 10m 00s | $98 | $32K | 10x |
| Short | Bybit TSMUSDT | 447.30 | 0 | get 0.0000% / 8h | 7h 10m | $2.0M | $413K | 50x |
Deribit TSM_USDC-PERPETUAL
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. 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
- −$78.96
- Price spread: −0.058% → 0.000%
- −$5.81
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$102.77
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 2 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 2.24 bp | 13.8 bp −$14 | 68.5 bp −$685 | doesn't fit | doesn't fit |
Deribit: 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 | −0.0210% | 4h | 447.61 | +0.011% | $48K | $217K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | −0.136% | $358K | $101K | 10x | as long as short |
| BloFin TSM-USDT | −0.0013% | 8h | 447.52 | −0.009% | $44K | $101K | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.49 | −0.015% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.53 | −0.006% | $5K | $204K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 447.61 | +0.012% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 447.30 | −0.058% | $2.0M | $413K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.56 | 0.000% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 447.37 | −0.042% | $1.7M | $928K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.40 | −0.035% | $554K | $82K | — | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TSM-USDT | 0.0000% | 8h | 447.63 | +0.016% | $1K | $4.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 447.28 | −0.063% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 447.58 | +0.004% | $1.5M | $455K | 10x | as long as short |
| Bitget TSMUSDT | +0.0021% | 8h | 447.51 | −0.011% | $1.6M | $1.4M | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.58 | +0.004% | $224K | $650K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.40 | −0.036% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.20 | −0.080% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.26 | −0.067% | $198K | $42K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 447.15 | −0.092% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.17 | −0.087% | $158K | $22K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0063% | 8h | 447.35 | −0.047% | $13K | $1.1M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 447.18 | −0.085% | $272K | $313K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.55 | −0.002% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.51 | −0.010% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 447.59 | +0.007% | $218K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 452.15 | +1.026% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0296% | 1h | 448.06 | +0.112% | $506K | $167K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUALlong | +0.0376% | 1h | 447.56 | long leg | $98 | $32K | 10x |
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Bitget TSMUSDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM