Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0491%/8h= +53.8% APRpaid last 24h −0.001%

Price spread now: Phemex against Aevo−0.018%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$413as in the Funding arb table

Net, price: spread back to 7d avg − costs−$364as in the Price arb table

costs, in and out, $10k−$3653.651% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.476%−$48 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.018%, 7d avg −0.030%

Together, before fees−0.447%−$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.476%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	311.71	0.0104	pay 0.0013% / 1h	54m 56s	$171K	$998	3x
Short	Phemex TAOUSDT	311.65	0.0595	get 0.0298% / 4h	2h 54m	$3.1M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.018%Rate

Funding earned: $103.11
Price spread: −0.018% → −0.030%: $1.27
Slippage, 4 orders: −$337.1
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$260.71
Costs to cover: 3.651%
Break-even: 24.7 days

Slippage from Aevo: live order book, 59 min ago; Phemex: live order book, 4 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, 59 min ago	76.45 bp	94.2 bp −$94	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	9.45 bp	23.6 bp −$24	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
dYdX TAO-USD	0.0000%	1h	311.52	−0.060%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.22	−0.155%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.37	−0.107%	$761	$869K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.55	−0.050%	$89.0M	$504.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.40	−0.098%	$26.1M	$121.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.130%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.69	−0.005%	$103.7M	$144.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.67	−0.011%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.39	−0.101%	$35.0M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.84	+0.364%	$41K	$313K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	311.25	−0.146%	$81K	$907K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.48	−0.072%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.32	−0.444%	$110K	$545K	20x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	311.71	long leg	$171K	$998	3x
Orderly PERP_TAO_USDC	+0.0118%	4h	311.57	−0.043%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0136%	1h	311.22	−0.154%	$417K	—	100x	as long as short
Aster TAOUSDT	+0.0133%	4h	311.63	−0.024%	$1.3M	$10.5M	50x	as long as short
Popdex TAOUSDT	+0.0176%	1h	311.50	−0.066%	$48K	$662K	20x	as long as short
Paradex TAO-USD-PERP	+0.0201%	8h	311.64	−0.021%	$14K	$1K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.449%	$532K	$942K	10x	as long as short
Pacifica TAO	+0.0233%	1h	311.85	+0.048%	$355K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	+0.059%	$166K	$333	10x	as long as short
Bullet TAO-USD	+0.0304%	1h	311.54	−0.053%	$12K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0306%	1h	311.65	−0.019%	$5.5M	$20.7M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.87	+0.053%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0348%	4h	311.52	−0.059%	—	$33.7M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0351%	1h	311.53	−0.055%	$11K	$1.8M	25x	as long as short
Bybit TAOUSDT	+0.0353%	4h	311.58	−0.040%	$67.4M	$151.1M	50x	as long as short
Extended TAO-USD	+0.0360%	1h	311.57	−0.043%	$904K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.387%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0398%	1h	311.45	−0.083%	$775K	$2.2M	10x	as long as short
Phoenix TAO	+0.0457%	1h	312.80	+0.351%	$311K	$713K	5x	as long as short
Arcus TAO-USD	+0.0483%	1h	311.90	+0.063%	$100K	$370K	5x	as long as short
Phemex TAOUSDTshort	+0.0595%	4h	311.65	−0.018%	$3.1M	$8.0M	50x
Hyperliquid TAO	+0.0658%	1h	311.93	+0.072%	$91.3M	$108.4M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.53	−0.057%	$358	—	20x	as long as short
Lighter TAO	+0.0760%	1h	311.92	+0.068%	$1.5M	$6.5M	5x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	311.56	−0.047%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	311.82	+0.037%	$310K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	312.88	+0.377%	$1.5M	$6.7M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	311.52	−0.059%	$445K	$650K	5x	as long as short
ApeX Omni TAOUSDT	+0.1940%	1h	312.51	+0.258%	$46K	$254K	50x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	315.73	+1.291%	$23K	$2K	12x	as long as short