Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.002%

Price spread now: HTX against Aevo−0.029%7-day average −0.144% · you buy dearer than you sell

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2802.801% of the position

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.029%, 7d avg −0.144%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.114% dearer against Aevo than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.144%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	324.43	0.0120	pay 0.0015% / 1h	59m 59s	$178K	$998	3x
Short	HTX TAO-USDT	324.34	0.0100	get 0.0050% / 4h	2h 59m	$117K	$552K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$4.2
Price spread: −0.029% → −0.144%: $11.45
Slippage, 4 orders: −$252.06
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$272.81
Costs to cover: 2.801%
Break-even: never at this rate

Slippage from Aevo: live order book, 29 min ago; HTX: live order book, 34 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, 29 min ago	52.50 bp	88.1 bp −$88	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 34 min ago	16.57 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit

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
Bulk TAO-USD	−0.0241%	1h	318.85	−1.723%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	−0.070%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.32	−0.035%	$52K	$703K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	324.18	−0.079%	$71.4M	$154.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.90	−0.165%	$27.1M	$131.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.90	−0.165%	$15.5M	$51.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.35	−0.026%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.92	−0.159%	$36.6M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.28	−0.048%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	324.04	−0.122%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDTshort	+0.0100%	4h	324.34	−0.029%	$117K	$552K	20x
Phemex TAOUSDT	+0.0100%	4h	324.09	−0.106%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	323.95	−0.149%	$663	$1.2M	5x	as long as short
Aevo TAO-PERPlong	+0.0120%	1h	324.43	long leg	$178K	$998	3x
MEXC TAO_USDT	+0.0158%	4h	324.33	−0.032%	$106.3M	$156.7M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	324.20	−0.072%	$94.9M	$519.6M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	324.06	−0.116%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.844%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0222%	8h	324.21	−0.069%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0245%	4h	324.46	+0.008%	$55K	$272K	10x	as long as short
Extended TAO-USD	+0.0280%	1h	324.24	−0.059%	$979K	$2.2M	25x	as long as short
Bullet TAO-USD	+0.0284%	1h	324.64	+0.062%	$13K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.899%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.874%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	324.28	−0.049%	$1.3M	$11.2M	50x	as long as short
Pacifica TAO	+0.0349%	1h	324.28	−0.047%	$377K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	−0.418%	$383K	—	100x	as long as short
Nado TAO-PERP	+0.0394%	1h	324.16	−0.086%	$737K	$2.0M	10x	as long as short
BloFin TAO-USDT	+0.0399%	4h	323.57	−0.267%	$4.8M	$11.0M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	324.62	+0.057%	$102K	$329K	5x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	−0.206%	$5.7M	$9.8M	—	as long as short
dYdX TAO-USD	+0.0564%	1h	324.07	−0.111%	$273K	$232K	5x	as long as short
Lighter TAO	+0.0568%	1h	324.40	−0.009%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	324.30	−0.042%	$326K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	324.84	+0.125%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	323.36	−0.331%	$372	—	20x	as long as short
Hyperliquid TAO	+0.0699%	1h	324.52	+0.025%	$98.0M	$109.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0713%	1h	324.35	−0.026%	$302K	$1.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0737%	1h	324.40	−0.011%	$20K	$1.9M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0767%	1h	324.32	−0.036%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	324.20	−0.073%	$443K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.68	+0.076%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	−0.559%	$23K	$2K	12x	as long as short