Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.043%

Price spread now: Aster against Arcus−0.086%7-day average −0.029% · 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−$55as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Arcus Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.125%+$13 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.086%, 7d avg −0.029%

Together, before fees+0.102%+ Points / potential airdropAster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.057% cheaper against Arcus than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of −0.029%). If the spread goes back, that is −$6 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.125% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	306.06	0.0100	pay 0.0013% / 1h	38m 01s	$137K	$593K	5x
Short	Aster TAOUSDT	305.80	0.0117	get 0.0059% / 4h	2h 38m	$1.1M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Arcus. 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 ArcusbpFee AsterbpOrdersPrice spread, now −0.086%Rate

Funding earned: $3.57
Price spread: −0.086% → −0.029%: −$5.7
Slippage, 4 orders: −$36.99
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$51.61
Costs to cover: 0.495%
Break-even: 108.1 days

Slippage from Arcus: live order book, 50 min ago; Aster: live order book, 6 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 Arcus live order book, 50 min ago	10.10 bp	15.4 bp −$15	33.7 bp −$337	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	3.60 bp	9.2 bp −$9	24.9 bp −$249	211.3 bp −$21.1K	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	305.37	−0.226%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.57	−0.161%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.65	−0.134%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.76	−0.097%	$361K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.81	−0.082%	$85.7M	$401.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.88	−0.059%	$58.9M	$117.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.90	−0.052%	$25.0M	$92.3M	50x	as long as short
Arcus TAO-USDlong	+0.0100%	1h	306.06	long leg	$137K	$593K	5x
Gate TAO_USDT	+0.0100%	4h	305.50	−0.183%	$12.1M	$47.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.69	−0.121%	$112.5M	$122.4M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	305.56	−0.163%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.63	−0.140%	$34.3M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.72	−0.111%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	306.23	+0.056%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.88	−0.058%	$40K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.96	−0.034%	$536K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.81	−0.082%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.72	−0.112%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.72	−0.111%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.41	−0.212%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.74	−0.105%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.60	−0.150%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.66	−0.131%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0111%	1h	305.72	−0.111%	$85K	$669K	5x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	305.69	−0.121%	$2K	$426K	5x	as long as short
Aster TAOUSDTshort	+0.0117%	4h	305.80	−0.086%	$1.1M	$7.5M	50x
Paradex TAO-USD-PERP	+0.0166%	8h	305.74	−0.105%	$14K	$992	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0171%	1h	305.80	−0.084%	$13K	$1.3M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.54	−0.169%	$436K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.80	−0.085%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0236%	1h	305.77	−0.094%	$845K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.23	−0.271%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	306.09	+0.010%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0656%	1h	305.83	−0.074%	$873K	$1.9M	25x	as long as short
Bulk TAO-USD	+0.0668%	1h	304.81	−0.408%	$200K	$57K	10x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.62	−0.142%	$351	—	20x	as long as short
Lighter TAO	+0.0824%	1h	306.08	+0.006%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.48	+0.137%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1031%	1h	305.86	−0.065%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.97	−0.031%	$408K	$534K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1245%	1h	306.08	+0.007%	$468K	$683K	10x	as long as short
Hyperliquid TAO	+0.1616%	1h	306.32	+0.085%	$93.0M	$75.3M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	307.78	+0.562%	$22K	$136	12x	as long as short