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−0.075%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−$280as in the Price arb table

costs, in and out, $10k−$2762.756% 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)+0.065%+$6 · spread now −0.075%, 7d avg −0.035%

Together, before fees+0.072%+$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 0.040% cheaper against SunX than usual: you would sell low and buy high, −$4 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	439.76	0	get 0.0000% / 8h	1h 22m	$1K	$4.1M	10x
Short	Bybit TSMUSDT	439.43	0	get 0.0000% / 8h	1h 22m	$2.0M	$398K	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 −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.035%: −$3.99
Slippage, 4 orders: −$256.62
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$279.6
Costs to cover: 2.756%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Bybit: live order book, 4 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, 6 min ago	44.93 bp	123.2 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.71 bp	13.9 bp −$14	69.1 bp −$691	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
Bitget TSMUSDT	−0.0229%	8h	439.74	−0.005%	$1.7M	$1.5M	20x	as long as short
Aster TSMUSDT	0.0000%	8h	439.57	−0.043%	$82K	$2K	20x	as long as short
Bybit TSMUSDTshort	0.0000%	8h	439.43	−0.075%	$2.0M	$398K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	439.65	−0.025%	$4.0M	$2.6M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	439.44	−0.073%	$1.7M	$1.1M	100x	as long as short
Variational Omni TSM	0.0000%	8h	439.63	−0.030%	$558K	$37K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	439.76	long leg	$1K	$4.1M	10x
HTX TSM-USDT	0.0000%	8h	439.57	−0.043%	$9K	$8K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	440.68	+0.209%	$1.5M	$517K	10x	as long as short
Lighter TSM	+0.0032%	1h	439.57	−0.043%	$495K	$137K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSM	+0.0032%	1h	439.56	−0.045%	$224K	$684K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	439.31	−0.102%	—	$1K	25x	as long as short
Coinbase International TSM-PERP-INTX	+0.0048%	1h	439.33	−0.098%	$366K	$102K	10x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	439.27	−0.111%	$10.2M	$1.7M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	439.34	−0.096%	$190K	$68K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	439.22	−0.123%	$136	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	438.99	−0.175%	$157K	$27K	10x	as long as short
BloFin TSM-USDT	+0.0053%	8h	439.75	−0.002%	$45K	$106K	20x	as long as short
Extended TSM-USD	+0.0080%	1h	439.70	−0.013%	$3K	$148K	10x	as long as short
Binance TSMUSDT	+0.0082%	8h	439.81	+0.011%	$12.9M	$7.9M	20x	as long as short
GRVT TSM_USDT_Perp	+0.0090%	8h	439.55	−0.048%	$14K	$1.3M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	439.27	−0.111%	$267K	$310K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	439.65	−0.025%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	439.65	−0.026%	$123	—	10x	as long as short
Phoenix TSM	+0.0164%	1h	439.35	−0.093%	$214K	$5K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	444.27	+1.026%	$6K	$38K	12x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0479%	1h	439.56	−0.045%	$4	$25K	10x	as long as short
edgeX TSMUSDC	+0.0994%	4h	439.53	−0.052%	$47K	$216K	10x	as long as short