Add the water to the Instant Pot. Mix in the honey and baking soda (optional) until it is dissolved.
Remove the tags from the tea bags, tie all the strings together to make it easier to remove the tea bags later.
Add the lid and turn the pressure valve to sealing. Cook on high pressure using the manual function for 4 minutes. When done release the pressure using a controlled quick release. Let tea cool to remove temperature then pour into a pitcher to store in the refrigerator.
To serve pour over ice with lemon slices, lime slices, and basil leaves. If you like a sweeter tea, you can add more honey to your glass.