Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.013%

Price spread now: QFEX against Phemex−0.051%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$780.784% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.051%, 7d avg −0.015%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.036% cheaper against Phemex than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.015%). If the spread goes back, that is −$4 on $10k: about 2.5 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.023% in total) that is about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TSLAUSDT	375.11	0	get 0.0000% / 4h	3h 25m	$1.1M	$15K	10x
Short	QFEX TSLA-USD	374.92	0.0048	get 0.0006% / 1h	25m 14s	$1.2M	$6.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phemex. 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 PhemexbpFee QFEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $10.05
Price spread: −0.051% → −0.015%: −$3.6
Slippage, 4 orders: −$56.4
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$71.95
Costs to cover: 0.784%
Break-even: 57.1 days

Slippage from Phemex: live order book, 2 min ago; QFEX: live order book, 9 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 Phemex live order book, 2 min ago	0.53 bp	32.8 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.47 bp	6.5 bp −$6	6.5 bp −$65	10.8 bp −$1,079	doesn't fit

TSLA on 36 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
Hotstuff TSLA-PERP	−0.1600%	1h	374.62	−0.131%	$34K	—	20x	as long as short
edgeX TSLAUSDC	−0.0332%	4h	374.72	−0.103%	$395K	$1.1M	10x	as long as short
Aster TSLAUSDT	0.0000%	8h	375.05	−0.017%	$572K	$200K	50x	as long as short
Bybit TSLAUSDT	0.0000%	8h	374.96	−0.040%	$10.1M	$15.3M	100x	as long as short
OKX TSLA-USDT-SWAP	0.0000%	8h	374.93	−0.048%	$11.2M	$16.8M	25x	as long as short
Gate TSLA_USDT	0.0000%	8h	374.99	−0.032%	$2.3M	$3.3M	100x	as long as short
Bitget TSLAUSDT	0.0000%	8h	374.99	−0.032%	$17.2M	$23.3M	100x	as long as short
GRVT TSLA_USDT_Perp	0.0000%	8h	375.04	−0.019%	$844K	$2.9M	10x	as long as short
StandX TSLA-USD	0.0000%	1h	374.98	−0.035%	$199K	$946K	20x	as long as short
Phemex TSLAUSDTlong	0.0000%	4h	375.11	long leg	$1.1M	$15K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TSLA_USDC-PERPETUAL	+0.0017%	1h	374.90	−0.056%	$18K	$191K	10x	as long as short
BloFin TSLA-USDT	+0.0021%	8h	375.12	+0.003%	$582K	$359K	20x	as long as short
Variational Omni TSLA	+0.0023%	8h	374.78	−0.087%	$1.7M	$1.4M	—	as long as short
Aftermath Perps TSLAUSD	+0.0029%	1h	374.73	−0.103%	$38K	$36K	10x	as long as short
Lighter TSLA	+0.0032%	1h	374.97	−0.037%	$803K	$3.7M	20x	as long as short
Lighter RH TSLA	+0.0032%	1h	374.97	−0.037%	$1.2M	$2.5M	20x	as long as short
Arcus TSLA-USD	+0.0040%	1h	374.85	−0.069%	$134K	$106K	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	374.95	−0.043%	—	$126K	25x	as long as short
Binance TSLAUSDT	+0.0048%	8h	375.04	−0.018%	$47.0M	$115.1M	25x	as long as short
QFEX TSLA-USDshort	+0.0048%	1h	374.92	−0.051%	$1.2M	$6.2M	10x
Extended TSLA_24_5-USD	+0.0048%	1h	374.93	−0.048%	$478K	$2.7M	10x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	374.72	−0.104%	$44.4M	$14.8M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	374.71	−0.107%	$299K	$161K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	374.95	−0.043%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	374.60	−0.136%	$1.5M	$1.1M	10x	as long as short
Bullet TSLA-USD	+0.0084%	1h	375.04	−0.020%	$6K	$92K	10x	as long as short
Pacifica TSLA	+0.0100%	1h	374.64	−0.124%	$388K	$36K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	374.76	−0.093%	$1.5M	$2.4M	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	374.77	−0.091%	$4K	$62K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	374.80	−0.083%	$41K	$23K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	374.97	−0.037%	$742	—	10x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0160%	1h	374.47	−0.171%	$507K	$363K	10x	as long as short
Nado TSLA-PERP	+0.0175%	1h	374.71	−0.106%	$497K	$117K	20x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	379.64	+1.208%	$79K	$37K	30x	as long as short
RISEx TSLA/USDC	+0.0290%	1h	374.93	−0.047%	$214K	$655K	20x	as long as short
Phoenix TSLA	+0.0404%	1h	374.80	−0.083%	$1.3M	$507K	20x	as long as short