Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.010%

Price spread now: Bybit against Arcus−0.238%7-day average −0.050% · 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−$67as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.211%−$21 · spread now −0.238%, 7d avg −0.050%

Together, before fees−0.225%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.188% cheaper against Arcus than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	315.46	0.0345	pay 0.0043% / 1h	51m 57s	$99K	$488K	5x
Short	Bybit TAOUSDT	314.71	0.0220	get 0.0110% / 4h	51m 57s	$68.9M	$145.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.238%Rate

Funding earned: −$26.38
Price spread: −0.238% → −0.050%: −$18.77
Slippage, 4 orders: −$32.52
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.17
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Arcus: live order book, 7 min ago; Bybit: live order book, 2 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, 7 min ago	9.98 bp	12.3 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.16 bp	11.0 bp −$11	22.8 bp −$228	43.6 bp −$4,355	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
Bulk TAO-USD	−0.0499%	1h	315.15	−0.098%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.36	−0.032%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.42	−0.013%	$20K	—	150x	as long as short
ApeX Omni TAOUSDT	+0.0050%	1h	315.08	−0.120%	$46K	$252K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.18	−0.089%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.71	+0.079%	$41K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.63	−0.264%	$91.2M	$487.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.241%	$25.9M	$118.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.10	−0.114%	$12.9M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.28	−0.057%	$104.8M	$142.0M	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	315.19	−0.086%	$17.5M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.51	−0.301%	$35.1M	$55.7M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.41	+0.301%	$35K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.53	+0.022%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.64	+0.056%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.57	+0.035%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.22	−0.076%	$109K	$526K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.20	−0.082%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.54	+0.025%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	315.44	−0.006%	$2K	$780K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	315.57	+0.035%	$57K	$275K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0130%	4h	316.46	+0.318%	$527K	$952K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0115%	1h	315.42	−0.013%	$428K	—	100x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	315.47	+0.003%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0194%	1h	315.35	−0.035%	$94.3M	$104.7M	5x	as long as short
Paradex TAO-USD-PERP	+0.0204%	8h	315.33	−0.043%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0210%	1h	315.72	+0.082%	$13K	$1.6M	25x	as long as short
Bybit TAOUSDTshort	+0.0220%	4h	314.71	−0.238%	$68.9M	$145.7M	50x
Aster TAOUSDT	+0.0234%	4h	315.42	−0.012%	$1.2M	$10.1M	50x	as long as short
Nado TAO-PERP	+0.0239%	1h	315.67	+0.067%	$807K	$2.2M	10x	as long as short
BingX TAO-USDT	+0.0244%	4h	314.96	−0.158%	—	$30.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0280%	1h	315.38	−0.025%	$313K	$914K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.15	+0.219%	$4.5M	$10.9M	100x	as long as short
Lighter TAO	+0.0344%	1h	315.55	+0.030%	$1.5M	$6.4M	5x	as long as short
Arcus TAO-USDlong	+0.0345%	1h	315.46	long leg	$99K	$488K	5x
Pacifica TAO	+0.0365%	1h	315.42	−0.014%	$368K	$402K	10x	as long as short
Extended TAO-USD	+0.0368%	1h	314.70	−0.242%	$922K	$2.4M	25x	as long as short
Phoenix TAO	+0.0581%	1h	315.90	+0.139%	$314K	$697K	5x	as long as short
Variational Omni TAO	+0.0690%	4h	316.99	+0.486%	$5.9M	$9.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.92	+0.146%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.15	−0.097%	$433K	$656K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.48	+0.323%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.25	+1.201%	$23K	$2K	12x	as long as short