Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h +0.096%

Price spread now: Phoenix against Bybit+0.029%95s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs+$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.386% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.630%+$63 on $10k

Price spread, last 7 days+0.047%+$5 · spread now +0.029%, 7d avg +0.019%

Together, before fees+0.677%+$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. The two prices were read 95 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 TSLAUSDT	378.56	0	get 0.0000% / 8h	4h 49m	$10.2M	$14.3M	100x
Short	Phoenix TSLA	378.67	0.0296	get 0.0037% / 1h	49m 52s	$1.4M	$520K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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 BybitbpFee PhoenixbpOrdersPrice spread, now +0.029%Rate

Funding earned: $62.17
Price spread: +0.029% → +0.019%: $1.05
Slippage, 4 orders: −$20.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $24.63
Costs to cover: 0.386%
Break-even: 4.2 days

Slippage from Bybit: live order book, 1 min ago; Phoenix: live order book, 1 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 Bybit live order book, 1 min ago	1.06 bp	8.2 bp −$8	12.8 bp −$128	108.0 bp −$10.8K	doesn't fit
Sell Phoenix live order book, 1 min ago	3.16 bp	10.8 bp −$11	22.4 bp −$224	doesn't fit	doesn't fit

TSLA on 36 exchanges

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
Hotstuff TSLA-PERP	−0.1600%	1h	378.37	−0.050%	$34K	—	20x	as long as short
Injective TSLA/USDC PERP	−0.0220%	1h	377.60	−0.254%	$73K	$42K	30x	as long as short
edgeX TSLAUSDC	−0.0178%	4h	378.75	+0.051%	$401K	$1.1M	10x	as long as short
Bybit TSLAUSDTlong	0.0000%	8h	378.56	long leg	$10.2M	$14.3M	100x
OKX TSLA-USDT-SWAP	0.0000%	8h	378.55	−0.003%	$11.3M	$15.7M	25x	as long as short
Gate TSLA_USDT	0.0000%	8h	378.59	+0.008%	$2.3M	$3.1M	100x	as long as short
Bitget TSLAUSDT	0.0000%	8h	378.43	−0.034%	$17.4M	$24.9M	100x	as long as short
StandX TSLA-USD	0.0000%	1h	378.61	+0.013%	$201K	$999K	20x	as long as short
Deribit TSLA_USDC-PERPETUAL	0.0000%	1h	378.15	−0.108%	$18K	$187K	10x	as long as short
Phemex TSLAUSDT	0.0000%	4h	378.45	−0.029%	$1.1M	$15K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps TSLAUSD	+0.0023%	1h	378.49	−0.018%	$38K	$36K	10x	as long as short
Lighter TSLA	+0.0032%	1h	378.39	−0.045%	$814K	$3.0M	20x	as long as short
Lighter RH TSLA	+0.0032%	1h	378.33	−0.061%	$1.2M	$2.3M	20x	as long as short
Arcus TSLA-USD	+0.0040%	1h	378.76	+0.053%	$133K	$86K	10x	as long as short
QFEX TSLA-USD	+0.0042%	1h	378.78	+0.058%	$1.2M	$6.3M	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	378.84	+0.074%	—	$126K	25x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	378.25	−0.082%	$45.0M	$15.0M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	378.67	+0.029%	$302K	$138K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	378.47	−0.024%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	378.57	+0.003%	$1.6M	$1.2M	10x	as long as short
RISEx TSLA/USDC	+0.0074%	1h	378.88	+0.085%	$230K	$631K	20x	as long as short
Pacifica TSLA	+0.0100%	1h	378.73	+0.045%	$393K	$36K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	378.20	−0.095%	$1.4M	$4.5M	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	378.49	−0.018%	$4K	$61K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	378.48	−0.021%	$41K	$23K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	378.75	+0.051%	$750	—	10x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0112%	1h	378.28	−0.074%	$519K	$393K	10x	as long as short
Aster TSLAUSDT	+0.0119%	8h	378.67	+0.029%	$577K	$201K	50x	as long as short
Bullet TSLA-USD	+0.0123%	1h	379.00	+0.116%	$6K	$94K	10x	as long as short
Variational Omni TSLA	+0.0147%	8h	378.89	+0.088%	$1.7M	$1.5M	—	as long as short
Binance TSLAUSDT	+0.0174%	8h	378.52	−0.011%	$47.6M	$115.6M	25x	as long as short
Extended TSLA_24_5-USD	+0.0176%	1h	378.39	−0.045%	$483K	$2.7M	10x	as long as short
BloFin TSLA-USDT	+0.0188%	8h	378.87	+0.082%	$594K	$379K	20x	as long as short
Nado TSLA-PERP	+0.0204%	1h	378.67	+0.030%	$502K	$99K	20x	as long as short
Phoenix TSLAshort	+0.0296%	1h	378.67	+0.029%	$1.4M	$520K	20x
GRVT TSLA_USDT_Perp	+0.0387%	8h	378.76	+0.053%	$852K	$2.9M	10x	as long as short