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 Orderly−0.027%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 −$3 a day on $10k at the current rate, and Bybit is 0.027% cheaper against Orderly than usual: you would sell low and buy high (−$3 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 | Orderly PERP_TSM_USDC_mythos | 443.92 | 0.0100 | pay 0.0100% / 8h | 5h 35m | $21 | — | 10x |
| Short | Bybit TSMUSDT | 443.80 | 0 | get 0.0000% / 8h | 5h 35m | $2.0M | $392K | 50x |
Orderly PERP_TSM_USDC_mythos
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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: −0.027% → 0.000%
- −$2.7
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$40.7
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 6 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 6 min ago | 1.92 bp | 12.9 bp −$13 | 53.9 bp −$539 | doesn't fit | doesn't fit |
Orderly: 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 | −0.0556% | 4h | 443.73 | −0.042% | $48K | $216K | 10x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 444.19 | +0.062% | $82K | $1K | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 443.80 | −0.027% | $2.0M | $392K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 444.02 | +0.023% | $4.0M | $2.4M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 443.85 | −0.016% | $1.7M | $954K | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 443.94 | +0.005% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 443.95 | +0.006% | $550K | $61K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 444.03 | +0.025% | $1K | $4.4M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 444.00 | +0.018% | $9K | $9K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 444.18 | +0.059% | $1.5M | $441K | 10x | as long as short |
edgeX TSMUSDC
Aster TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSM | +0.0032% | 1h | 444.20 | +0.063% | $501K | $173K | 10x | as long as short |
| Lighter RH TSM | +0.0032% | 1h | 443.98 | +0.014% | $221K | $644K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 443.72 | −0.045% | — | $583 | 25x | as long as short |
| Extended TSM-USD | +0.0048% | 1h | 443.87 | −0.011% | $1K | $191K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 443.59 | −0.074% | $10.3M | $2.3M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 443.62 | −0.068% | $196K | $51K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 443.54 | −0.086% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 443.66 | −0.059% | $159K | $23K | 10x | as long as short |
| Binance TSMUSDT | +0.0051% | 8h | 444.00 | +0.018% | $13.0M | $6.8M | 20x | as long as short |
| BloFin TSM-USDT | +0.0058% | 8h | 443.95 | +0.007% | $45K | $98K | 20x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0088% | 1h | 443.92 | 0.000% | $98 | $24K | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 443.51 | −0.092% | $270K | $320K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythoslong | +0.0100% | 8h | 443.92 | long leg | $21 | — | 10x | |
| Aevo TSM-PERP | +0.0104% | 1h | 444.00 | +0.018% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0152% | 1h | 443.28 | −0.144% | $370K | $107K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0168% | 8h | 443.83 | −0.020% | $8K | $1.1M | 10x | as long as short |
| Phoenix TSM | +0.0217% | 1h | 443.67 | −0.056% | $216K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 448.49 | +1.029% | $7K | $38K | 12x | as long as short |
Lighter TSM
Lighter RH TSM
Vest TSM-USD-PERP
Extended TSM-USD
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Binance TSMUSDT
BloFin TSM-USDT
Deribit TSM_USDC-PERPETUAL
KuCoin TSMUSDTM
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Phoenix TSM
Injective TSM/USDC PERP