Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h −0.004%

Price spread now: BingX against ApeX Omni+0.576%98s7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.402% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−1.110%−$111 · spread now +0.576%, 7d avg −0.039%

Together, before fees−1.105%−$111 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.615% dearer against ApeX Omni than usual: you sell high and buy low: +$62 more if the spread goes back to its 7-day average of −0.039%. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	314.21	0.0100	pay 0.0013% / 1h	45m 52s	$46K	$252K	50x
Short	BingX TAO-USDT	316.02	0.0184	get 0.0092% / 4h	45m 52s	—	$30.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.576%Rate

Funding earned: $17.64
Price spread: +0.576% → −0.039%: $61.53
Slippage, 4 orders: −$20.23
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $38.94
Costs to cover: 0.402%
Break-even: from the start

Slippage from ApeX Omni: live order book, 11 min ago; BingX: live order book, 8 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 ApeX Omni live order book, 11 min ago	5.36 bp	12.2 bp −$12	123.0 bp −$1,230	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.95 bp	8.0 bp −$8	14.6 bp −$146	24.6 bp −$2,459	46.6 bp −$23.3K

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	−0.0499%	1h	315.15	+0.299%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.31	+0.351%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.50	+0.411%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	316.03	+0.581%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.54	+0.423%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.13	+0.611%	$91.1M	$489.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	+0.570%	$26.0M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.90	+0.538%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.33	+0.675%	$105.7M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.13	+0.611%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.74	+0.487%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	+0.007%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	314.21	long leg	$46K	$252K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	315.49	+0.407%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.71	+0.477%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.84	+0.519%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.53	+0.420%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.97	+0.560%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.76	+0.492%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.31	+0.350%	$645	$785K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	+0.198%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.88	+0.531%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.44	+0.391%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0154%	4h	316.02	+0.576%	$68.8M	$146.4M	50x	as long as short
BingX TAO-USDTshort	+0.0184%	4h	316.02	+0.576%	—	$30.1M	—
Paradex TAO-USD-PERP	+0.0195%	8h	315.58	+0.436%	$14K	$1K	10x	as long as short
01 Exchange TAOUSD	+0.0200%	1h	315.50	+0.411%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0210%	1h	315.61	+0.446%	$807K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0221%	4h	315.99	+0.567%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0247%	1h	316.21	+0.637%	$94.2M	$105.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0301%	1h	316.41	+0.700%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	316.27	+0.657%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.93	+0.547%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.84	+0.519%	$100K	$488K	5x	as long as short
Lighter TAO	+0.0360%	1h	316.31	+0.668%	$1.5M	$6.5M	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.53	+0.420%	$362K	$409K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	316.17	+0.625%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	+0.092%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.549%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.57	+0.434%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.60	+0.441%	$436K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.48	+0.722%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.719%	$23K	$2K	12x	as long as short