Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Arcus−0.775%54s7-day average −0.056% · 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−$520.518% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 3 days (all we have)+1.244%+$124 · spread now −0.775%, 7d avg −0.056%

Together, before fees+1.236%+ Points / potential airdropedgeX: Active · farm board+$124 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: edgeX is 0.719% cheaper against Arcus than usual: you would sell low and buy high, −$72 on $10k if it goes back to its 7-day average of −0.056%. The two prices were read 54 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	Arcus TAO-USD	307.51	0.0100	pay 0.0013% / 1h	24m 12s	$137K	$598K	5x
Short	edgeX TAOUSDC	305.13	0.0100	get 0.0050% / 4h	2h 24m	$39K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.775%Rate

Funding earned: $0
Price spread: −0.775% → −0.056%: −$71.94
Slippage, 4 orders: −$38.31
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$123.75
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from Arcus: live order book, 64 min ago; edgeX: live order book, 63 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, 64 min ago	10.10 bp	15.4 bp −$15	33.7 bp −$337	doesn't fit	doesn't fit
Sell edgeX live order book, 63 min ago	6.41 bp	10.9 bp −$11	26.1 bp −$261	doesn't fit	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	306.93	−0.189%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0006%	1h	307.17	−0.112%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0007%	1h	307.32	−0.061%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.03	−0.156%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.21	−0.098%	$363K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.38	−0.044%	$85.9M	$403.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.49	−0.007%	$59.3M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.40	−0.036%	$25.4M	$93.2M	50x	as long as short
Arcus TAO-USDlong	+0.0100%	1h	307.51	long leg	$137K	$598K	5x
Bulk TAO-USD	+0.0100%	1h	307.07	−0.143%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.30	−0.068%	$12.2M	$48.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.37	−0.046%	$114.2M	$123.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.36	−0.049%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.24	−0.088%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.41	−0.033%	—	$30.5M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−0.524%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDCshort	+0.0100%	4h	305.13	−0.775%	$39K	$276K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	305.16	−0.765%	$535K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	304.90	−0.849%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.37	−0.046%	$77K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.22	−0.094%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.22	−0.094%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	−0.117%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.30	−0.068%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.29	−0.072%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.72	+0.068%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.10	−0.133%	$1K	$437K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	307.33	−0.059%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0165%	8h	307.10	−0.133%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.10	−0.132%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.60	−0.621%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0297%	1h	307.02	−0.159%	$840K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.84	−0.218%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.39	−0.039%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.32	−0.062%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.29	−0.071%	$902K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	307.86	+0.114%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	+0.172%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	+0.008%	$6.3M	$19.3M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.23	−0.091%	$414K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1135%	1h	307.53	+0.007%	$444K	$715K	10x	as long as short
Hyperliquid TAO	+0.1734%	1h	308.03	+0.169%	$94.2M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.504%	$22K	$171	12x	as long as short