Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.252%

Price spread now: Bulk against ApeX Omni−0.023%55s7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$400.404% of the position

Long on ApeX Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.286%−$29 on $10k

Price spread, last 3 days (all we have)−0.606%−$61 · spread now −0.023%, 7d avg −0.110%

Together, before fees−0.892%−$89 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: Bulk is 0.087% dearer against ApeX Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.110%. The two prices were read 55 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	307.14	0.0100	pay 0.0013% / 1h	29m 38s	$46K	$267K	50x
Short	Bulk TAO-USD	307.07	0.0100	get 0.0013% / 1h	29m 38s	$201K	$57K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → −0.110%: $8.7
Slippage, 4 orders: −$23.43
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$31.73
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 57 min ago; Bulk: live order book, 59 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, 57 min ago	4.65 bp	14.4 bp −$14	125.6 bp −$1,256	doesn't fit	doesn't fit
Sell Bulk live order book, 59 min ago	2.39 bp	7.3 bp −$7	8.9 bp −$89	19.2 bp −$1,921	37.4 bp −$18.7K

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	305.82	−0.430%	$128K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	305.39	−0.568%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.17	−0.642%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.24	+0.033%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	306.05	−0.355%	$362K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.83	−0.425%	$85.6M	$402.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.69	−0.147%	$59.3M	$118.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	306.60	−0.176%	$25.0M	$92.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.86	−0.091%	$136K	$594K	5x	as long as short
Bulk TAO-USDshort	+0.0100%	1h	307.07	−0.023%	$201K	$57K	10x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	305.40	−0.567%	$12.0M	$47.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	306.55	−0.192%	$113.2M	$123.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	306.40	−0.241%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.51	−0.205%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.24	−0.619%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.127%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	+0.078%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	+0.053%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	307.14	long leg	$46K	$267K	50x
Bullet TAO-USD	+0.0100%	1h	305.25	−0.615%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.25	−0.615%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.96	−0.710%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.47	−0.869%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.56	−0.514%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.46	−0.545%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0106%	1h	307.43	+0.094%	$86K	$669K	5x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.37	+0.075%	$1K	$430K	5x	as long as short
Aster TAOUSDT	+0.0147%	4h	305.91	−0.402%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	305.90	−0.402%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.99	−0.699%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.378%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	+0.090%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.28	+0.046%	$4.2M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.74	+0.195%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.05	−0.030%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.51	−0.530%	$901K	$2.0M	25x	as long as short
Lighter TAO	+0.0944%	1h	306.38	−0.247%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	305.96	−0.384%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1031%	1h	305.85	−0.421%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.49	+0.115%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1302%	1h	305.78	−0.443%	$437K	$703K	10x	as long as short
Hyperliquid TAO	+0.1697%	1h	305.94	−0.392%	$93.5M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.482%	$22K	$138	12x	as long as short