Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.029%
Price spread now: Bybit against Ondo Perps−0.029%7-day average +0.036% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.111%−$11 on $10k
+Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.029%, 7d avg +0.036%
=Together, before fees−0.028%+ Points / potential airdropOndo Perps: Active · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.066% cheaper against Ondo Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.036%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps TSM-USD.P | 445.78 | 0.0050 | pay 0.0006% / 1h | 27m 34s | $159K | $22K | 10x |
| Short | Bybit TSMUSDT | 445.65 | 0 | get 0.0000% / 8h | 1h 27m | $2.0M | $421K | 50x |
Ondo Perps TSM-USD.P
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Ondo Perps. 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
- −$10.58
- Price spread: −0.029% → +0.036%
- −$6.56
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$33.14
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 4 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 4 min ago | 1.57 bp | 10.9 bp −$11 | 41.8 bp −$418 | doesn't fit | doesn't fit |
Ondo Perps: 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 | 445.72 | −0.013% | $82K | $1K | 20x | as long as short |
| Extended TSM-USD | 0.0000% | 1h | 445.79 | +0.002% | $2K | $167K | 10x | as long as short |
| Binance TSMUSDT | 0.0000% | 8h | 445.91 | +0.029% | $13.1M | $6.9M | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 445.65 | −0.029% | $2.0M | $421K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 445.84 | +0.013% | $4.0M | $3.1M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 445.57 | −0.047% | $1.7M | $921K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 445.82 | +0.009% | $1.6M | $1.5M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 445.64 | −0.032% | $552K | $85K | — | as long as short |
| GRVT TSM_USDT_Perp | 0.0000% | 8h | 445.82 | +0.009% | $15K | $1.1M | 10x | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 445.86 | +0.018% | $2K | $5.4M | 10x | as long as short |
Aster TSMUSDT
Extended TSM-USD
Binance TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
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 | 445.42 | −0.081% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 445.21 | −0.128% | $1.5M | $469K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0008% | 1h | 444.60 | −0.265% | $356K | $96K | 10x | as long as short |
| BloFin TSM-USDT | +0.0018% | 8h | 445.84 | +0.013% | $44K | $104K | 20x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 446.00 | +0.049% | $225K | $598K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 445.73 | −0.011% | — | — | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 445.72 | −0.013% | $10.3M | $2.6M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 445.70 | −0.018% | $196K | $91K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 445.59 | −0.043% | $147 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.Plong | +0.0050% | 1h | 445.78 | long leg | $159K | $22K | 10x | |
| edgeX TSMUSDC | +0.0058% | 4h | 445.72 | −0.012% | $48K | $214K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0087% | 1h | 445.83 | +0.011% | $4 | $61K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 445.46 | −0.072% | $270K | $336K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 445.79 | +0.002% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 445.97 | +0.043% | $125 | — | 10x | as long as short |
| Phoenix TSM | +0.0162% | 1h | 445.51 | −0.061% | $217K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 449.91 | +0.926% | $7K | $38K | 12x | as long as short |
| Lighter TSM | +0.0456% | 1h | 446.52 | +0.166% | $504K | $167K | 10x | as long as short |
HTX TSM-USDT
Phemex TSMUSDT
Coinbase International TSM-PERP-INTX
BloFin TSM-USDT
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Lighter TSM