Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0362%/8h= −39.7% APRpaid last 24h −0.100%

Price spread now: Bybit against Phoenix+0.106%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.664%−$66 on $10k

Price spread, last 7 days−0.183%−$18 · spread now +0.106%, 7d avg −0.024%

Together, before fees−0.847%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.130% dearer against Phoenix than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of −0.024%): +$13 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TSLA	375.76	0.0362	pay 0.0045% / 1h	57m 15s	$1.3M	$547K	20x
Short	Bybit TSLAUSDT	376.16	0	get 0.0000% / 8h	7h 57m	$10.1M	$15.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phoenix. 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 PhoenixbpFee BybitbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$76.1
Price spread: +0.106% → −0.024%: $13.01
Slippage, 4 orders: −$19.19
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$100.28
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Phoenix: live order book, 1 min ago; Bybit: 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 Phoenix live order book, 1 min ago	3.46 bp	11.0 bp −$11	23.0 bp −$230	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.27 bp	7.2 bp −$7	15.0 bp −$150	doesn't fit	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
edgeX TSLAUSDC	−0.0204%	4h	375.55	−0.056%	$397K	$1.0M	10x	as long as short
Aster TSLAUSDT	0.0000%	8h	375.94	+0.047%	$585K	$191K	50x	as long as short
Extended TSLA_24_5-USD	0.0000%	1h	375.96	+0.053%	$478K	$10.7M	10x	as long as short
Binance TSLAUSDT	0.0000%	8h	376.05	+0.078%	$46.9M	$110.0M	25x	as long as short
Bybit TSLAUSDTshort	0.0000%	8h	376.16	+0.106%	$10.1M	$15.4M	100x
OKX TSLA-USDT-SWAP	0.0000%	8h	376.02	+0.069%	$11.2M	$16.7M	25x	as long as short
Gate TSLA_USDT	0.0000%	8h	375.95	+0.051%	$2.3M	$3.9M	100x	as long as short
Bitget TSLAUSDT	0.0000%	8h	375.85	+0.024%	$16.7M	$22.6M	100x	as long as short
Variational Omni TSLA	0.0000%	8h	375.62	−0.036%	$1.9M	$1.3M	—	as long as short
StandX TSLA-USD	0.0000%	1h	375.93	+0.045%	$199K	$895K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TSLA_USDC-PERPETUAL	0.0000%	1h	375.91	+0.040%	$20K	$188K	10x	as long as short
Phemex TSLAUSDT	0.0000%	4h	376.04	+0.075%	$1.1M	$13K	10x	as long as short
Aftermath Perps TSLAUSD	+0.0010%	1h	375.58	−0.048%	$38K	$47K	10x	as long as short
BloFin TSLA-USDT	+0.0020%	8h	376.12	+0.096%	$569K	$341K	20x	as long as short
QFEX TSLA-USD	+0.0028%	1h	375.89	+0.035%	$1.2M	$7.2M	10x	as long as short
Lighter TSLA	+0.0032%	1h	375.96	+0.053%	$653K	$3.3M	20x	as long as short
Lighter RH TSLA	+0.0032%	1h	376.08	+0.085%	$1.2M	$2.5M	20x	as long as short
Arcus TSLA-USD	+0.0040%	1h	375.65	−0.029%	$165K	$91K	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	375.90	+0.037%	—	$133K	25x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0048%	1h	375.11	−0.173%	$529K	$326K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	375.51	−0.067%	$1.6M	$1.0M	10x	as long as short
RISEx TSLA/USDC	+0.0079%	1h	376.04	+0.075%	$291K	$597K	20x	as long as short
Pacifica TSLA	+0.0100%	1h	375.57	−0.051%	$389K	$38K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	375.81	+0.013%	$1.5M	$159K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	375.64	−0.032%	$4K	$62K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	375.99	+0.061%	$41K	$21K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	375.75	−0.003%	$744	—	10x	as long as short
Polymarket Perps TSLA-USD	+0.0106%	1h	375.51	−0.067%	$297K	$308K	10x	as long as short
Nado TSLA-PERP	+0.0111%	1h	376.01	+0.067%	$491K	$111K	20x	as long as short
GRVT TSLA_USDT_Perp	+0.0140%	8h	375.77	+0.003%	$849K	$2.7M	10x	as long as short
SoDEX TSLA-USD	+0.0186%	1h	375.96	+0.053%	$4K	$3K	10x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	376.72	+0.255%	$78K	$36K	30x	as long as short
Hotstuff TSLA-PERP	+0.0280%	1h	375.49	−0.072%	$34K	—	20x	as long as short
tradeXYZ xyz:TSLA	+0.0289%	1h	375.52	−0.064%	$44.2M	$14.7M	20x	as long as short
Phoenix TSLAlong	+0.0362%	1h	375.76	long leg	$1.3M	$547K	20x
Bullet TSLA-USD	+0.0483%	1h	376.03	+0.072%	$5K	$91K	10x	as long as short