Funding you earn now, next payment 04:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%
Price spread now: Injective against Bybit+1.446%88s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 1.446% dearer against Bybit than usual: you sell high and buy low: +$145 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TSMUSDT | 441.31 | 0 | get 0.0000% / 8h | 4h 37m | $2.0M | $395K | 50x |
| Short | Injective TSM/USDC PERP | 447.69 | 0.0220 | get 0.0028% / 1h | 37m 52s | $7K | $38K | 12x |
Bybit TSMUSDT
Injective TSM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- $46.2
- Price spread: +1.446% → 0.000%
- $144.57
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $179.75
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 4 min ago; Injective: no order-book sample. 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 Bybit live order book, 4 min ago | 1.93 bp | 12.2 bp −$12 | 69.1 bp −$691 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | 441.57 | +0.059% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDTlong | 0.0000% | 8h | 441.31 | long leg | $2.0M | $395K | 50x | |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 441.42 | +0.025% | $4.0M | $2.5M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 441.22 | −0.020% | $1.7M | $1.0M | 100x | as long as short |
| Bitget TSMUSDT | 0.0000% | 8h | 441.43 | +0.027% | $1.7M | $1.4M | 20x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 441.51 | +0.046% | $547K | $40K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 441.47 | +0.036% | $1K | $4.3M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 441.41 | +0.023% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 441.80 | +0.111% | $1.5M | $464K | 10x | as long as short |
| Lighter TSM | +0.0032% | 1h | 441.63 | +0.073% | $497K | $175K | 10x | as long as short |
Aster TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Bitget TSMUSDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDT
Lighter TSMShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH TSM | +0.0032% | 1h | 441.33 | +0.005% | $220K | $643K | 10x | as long as short |
| BloFin TSM-USDT | +0.0044% | 8h | 441.68 | +0.084% | $45K | $99K | 20x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 440.92 | −0.088% | — | $583 | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 441.05 | −0.059% | $10.2M | $2.2M | 10x | as long as short |
| Polymarket Perps TSM-USD | +0.0050% | 1h | 441.13 | −0.041% | $194K | $52K | 10x | as long as short |
| SoDEX TSM-USD | +0.0050% | 1h | 441.05 | −0.059% | $138 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 441.02 | −0.066% | $158K | $23K | 10x | as long as short |
| Extended TSM-USD | +0.0064% | 1h | 441.34 | +0.007% | $1K | $190K | 10x | as long as short |
| Binance TSMUSDT | +0.0065% | 8h | 441.47 | +0.035% | $13.0M | $7.1M | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 441.11 | −0.045% | $268K | $316K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 441.39 | +0.018% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 441.40 | +0.021% | $124 | — | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0120% | 1h | 440.79 | −0.118% | $368K | $102K | 10x | as long as short |
| GRVT TSM_USDT_Perp | +0.0122% | 8h | 441.58 | +0.061% | $16K | $1.2M | 10x | as long as short |
| Phoenix TSM | +0.0199% | 1h | 441.34 | +0.007% | $215K | $5K | 10x | as long as short |
| Injective TSM/USDC PERPshort | +0.0220% | 1h | 447.69 | +1.446% | $7K | $38K | 12x | |
| edgeX TSMUSDC | +0.0227% | 4h | 441.29 | −0.005% | $47K | $215K | 10x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0589% | 1h | 441.35 | +0.009% | $4 | $24K | 10x | as long as short |
Lighter RH TSM
BloFin TSM-USDT
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
Polymarket Perps TSM-USD
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Binance TSMUSDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Coinbase International TSM-PERP-INTX
GRVT TSM_USDT_Perp
Phoenix TSM
edgeX TSMUSDC
Deribit TSM_USDC-PERPETUAL