Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.013%

Price spread now: Deribit against Phemex−0.093%7-day average −0.022% · 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−$87as in the Price arb table

costs, in and out, $10k−$790.795% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.198%+$20 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.093%, 7d avg −0.022%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.071% cheaper against Phemex than usual: you would sell low and buy high (spread −0.093% now, against its 7-day average of −0.022%). If the spread goes back, that is −$7 on $10k: about 5.6 days of funding at the current rate (+$1 a day). At the pace of the last 5 days (+0.198% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TSLAUSDT	376.50	0	get 0.0000% / 4h	3h 43m	$1.1M	$14K	10x
Short	Deribit TSLA_USDC-PERPETUAL	376.15	0.0043	get 0.0005% / 1h	43m 54s	$20K	$189K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.093%Rate

Funding earned: $8.93
Price spread: −0.093% → −0.022%: −$7.12
Slippage, 4 orders: −$60.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$77.69
Costs to cover: 0.795%
Break-even: 67.9 days

Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 10 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, 4 min ago	1.73 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 10 min ago	0.13 bp	3.6 bp −$4	4.9 bp −$49	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	−0.0441%	4h	376.30	−0.052%	$398K	$1.0M	10x	as long as short
BloFin TSLA-USDT	−0.0016%	8h	376.32	−0.048%	$576K	$352K	20x	as long as short
Aster TSLAUSDT	0.0000%	8h	376.39	−0.029%	$576K	$195K	50x	as long as short
Extended TSLA_24_5-USD	0.0000%	1h	376.20	−0.080%	$480K	$2.7M	10x	as long as short
Binance TSLAUSDT	0.0000%	8h	376.31	−0.051%	$47.3M	$111.1M	25x	as long as short
Bybit TSLAUSDT	0.0000%	8h	376.35	−0.040%	$10.3M	$15.4M	100x	as long as short
OKX TSLA-USDT-SWAP	0.0000%	8h	376.21	−0.077%	$11.2M	$16.8M	25x	as long as short
RISEx TSLA/USDC	0.0000%	1h	376.31	−0.052%	$290K	$582K	20x	as long as short
Bitget TSLAUSDT	0.0000%	8h	376.24	−0.069%	$17.0M	$22.5M	100x	as long as short
Variational Omni TSLA	0.0000%	8h	376.34	−0.043%	$1.9M	$1.3M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX TSLA-USD	0.0000%	1h	376.40	−0.027%	$200K	$899K	20x	as long as short
Phemex TSLAUSDTlong	0.0000%	4h	376.50	long leg	$1.1M	$14K	10x
Aftermath Perps TSLAUSD	+0.0022%	1h	375.96	−0.143%	$38K	$41K	10x	as long as short
Lighter TSLA	+0.0032%	1h	376.25	−0.066%	$818K	$3.6M	20x	as long as short
Lighter RH TSLA	+0.0032%	1h	376.26	−0.064%	$1.2M	$2.5M	20x	as long as short
QFEX TSLA-USD	+0.0033%	1h	376.25	−0.066%	$1.2M	$6.5M	10x	as long as short
Gate TSLA_USDT	+0.0036%	8h	376.31	−0.050%	$2.3M	$3.5M	100x	as long as short
Arcus TSLA-USD	+0.0040%	1h	376.04	−0.122%	$133K	$106K	10x	as long as short
Deribit TSLA_USDC-PERPETUALshort	+0.0043%	1h	376.15	−0.093%	$20K	$189K	10x
Vest TSLA-USD-PERP	+0.0046%	1h	376.23	−0.072%	—	$129K	25x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	375.99	−0.135%	$44.4M	$14.6M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	376.08	−0.112%	$300K	$309K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	376.20	−0.080%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	376.12	−0.101%	$1.6M	$1.1M	10x	as long as short
GRVT TSLA_USDT_Perp	+0.0058%	8h	376.13	−0.099%	$850K	$2.8M	10x	as long as short
Bullet TSLA-USD	+0.0080%	1h	376.29	−0.056%	$5K	$90K	10x	as long as short
Hotstuff TSLA-PERP	+0.0080%	1h	375.97	−0.141%	$34K	—	20x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0080%	1h	376.45	−0.013%	$512K	$330K	10x	as long as short
Pacifica TSLA	+0.0100%	1h	376.06	−0.116%	$390K	$38K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	376.17	−0.088%	$1.5M	$105K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	376.12	−0.101%	$4K	$62K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	376.07	−0.114%	$41K	$23K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	376.19	−0.082%	$745	—	10x	as long as short
Nado TSLA-PERP	+0.0200%	1h	376.10	−0.105%	$489K	$112K	20x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	377.31	+0.215%	$78K	$36K	30x	as long as short
Phoenix TSLA	+0.0276%	1h	376.38	−0.032%	$1.3M	$540K	20x	as long as short