Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0255%/8h= −27.9% APRpaid last 24h −0.104%

Price spread now: Phemex against Phoenix+0.027%73s7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as 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−$840.836% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.660%−$66 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.027%, 7d avg −0.036%

Together, before fees−0.724%−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.063% dearer against Phoenix than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.036%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 20 hours. The two prices were read 73 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	Phoenix TSLA	377.28	0.0255	pay 0.0032% / 1h	58m 08s	$1.3M	$539K	20x
Short	Phemex TSLAUSDT	377.38	0	get 0.0000% / 4h	1h 58m	$1.1M	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$53.47
Price spread: +0.027% → −0.036%: $6.25
Slippage, 4 orders: −$64.59
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$130.81
Costs to cover: 0.836%
Break-even: never at this rate

Slippage from Phoenix: live order book, 5 min ago; Phemex: live order book, 4 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, 5 min ago	2.65 bp	9.6 bp −$10	19.0 bp −$190	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.86 bp	29.0 bp −$29	doesn't fit	doesn't fit	doesn't fit

TSLA on 35 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	−0.0179%	4h	377.21	−0.018%	$398K	$1.0M	10x	as long as short
Aster TSLAUSDT	0.0000%	8h	377.41	+0.035%	$578K	$196K	50x	as long as short
Extended TSLA_24_5-USD	0.0000%	1h	377.28	+0.001%	$479K	$8.3M	10x	as long as short
Binance TSLAUSDT	0.0000%	8h	377.37	+0.024%	$47.4M	$110.5M	25x	as long as short
Bybit TSLAUSDT	0.0000%	8h	377.44	+0.042%	$10.3M	$15.5M	100x	as long as short
OKX TSLA-USDT-SWAP	0.0000%	8h	377.34	+0.016%	$11.2M	$16.8M	25x	as long as short
RISEx TSLA/USDC	0.0000%	1h	377.37	+0.024%	$290K	$599K	20x	as long as short
Bitget TSLAUSDT	0.0000%	8h	377.27	−0.003%	$17.0M	$22.9M	100x	as long as short
Variational Omni TSLA	0.0000%	8h	377.25	−0.008%	$1.9M	$1.4M	—	as long as short
GRVT TSLA_USDT_Perp	0.0000%	8h	377.27	−0.003%	$852K	$2.8M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX TSLA-USD	0.0000%	1h	377.21	−0.019%	$200K	$908K	20x	as long as short
Deribit TSLA_USDC-PERPETUAL	0.0000%	1h	377.20	−0.021%	$20K	$187K	10x	as long as short
Coinbase International TSLA-PERP-INTX	0.0000%	1h	377.33	+0.013%	$513K	$328K	10x	as long as short
Phemex TSLAUSDTshort	0.0000%	4h	377.38	+0.027%	$1.1M	$15K	10x
Aftermath Perps TSLAUSD	+0.0008%	1h	377.21	−0.019%	$38K	$44K	10x	as long as short
QFEX TSLA-USD	+0.0023%	1h	377.29	+0.003%	$1.2M	$6.6M	10x	as long as short
Lighter TSLA	+0.0032%	1h	377.33	+0.013%	$824K	$3.5M	20x	as long as short
Lighter RH TSLA	+0.0032%	1h	377.37	+0.024%	$1.2M	$2.6M	20x	as long as short
Bullet TSLA-USD	+0.0040%	1h	377.39	+0.030%	$5K	$92K	10x	as long as short
Arcus TSLA-USD	+0.0040%	1h	377.17	−0.029%	$161K	$95K	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	377.35	+0.019%	—	$130K	25x	as long as short
Hotstuff TSLA-PERP	+0.0048%	1h	376.92	−0.095%	$34K	—	20x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	377.06	−0.058%	$44.3M	$14.2M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	377.20	−0.021%	$301K	$310K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	377.32	+0.011%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	377.08	−0.053%	$1.5M	$1.1M	10x	as long as short
Gate TSLA_USDT	+0.0078%	8h	377.36	+0.021%	$2.3M	$3.7M	100x	as long as short
Nado TSLA-PERP	+0.0083%	1h	377.18	−0.026%	$490K	$112K	20x	as long as short
Pacifica TSLA	+0.0100%	1h	377.21	−0.019%	$391K	$37K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	377.27	−0.003%	$1.5M	$105K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	377.17	−0.029%	$4K	$61K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	377.20	−0.021%	$41K	$22K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	377.26	−0.005%	$747	—	10x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	377.91	+0.167%	$79K	$36K	30x	as long as short
Phoenix TSLAlong	+0.0255%	1h	377.28	long leg	$1.3M	$539K	20x