Funding you earn now, next payment 10:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.020%
Price spread now: Bybit against Lighter RH−0.027%7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days−0.086%−$9 on $10k
+Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.027%, 7d avg −0.058%
=Together, before fees−0.017%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.030% dearer against Lighter RH than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.058%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 38 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH TSM | 439.70 | 0.0064 | pay 0.0008% / 1h | 54m 35s | $196K | $724K | 10x |
| Short | Bybit TSMUSDT | 439.58 | 0 | get 0.0000% / 8h | 6h 54m | $2.0M | $401K | 50x |
Lighter RH TSM
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Lighter RH. 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
- −$13.44
- Price spread: −0.027% → −0.058%
- $3.04
- Slippage, 4 orders
- −$22.35
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$43.75
- Costs to cover
- 0.334%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 38 min ago; Bybit: live order book, 2 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 Lighter RH live order book, 38 min ago | 1.49 bp | 3.3 bp −$3 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.82 bp | 13.8 bp −$14 | 37.2 bp −$372 | 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 | −0.0060% | 4h | 439.99 | +0.065% | $47K | $216K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | −0.0016% | 1h | 439.24 | −0.105% | $371K | $98K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.80 | +0.023% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 439.58 | −0.027% | $2.0M | $401K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.65 | −0.011% | $4.0M | $2.7M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.52 | −0.041% | $1.7M | $1.1M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 439.68 | −0.005% | $1.8M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 440.01 | +0.070% | $551K | $44K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 440.03 | +0.075% | $1K | $3.9M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 440.08 | +0.086% | $9K | $8K | 20x | as long as short |
edgeX TSMUSDC
Coinbase International TSM-PERP-INTX
Aster TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
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 | 439.89 | +0.043% | $1.5M | $542K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 439.73 | +0.007% | $495K | $143K | 10x | as long as short |
| Extended TSM-USD | +0.0032% | 1h | 439.62 | −0.019% | $1K | $214K | 10x | as long as short |
| Binance TSMUSDT | +0.0035% | 8h | 439.80 | +0.023% | $12.9M | $8.3M | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 439.61 | −0.020% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 439.36 | −0.077% | $10.1M | $2.0M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 439.49 | −0.048% | $190K | $67K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 439.41 | −0.066% | $134 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 439.93 | +0.052% | $158K | $27K | 10x | as long as short |
| BloFin TSM-USDT | +0.0063% | 8h | 439.85 | +0.034% | $45K | $111K | 20x | as long as short |
| Lighter RH TSMlong | +0.0064% | 1h | 439.70 | long leg | $196K | $724K | 10x | |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.46 | −0.055% | $267K | $376K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.79 | +0.020% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.76 | +0.013% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0145% | 1h | 439.83 | +0.030% | $209K | $10K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 443.95 | +0.967% | $6K | $38K | 12x | as long as short |
| GRVT TSM_USDT_Perp | +0.0279% | 8h | 439.98 | +0.063% | $12K | $1.3M | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0660% | 1h | 439.81 | +0.025% | $4 | $13K | 10x | as long as short |
Phemex TSMUSDT
Lighter TSM
Extended TSM-USD
Binance TSMUSDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
GRVT TSM_USDT_Perp
Deribit TSM_USDC-PERPETUAL