Funding you earn now, next payment 09:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%
Price spread now: Bybit against Injective−0.946%68s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 −$7 a day on $10k at the current rate, and Bybit is 0.946% cheaper against Injective than usual: you would sell low and buy high (−$95 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TSM/USDC PERP | 443.95 | 0.0220 | pay 0.0028% / 1h | 10m 10s | $6K | $38K | 12x |
| Short | Bybit TSMUSDT | 439.75 | 0 | get 0.0000% / 8h | 7h 10m | $2.0M | $399K | 50x |
Injective TSM/USDC PERP
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$46.2
- Price spread: −0.946% → 0.000%
- −$94.61
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$151.83
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 1 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 1 min ago | 1.37 bp | 12.8 bp −$13 | 40.3 bp −$403 | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TSMUSDT | 0.0000% | 8h | 439.70 | −0.958% | $82K | $2K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 440.04 | −0.880% | $1K | $214K | 10x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 439.75 | −0.946% | $2.0M | $399K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 440.01 | −0.887% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.76 | −0.944% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 440.11 | −0.865% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.89 | −0.914% | $551K | $44K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 438.76 | −1.169% | $13K | $1.3M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.20 | −0.845% | $1K | $4.0M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.08 | −0.872% | $9K | $8K | 20x | as long as short |
Aster TSMUSDT
Extended TSM-USD
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDT
HTX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TSMUSDT | 0.0000% | 8h | 440.28 | −0.827% | $1.5M | $545K | 10x | as long as short |
| Binance TSMUSDT | +0.0002% | 8h | 440.16 | −0.854% | $12.9M | $8.3M | 20x | as long as short |
| BloFin TSM-USDT | +0.0020% | 8h | 439.96 | −0.899% | $45K | $111K | 20x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.91 | −0.910% | $495K | $190K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 440.04 | −0.881% | $203K | $746K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0040% | 1h | 439.32 | −1.043% | $371K | $97K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.44 | −1.016% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.64 | −0.971% | $10.0M | $1.9M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.80 | −0.935% | $190K | $67K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.45 | −1.014% | $138 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.66 | −0.966% | $158K | $27K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.52 | −0.998% | $267K | $360K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 440.03 | −0.883% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 440.05 | −0.879% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0145% | 1h | 439.24 | −1.061% | $208K | $10K | 10x | as long as short |
| Injective TSM/USDC PERPlong | +0.0220% | 1h | 443.95 | long leg | $6K | $38K | 12x | |
| edgeX TSMUSDC | +0.0473% | 4h | 439.35 | −1.036% | $47K | $217K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0546% | 1h | 440.14 | −0.858% | $4 | $13K | 10x | as long as short |
Phemex TSMUSDT
Binance TSMUSDT
BloFin TSM-USDT
Lighter TSM
Lighter RH TSM
Coinbase International TSM-PERP-INTX
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL