Funding arb · Price arb /

TSM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against SunX−0.059%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$275as in the Funding arb table

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2762.759% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.059%, 7d avg −0.035%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.024% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TSM-USDT	441.25	0	get 0.0000% / 8h	2h 56m	$2K	$4.2M	10x
Short	Bybit TSMUSDT	440.99	0	get 0.0000% / 8h	2h 56m	$2.0M	$395K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SunXbpFee BybitbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.035%: −$2.4
Slippage, 4 orders: −$256.9
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$278.31
Costs to cover: 2.759%
Break-even: never at this rate

Slippage from SunX: live order book, 12 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 SunX live order book, 12 min ago	44.62 bp	123.0 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.27 bp	14.7 bp −$15	72.0 bp −$720	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	−0.0438%	4h	440.92	−0.075%	$48K	$217K	10x	as long as short
Bitget TSMUSDT	−0.0203%	8h	440.92	−0.075%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	441.27	+0.004%	$82K	$2K	20x	as long as short
Bybit TSMUSDTshort	0.0000%	8h	440.99	−0.059%	$2.0M	$395K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	441.10	−0.034%	$4.0M	$2.5M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	441.01	−0.054%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	440.89	−0.081%	$546K	$40K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	441.25	long leg	$2K	$4.2M	10x
HTX TSM-USDT	0.0000%	8h	440.78	−0.107%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	441.23	−0.005%	$1.5M	$495K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TSM	+0.0032%	1h	441.03	−0.050%	$497K	$137K	10x	as long as short
Lighter RH TSM	+0.0032%	1h	441.11	−0.032%	$220K	$676K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	440.83	−0.095%	—	$583	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	440.88	−0.084%	$10.2M	$2.0M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	440.91	−0.077%	$192K	$61K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	440.67	−0.131%	$139	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	440.96	−0.066%	$157K	$23K	10x	as long as short
BloFin TSM-USDT	+0.0060%	8h	441.07	−0.041%	$45K	$102K	20x	as long as short
Binance TSMUSDT	+0.0063%	8h	441.25	0.000%	$12.9M	$7.6M	20x	as long as short
Extended TSM-USD	+0.0064%	1h	441.13	−0.028%	$6K	$196K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0068%	8h	440.89	−0.081%	$10K	$1.3M	10x	as long as short
Coinbase International TSM-PERP-INTX	+0.0072%	1h	440.03	−0.276%	$367K	$102K	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	440.90	−0.079%	$268K	$311K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	441.22	−0.007%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	441.17	−0.017%	$124	—	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0113%	1h	441.14	−0.025%	$4	$24K	10x	as long as short
Phoenix TSM	+0.0199%	1h	440.79	−0.104%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	445.33	+0.925%	$6K	$38K	12x	as long as short