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−0.127%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs−$286as in the Price arb table

costs, in and out, $10k−$2772.765% 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 3 days (all we have)+0.117%+$12 · spread now −0.127%, 7d avg −0.035%

Together, before fees+0.124%+$12 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 0.092% cheaper against SunX than usual: you would sell low and buy high, −$9 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	447.55	0	get 0.0000% / 8h	7h 03m	$2K	$4.9M	10x
Short	Bybit TSMUSDT	446.98	0	get 0.0000% / 8h	7h 03m	$2.0M	$413K	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 −0.127%Rate

Funding earned: $0
Price spread: −0.127% → −0.035%: −$9.24
Slippage, 4 orders: −$257.5
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$285.74
Costs to cover: 2.765%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Bybit: live order book, 3 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, 5 min ago	45.14 bp	123.2 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.12 bp	14.8 bp −$15	60.6 bp −$606	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
Coinbase International TSM-PERP-INTX	−0.0024%	1h	447.30	−0.056%	$359K	$100K	10x	as long as short
BloFin TSM-USDT	−0.0015%	8h	447.61	+0.013%	$45K	$100K	20x	as long as short
Aster TSMUSDT	0.0000%	8h	447.33	−0.048%	$82K	$1K	20x	as long as short
Extended TSM-USD	0.0000%	1h	447.32	−0.051%	$5K	$204K	10x	as long as short
Binance TSMUSDT	0.0000%	8h	447.30	−0.056%	$13.2M	$6.9M	20x	as long as short
Bybit TSMUSDTshort	0.0000%	8h	446.98	−0.127%	$2.0M	$413K	50x
OKX TSM-USDT-SWAP	0.0000%	8h	447.23	−0.072%	$4.0M	$3.0M	20x	as long as short
Gate TSM_USDT	0.0000%	8h	447.29	−0.058%	$1.7M	$930K	100x	as long as short
Variational Omni TSM	0.0000%	8h	447.45	−0.022%	$554K	$82K	—	as long as short
SunX TSM-USDTlong	0.0000%	8h	447.55	long leg	$2K	$4.9M	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TSM-USDT	0.0000%	8h	447.29	−0.058%	$9K	$9K	20x	as long as short
Phemex TSMUSDT	0.0000%	8h	447.48	−0.016%	$1.5M	$455K	10x	as long as short
Bitget TSMUSDT	+0.0010%	8h	447.37	−0.040%	$1.6M	$1.4M	20x	as long as short
Lighter RH TSM	+0.0032%	1h	447.27	−0.063%	$229K	$657K	10x	as long as short
Vest TSM-USD-PERP	+0.0046%	1h	447.21	−0.076%	—	—	25x	as long as short
tradeXYZ xyz:TSM	+0.0050%	1h	447.02	−0.118%	$10.3M	$2.3M	10x	as long as short
Polymarket Perps TSM-USD	+0.0050%	1h	447.22	−0.074%	$198K	$42K	10x	as long as short
SoDEX TSM-USD	+0.0050%	1h	447.04	−0.114%	$146	$3K	10x	as long as short
Ondo Perps TSM-USD.P	+0.0050%	1h	446.98	−0.127%	$158K	$22K	10x	as long as short
GRVT TSM_USDT_Perp	+0.0063%	8h	447.56	+0.003%	$13K	$1.1M	10x	as long as short
KuCoin TSMUSDTM	+0.0100%	8h	447.13	−0.094%	$271K	$314K	20x	as long as short
Orderly PERP_TSM_USDC_mythos	+0.0100%	8h	447.34	−0.047%	$21	—	10x	as long as short
Aevo TSM-PERP	+0.0104%	1h	447.37	−0.040%	$125	—	10x	as long as short
Phoenix TSM	+0.0179%	1h	447.34	−0.047%	$218K	$5K	10x	as long as short
edgeX TSMUSDC	+0.0217%	4h	447.45	−0.023%	$48K	$216K	10x	as long as short
Injective TSM/USDC PERP	+0.0220%	1h	452.09	+1.014%	$7K	$38K	12x	as long as short
Lighter TSM	+0.0312%	1h	447.92	+0.083%	$505K	$167K	10x	as long as short
Deribit TSM_USDC-PERPETUAL	+0.0578%	1h	447.28	−0.060%	$98	$32K	10x	as long as short