Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.013%

Price spread now: BingX against Arcus+0.026%7-day average −0.078% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Arcus Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now +0.026%, 7d avg −0.078%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.104% dearer against Arcus than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.078%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.7 days. At the pace of the last 4 days (−0.020% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	311.95	0.0231	pay 0.0029% / 1h	8m 20s	$101K	$394K	5x
Short	BingX TAO-USDT	312.03	0.0180	get 0.0090% / 4h	3h 08m	—	$33.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$10.76
Price spread: +0.026% → −0.078%: $10.37
Slippage, 4 orders: −$21.47
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.36
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Arcus: live order book, 45 min ago; BingX: live order book, 15 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, 45 min ago	5.09 bp	14.4 bp −$14	26.6 bp −$266	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	0.48 bp	7.2 bp −$7	12.9 bp −$129	26.6 bp −$2,660	53.2 bp −$26.6K

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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.84	−0.036%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.81	−0.046%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0009%	1h	311.62	−0.106%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.70	−0.080%	$48K	$661K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.36	−0.189%	$2K	$857K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.71	−0.078%	$355K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.03	+0.025%	$89.1M	$502.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.10	+0.048%	$26.0M	$120.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.60	−0.112%	$13.3M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.02	+0.022%	$103.2M	$145.7M	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	311.69	−0.083%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.71	−0.077%	$35.0M	$56.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.53	+0.186%	$41K	$313K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.48	+0.170%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.64	−0.099%	$81K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.02	+0.021%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.42	−0.170%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.44	−0.163%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.66	−0.093%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.04	+0.029%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0105%	4h	311.74	−0.069%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0113%	4h	312.05	+0.032%	$52K	$290K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0114%	4h	312.81	+0.274%	$531K	$956K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0135% / S +0.0137%	1h	311.74	−0.067%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0165%	8h	311.69	−0.084%	$14K	$1K	10x	as long as short
BingX TAO-USDTshort	+0.0180%	4h	312.03	+0.026%	—	$33.8M	—
Arcus TAO-USDlong	+0.0231%	1h	311.95	long leg	$101K	$394K	5x
Bybit TAOUSDT	+0.0271%	4h	312.18	+0.074%	$67.4M	$150.8M	50x	as long as short
Extended TAO-USD	+0.0304%	1h	311.88	−0.022%	$909K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0316%	1h	311.88	−0.023%	$787K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0325%	4h	312.94	+0.316%	$5.5M	$10.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.89	−0.019%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	312.70	+0.240%	$311K	$711K	5x	as long as short
Hyperliquid TAO	+0.0465%	1h	311.95	0.000%	$91.6M	$107.9M	5x	as long as short
Bulk TAO-USD	+0.0468%	1h	310.75	−0.385%	$165K	$333	10x	as long as short
Backpack TAO_USDC_PERP	+0.0479%	1h	312.03	+0.026%	$310K	$885K	10x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	311.85	−0.032%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0489%	1h	311.97	+0.007%	$12K	$1.8M	25x	as long as short
Lighter TAO	+0.0624%	1h	311.87	−0.026%	$1.5M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.93	−0.007%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.70	−0.079%	$441K	$647K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	+0.042%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.513%	$23K	$2K	12x	as long as short