Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.047%
Price spread now: Bybit against Lighter−0.055%7-day average −0.117% · you buy dearer than you sell
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$670.667% of the position
Funding, last 7 days−0.384%−$38 on $10k
+Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.055%, 7d avg −0.117%
=Together, before fees−0.432%+ Points / potential airdropLighter: Season 3 · farm board−$43 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.062% dearer against Lighter than usual: you sell high and buy low (spread −0.055% now, against its 7-day average of −0.117%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.5 days. At the pace of the last 7 days (−0.384% in total) that is about 27 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TSM | 439.29 | 0.0032 | pay 0.0004% / 1h | 50m 06s | $495K | $185K | 10x |
| Short | Bybit TSMUSDT | 439.05 | 0 | get 0.0000% / 8h | 50m 06s | $2.0M | $400K | 50x |
Lighter TSM
Bybit TSMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Lighter. 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
- −$6.72
- Price spread: −0.055% → −0.117%
- $6.24
- Slippage, 4 orders
- −$55.67
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$67.16
- Costs to cover
- 0.667%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 45 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 live order book, 45 min ago | 16.60 bp | 16.8 bp −$17 | 21.0 bp −$210 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.68 bp | 16.1 bp −$16 | 69.2 bp −$692 | 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 | −0.0727% | 4h | 439.57 | +0.064% | $47K | $216K | 10x | as long as short |
| Bitget TSMUSDT | −0.0165% | 8h | 439.40 | +0.025% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.30 | +0.002% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDTshort | 0.0000% | 8h | 439.05 | −0.055% | $2.0M | $400K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.21 | −0.018% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.09 | −0.046% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.35 | +0.014% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.31 | +0.005% | $1K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.43 | +0.032% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.24 | +0.216% | $1.5M | $527K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
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 TSMlong | +0.0032% | 1h | 439.29 | long leg | $495K | $185K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 438.98 | −0.071% | $221K | $720K | 10x | as long as short |
| tradeXYZ xyz:TSM | +0.0042% | 1h | 438.87 | −0.096% | $10.1M | $1.8M | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 438.84 | −0.102% | — | $2K | 25x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 438.98 | −0.071% | $189K | $68K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 438.85 | −0.100% | $137 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.66 | −0.143% | $158K | $27K | 10x | as long as short |
| BloFin TSM-USDT | +0.0055% | 8h | 439.50 | +0.048% | $45K | $106K | 20x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.10 | −0.043% | $4K | $153K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | +0.009% | $366K | $99K | 10x | as long as short |
| Binance TSMUSDT | +0.0057% | 8h | 439.37 | +0.018% | $12.8M | $8.0M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0065% | 8h | 439.68 | +0.089% | $6K | $1.3M | 10x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 438.88 | −0.093% | $267K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.05 | −0.055% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.21 | −0.017% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.40 | +0.025% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +1.077% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0548% | 1h | 439.20 | −0.020% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
tradeXYZ xyz:TSM
Vest TSM-USD-PERP
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
BloFin TSM-USDT
Extended TSM-USD
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
GRVT TSM_USDT_Perp
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL