Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Bybit against KuCoin+0.103%7-day average +0.042% · you sell dearer than you buy
Net, funding: paid 7d − costs−$208as in the Funding arb table
Net, price: spread back to 7d avg − costs−$182as in the Price arb table
costs, in and out, $10k−$1881.877% of the position
Funding, last 7 days−0.203%−$20 on $10k
+Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.103%, 7d avg +0.042%
=The price spread pays, funding is against you. Bybit is 0.061% dearer against KuCoin than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of +0.042%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TSMUSDTM | 446.95 | 0.0100 | pay 0.0100% / 8h | 7h 31m | $271K | $312K | 20x |
| Short | Bybit TSMUSDT | 447.41 | 0 | get 0.0000% / 8h | 7h 31m | $2.0M | $411K | 50x |
KuCoin TSMUSDTM
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. 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
- −$21
- Price spread: +0.103% → +0.042%
- $6.05
- Slippage, 4 orders
- −$164.73
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$202.68
- Costs to cover
- 1.877%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 20 min ago; Bybit: live order book, 5 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 KuCoin live order book, 20 min ago | 16.89 bp | 108.6 bp −$109 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.90 bp | 12.7 bp −$13 | 55.6 bp −$556 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International TSM-PERP-INTX | −0.0024% | 1h | 446.95 | 0.000% | $358K | $101K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 447.34 | +0.087% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 447.20 | +0.055% | $3K | $204K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 447.49 | +0.122% | $13.2M | $6.9M | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 447.41 | +0.103% | $2.0M | $411K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 447.85 | +0.201% | $4.0M | $3.0M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 446.98 | +0.007% | $1.7M | $908K | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 447.25 | +0.066% | $554K | $84K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 447.35 | +0.089% | $9K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 447.29 | +0.076% | $1K | $5.0M | 10x | as long as short |
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
GRVT TSM_USDT_Perp
SunX TSM-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TSM-USDT | 0.0000% | 8h | 446.93 | −0.004% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 447.95 | +0.224% | $1.5M | $451K | 10x | as long as short |
| Bitget TSMUSDT | +0.0004% | 8h | 447.30 | +0.078% | $1.6M | $1.4M | 20x | as long as short |
| BloFin TSM-USDT | +0.0026% | 8h | 447.19 | +0.054% | $44K | $102K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 447.60 | +0.145% | $232K | $638K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 447.17 | +0.049% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 447.03 | +0.018% | $10.3M | $2.4M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 447.11 | +0.036% | $197K | $41K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 446.97 | +0.004% | $146 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 447.09 | +0.031% | $158K | $20K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0085% | 1h | 447.39 | +0.098% | $4 | $32K | 10x | as long as short |
| KuCoin TSMUSDTMlong | +0.0100% | 8h | 446.95 | long leg | $271K | $312K | 20x | |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 447.20 | +0.056% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 447.58 | +0.141% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0179% | 1h | 447.34 | +0.087% | $218K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 451.79 | +1.083% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0256% | 1h | 448.19 | +0.277% | $506K | $166K | 10x | as long as short |
| edgeX TSMUSDC | +0.0389% | 4h | 447.28 | +0.074% | $48K | $216K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
Bitget TSMUSDT
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Deribit TSM_USDC-PERPETUAL
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM
edgeX TSMUSDC