data as of
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Price arb /

TSM

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$56
spread now−0.151%7d average−0.111%fees + slippage, in and out−$52spread needed0.520%
Long on LighterShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter TSM443.680.0120pay 0.0015% / 1h51m 55s$501K$141K10x
ShortBybit TSMUSDT443.010get 0.0000% / 8h6h 51m$2.0M$348K50x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$15.1
Funding while held
−$3.6
Slippage, 4 orders
−$40.97
Fee Lighter: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$70.67
Spread needed to break even
0.520%
Slippage from Lighter: live order book, 49 min ago; Bybit: live order book, 1 min ago.

Cost of waiting

funding view
Funding /8h
−0.0120%
Per $10,000 a day
−$3.60
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 49 min ago7.70 bp7.9 bp −$811.9 bp −$119doesn't fitdoesn't fit
Sell Bybit live order book, 1 min ago1.69 bp12.4 bp −$1236.5 bp −$365doesn't fitdoesn't fit

TSM price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International442.09cheapestOndo Perps442.85+0.172%tradeXYZ442.94+0.192%SoDEX442.96+0.197%Polymarket Perps442.97+0.199%KuCoin442.98+0.201%
Bybit443.01+0.208%
Gate443.01+0.208%Vest443.08+0.224%Variational Omni443.12+0.234%OKX443.13+0.235%Binance443.14+0.237%Bitget443.16+0.242%Phoenix443.16+0.242%edgeX443.19+0.248%Lighter RH443.19+0.249%Deribit443.21+0.253%Extended443.23+0.257%Phemex443.24+0.260%Aevo443.27+0.267%Orderly443.28+0.269%SunX443.32+0.278%HTX443.38+0.292%BloFin443.53+0.326%Aster443.65+0.353%
Lighter443.68+0.360%
Injective447.58+1.242%

TSM on 27 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International TSM-PERP-INTX−0.358%−0.0048%1h$357K$84K10xas long as short
Ondo Perps TSM-USD.P−0.187%+0.0050%1h$157K$17K10xas long as short
tradeXYZ xyz:TSM−0.167%+0.0050%1h$10.3M$2.2M10xas long as short
SoDEX TSM-USD−0.162%+0.0050%1h$148$3K10xas long as short
Polymarket Perps TSM-USD−0.160%+0.0050%1h$187K$82K10xas long as short
KuCoin TSMUSDTM−0.158%+0.0100%8h$272K$301K20xas long as short
Bybit TSMUSDTshort−0.151%0.0000%8h$2.0M$348K50x
Gate TSM_USDT−0.151%0.0000%8h$1.7M$802K100xas long as short
Vest TSM-USD-PERP−0.135%+0.0046%1h——25xas long as short
Variational Omni TSM−0.125%0.0000%8h$559K$81K—as long as short
Show all 27 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX TSM-USDT-SWAP−0.124%0.0000%8h$3.9M$2.8M20xas long as short
Binance TSMUSDT−0.122%0.0000%8h$13.1M$6.0M20xas long as short
Bitget TSMUSDT−0.117%+0.0099%8h$1.6M$1.4M20xas long as short
Phoenix TSM−0.117%+0.0181%1h$216K$5K10xas long as short
edgeX TSMUSDC−0.111%+0.0125%4h$48K$215K10xas long as short
Lighter RH TSM−0.110%+0.0032%1h$201K$887K10xas long as short
Deribit TSM_USDC-PERPETUAL−0.106%0.0000%1h$98$61K10xas long as short
Extended TSM-USD−0.102%0.0000%1h$2K$167K10xas long as short
Phemex TSMUSDT−0.099%0.0000%8h$1.5M$396K10xas long as short
Aevo TSM-PERP−0.092%+0.0104%1h$124—10xas long as short
Orderly PERP_TSM_USDC_mythos−0.090%+0.0100%8h$21—10xas long as short
SunX TSM-USDT−0.081%0.0000%8h$1K$5.3M10xas long as short
HTX TSM-USDT−0.068%0.0000%8h$9K$8K20xas long as short
BloFin TSM-USDT−0.034%+0.0007%8h$45K$90K20xas long as short
Aster TSMUSDT−0.007%0.0000%8h$81K$1K20xas long as short
Lighter TSMlong0.000%+0.0120%1h$501K$141K10x
Injective TSM/USDC PERP+0.879%+0.0220%1h$7K$38K12xas long as short