Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.014%

Price spread now: Phemex against RISEx−0.045%7-day average −0.018% · 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−$81as in the Price arb table

costs, in and out, $10k−$790.786% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.045%, 7d avg −0.018%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.027% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.025% in total (about -2.4% a year). A funding rate is set anew for every payment. 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	RISEx TSLA/USDC	376.83	0.0257	pay 0.0032% / 1h	32m 50s	$215K	$651K	20x
Short	Phemex TSLAUSDT	376.66	0	get 0.0000% / 4h	32m 50s	$1.1M	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against RISEx. 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 RISExbpFee PhemexbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$54
Price spread: −0.045% → −0.018%: −$2.71
Slippage, 4 orders: −$60.6
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$135.31
Costs to cover: 0.786%
Break-even: never at this rate

Slippage from RISEx: live order book, 6 min ago; Phemex: live order book, 5 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 RISEx live order book, 6 min ago	1.86 bp	4.9 bp −$5	5.2 bp −$52	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.99 bp	33.3 bp −$33	doesn't fit	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	−0.0608%	4h	376.65	−0.049%	$398K	$1.0M	10x	as long as short
Bybit TSLAUSDT	0.0000%	8h	376.73	−0.027%	$10.2M	$15.3M	100x	as long as short
OKX TSLA-USDT-SWAP	0.0000%	8h	376.67	−0.042%	$11.2M	$16.8M	25x	as long as short
Gate TSLA_USDT	0.0000%	8h	376.69	−0.037%	$2.3M	$3.5M	100x	as long as short
Bitget TSLAUSDT	0.0000%	8h	376.64	−0.050%	$17.2M	$22.8M	100x	as long as short
StandX TSLA-USD	0.0000%	1h	376.40	−0.114%	$200K	$922K	20x	as long as short
Phemex TSLAUSDTshort	0.0000%	4h	376.66	−0.045%	$1.1M	$14K	10x
Aster TSLAUSDT	+0.0002%	8h	376.45	−0.100%	$575K	$200K	50x	as long as short
Hotstuff TSLA-PERP	+0.0024%	1h	376.48	−0.093%	$34K	—	20x	as long as short
Aftermath Perps TSLAUSD	+0.0031%	1h	376.49	−0.091%	$38K	$37K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH TSLA	+0.0032%	1h	376.61	−0.058%	$1.3M	$2.5M	20x	as long as short
Variational Omni TSLA	+0.0036%	8h	376.58	−0.066%	$1.9M	$1.3M	—	as long as short
Arcus TSLA-USD	+0.0040%	1h	376.50	−0.088%	$135K	$108K	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	376.64	−0.050%	—	$119K	25x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	376.49	−0.090%	$44.7M	$14.9M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	376.54	−0.077%	$301K	$304K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	376.61	−0.058%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	376.27	−0.149%	$1.6M	$1.1M	10x	as long as short
QFEX TSLA-USD	+0.0067%	1h	376.67	−0.042%	$1.2M	$6.2M	10x	as long as short
Binance TSLAUSDT	+0.0068%	8h	376.72	−0.030%	$47.1M	$113.5M	25x	as long as short
Extended TSLA_24_5-USD	+0.0072%	1h	376.63	−0.053%	$483K	$2.7M	10x	as long as short
BloFin TSLA-USDT	+0.0078%	8h	376.75	−0.021%	$578K	$355K	20x	as long as short
Pacifica TSLA	+0.0100%	1h	376.55	−0.074%	$390K	$37K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	376.44	−0.103%	$1.5M	$550K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	376.36	−0.125%	$4K	$61K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	376.45	−0.101%	$41K	$23K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	376.68	−0.040%	$746	—	10x	as long as short
Lighter TSLA	+0.0160%	1h	376.67	−0.042%	$823K	$3.7M	20x	as long as short
Coinbase International TSLA-PERP-INTX	+0.0176%	1h	375.69	−0.303%	$505K	$350K	10x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	379.80	+0.788%	$79K	$36K	30x	as long as short
RISEx TSLA/USDClong	+0.0257%	1h	376.83	long leg	$215K	$651K	20x
Bullet TSLA-USD	+0.0264%	1h	376.75	−0.021%	$6K	$90K	10x	as long as short
Nado TSLA-PERP	+0.0278%	1h	376.48	−0.092%	$489K	$111K	20x	as long as short
GRVT TSLA_USDT_Perp	+0.0282%	8h	376.82	−0.002%	$851K	$2.8M	10x	as long as short
Phoenix TSLA	+0.0404%	1h	376.80	−0.008%	$1.3M	$525K	20x	as long as short
Deribit TSLA_USDC-PERPETUAL	+0.0414%	1h	376.68	−0.040%	$18K	$195K	10x	as long as short