Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Aevo−0.055%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1221.216% of the position

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.055%, 7d avg −0.030%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.025% cheaper against Aevo than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	307.56	0.0104	pay 0.0013% / 1h	31m 08s	$169K	$998	3x
Short	BingX TAO-USDT	307.39	0.0100	get 0.0050% / 4h	2h 31m	—	$30.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aevo. 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 AevobpFee BingXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$0.84
Price spread: −0.055% → −0.030%: −$2.52
Slippage, 4 orders: −$95.64
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$125.01
Costs to cover: 1.216%
Break-even: never at this rate

Slippage from Aevo: live order book, 57 min ago; BingX: live order book, 3 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 Aevo live order book, 57 min ago	38.01 bp	54.0 bp −$54	312.1 bp −$3,121	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.65 bp	8.6 bp −$9	12.6 bp −$126	22.1 bp −$2,213	55.0 bp −$27.5K

TAO on 43 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
dYdX TAO-USD	0.0000%	1h	307.10	−0.150%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.27	−0.096%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0058%	1h	307.45	−0.035%	$14K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.23	−0.107%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.38	−0.059%	$363K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.36	−0.066%	$86.0M	$402.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.69	+0.042%	$59.2M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.60	+0.013%	$25.1M	$92.8M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.44	−0.039%	$136K	$594K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.159%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.50	−0.020%	$12.1M	$47.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.31	−0.081%	$113.6M	$122.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.38	−0.059%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.46	−0.033%	$34.5M	$44.4M	50x	as long as short
BingX TAO-USDTshort	+0.0100%	4h	307.39	−0.055%	—	$30.4M	—
Variational Omni TAO	+0.0100%	4h	305.77	−0.582%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	−0.058%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	−0.084%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.14	−0.137%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.41	−0.048%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.32	−0.078%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.25	−0.101%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.35	−0.068%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.26	−0.098%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	307.56	long leg	$169K	$998	3x
Katana Perps TAO-USD	+0.0112%	8h	307.39	−0.055%	$2K	$430K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	307.56	0.000%	$86K	$669K	5x	as long as short
Aster TAOUSDT	+0.0163%	4h	307.62	+0.020%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	307.35	−0.069%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.21	−0.113%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.241%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	−0.046%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.28	−0.091%	$4.2M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.53	−0.010%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.41	−0.049%	$354	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.34	−0.073%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0936%	1h	307.85	+0.094%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.45	+0.289%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.61	+0.017%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.36	−0.065%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1309%	1h	308.02	+0.150%	$471K	$681K	10x	as long as short
Hyperliquid TAO	+0.1687%	1h	308.29	+0.237%	$94.1M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.345%	$22K	$138	12x	as long as short