Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0188%/8hnext payment −$0.24 per $10,000 · paid last 24h −0.029%

Price spread now: QFEX against Lighter−0.101%7-day average 0.000% · 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−$25as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Lighter Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.040%−$4 on $10k

Price spread, last 7 days+0.125%+$13 · spread now −0.101%, 7d avg 0.000%

Together, before fees+0.085%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and QFEX is 0.101% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.040% in total (about -4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TSLA	376.52	0.0232	pay 0.0029% / 1h	21m 35s	$1.1M	$3.9M	20x
Short	QFEX TSLA-USD	376.14	0.0044	get 0.0005% / 1h	21m 35s	$1.2M	$6.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Lighter. 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 LighterbpFee QFEXbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$39.58
Price spread: −0.101% → 0.000%: −$10.06
Slippage, 4 orders: −$5.01
Fee Lighter: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$64.64
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from Lighter: live order book, 10 min ago; QFEX: live order book, 11 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 Lighter live order book, 10 min ago	0.53 bp	0.6 bp −$1	1.9 bp −$19	22.2 bp −$2,219	doesn't fit
Sell QFEX live order book, 11 min ago	1.86 bp	6.9 bp −$7	7.3 bp −$73	10.4 bp −$1,041	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	−0.0724%	4h	376.68	+0.044%	$397K	$990K	10x	as long as short
BloFin TSLA-USDT	−0.0027%	8h	376.59	+0.019%	$540K	$334K	20x	as long as short
Hotstuff TSLA-PERP	−0.0024%	1h	376.08	−0.117%	$34K	—	20x	as long as short
Aster TSLAUSDT	0.0000%	8h	376.14	−0.101%	$596K	$179K	50x	as long as short
Extended TSLA_24_5-USD	0.0000%	1h	376.20	−0.084%	$450K	$10.6M	10x	as long as short
Binance TSLAUSDT	0.0000%	8h	376.20	−0.085%	$47.2M	$105.7M	25x	as long as short
Bybit TSLAUSDT	0.0000%	8h	376.34	−0.048%	$10.3M	$15.3M	100x	as long as short
OKX TSLA-USDT-SWAP	0.0000%	8h	376.18	−0.090%	$11.4M	$16.0M	25x	as long as short
Gate TSLA_USDT	0.0000%	8h	376.22	−0.080%	$2.3M	$4.1M	100x	as long as short
Bitget TSLAUSDT	0.0000%	8h	376.19	−0.088%	$16.7M	$21.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TSLA	0.0000%	8h	376.24	−0.074%	$1.7M	$1.1M	—	as long as short
StandX TSLA-USD	0.0000%	1h	376.53	+0.003%	$200K	$874K	20x	as long as short
Deribit TSLA_USDC-PERPETUAL	0.0000%	1h	376.33	−0.050%	$20K	$184K	10x	as long as short
Phemex TSLAUSDT	0.0000%	4h	376.45	−0.019%	$1.1M	$13K	10x	as long as short
Lighter RH TSLA	+0.0032%	1h	376.38	−0.037%	$1.3M	$2.5M	20x	as long as short
QFEX TSLA-USDshort	+0.0044%	1h	376.14	−0.101%	$1.2M	$6.8M	10x
Vest TSLA-USD-PERP	+0.0046%	1h	376.54	+0.005%	—	$133K	25x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	376.22	−0.080%	$44.0M	$13.9M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	376.30	−0.058%	$297K	$283K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	376.45	−0.019%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	375.90	−0.165%	$1.6M	$916K	10x	as long as short
RISEx TSLA/USDC	+0.0067%	1h	376.31	−0.054%	$178K	$512K	20x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0072%	1h	376.55	+0.008%	$538K	$281K	10x	as long as short
Nado TSLA-PERP	+0.0075%	1h	376.26	−0.070%	$487K	$88K	20x	as long as short
Bullet TSLA-USD	+0.0084%	1h	376.47	−0.013%	$6K	$90K	10x	as long as short
Pacifica TSLA	+0.0100%	1h	376.22	−0.080%	$390K	$26K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	376.17	−0.093%	$1.4M	$147K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	376.43	−0.024%	$4K	$61K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	376.56	+0.011%	$41K	$20K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	376.46	−0.017%	$745	—	10x	as long as short
Aftermath Perps TSLAUSD	+0.0113%	1h	376.16	−0.096%	$38K	$51K	10x	as long as short
GRVT TSLA_USDT_Perp	+0.0206%	8h	376.86	+0.090%	$845K	$3.1M	10x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	376.76	+0.064%	$78K	$36K	30x	as long as short
Lighter TSLAlong	+0.0232%	1h	376.52	long leg	$1.1M	$3.9M	20x
Phoenix TSLA	+0.0298%	1h	377.00	+0.127%	$1.3M	$213K	20x	as long as short
Arcus TSLA-USD	+0.0364%	1h	376.10	−0.112%	$154K	$85K	10x	as long as short