Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0373%/8h= −40.9% APRpaid last 24h −0.027%

Price spread now: HTX against Arcus−0.101%7-day average −0.181% · 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−$151as in the Price arb table

costs, in and out, $10k−$1591.586% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.101%, 7d avg −0.181%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.079% dearer against Arcus than usual: you sell high and buy low (spread −0.101% now, against its 7-day average of −0.181%): +$8 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 4 days (−0.060% in total) that is about 4.9 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.060% in total (about -5.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	315.96	0.0473	pay 0.0059% / 1h	21m 57s	$99K	$384K	5x
Short	HTX TAO-USDT	315.64	0.0100	get 0.0050% / 4h	21m 57s	$116K	$603K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$78.43
Price spread: −0.101% → −0.181%: $7.94
Slippage, 4 orders: −$142.06
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$229.05
Costs to cover: 1.586%
Break-even: never at this rate

Slippage from Arcus: live order book, 17 min ago; HTX: live order book, 17 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, 17 min ago	9.78 bp	13.1 bp −$13	24.2 bp −$242	doesn't fit	doesn't fit
Sell HTX live order book, 17 min ago	8.86 bp	37.3 bp −$37	doesn't fit	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.32	−0.203%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0057%	1h	315.87	−0.028%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.74	−0.070%	$45K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	−0.146%	$26.3M	$130.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.30	−0.209%	$14.5M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.43	−0.168%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.21	−0.237%	$35.4M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.26	−0.222%	$45K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.48	−0.152%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.55	−0.130%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDTshort	+0.0100%	4h	315.64	−0.101%	$116K	$603K	20x
GMX TAO/USD [WBTC.b-USDC]	L +0.0105% / S +0.0138%	1h	315.34	−0.196%	$402K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	315.55	−0.130%	$2K	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	315.80	−0.052%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0161%	4h	315.50	−0.146%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0164%	4h	315.54	−0.133%	$101.8M	$152.2M	300x	as long as short
edgeX TAOUSDC	+0.0167%	4h	315.31	−0.206%	$42K	$319K	10x	as long as short
Binance TAOUSDT	+0.0171%	4h	315.61	−0.111%	$91.4M	$531.6M	75x	as long as short
Paradex TAO-USD-PERP	+0.0240%	8h	315.84	−0.039%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0250%	4h	315.58	−0.120%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0256%	4h	315.64	−0.101%	$69.1M	$156.8M	50x	as long as short
Bullet TAO-USD	+0.0268%	1h	315.76	−0.063%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0302%	4h	315.30	−0.208%	$536K	$921K	10x	as long as short
Pacifica TAO	+0.0313%	1h	316.16	+0.065%	$371K	$462K	10x	as long as short
Aster TAOUSDT	+0.0333%	4h	315.60	−0.114%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	315.43	−0.167%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0405%	4h	316.28	+0.101%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0442%	4h	315.60	−0.114%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0470%	1h	315.51	−0.142%	$780K	$2.0M	10x	as long as short
Arcus TAO-USDlong	+0.0473%	1h	315.96	long leg	$99K	$384K	5x
Lighter TAO	+0.0512%	1h	315.74	−0.068%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0561%	4h	315.37	−0.188%	$5.5M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0575%	1h	315.59	−0.117%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	315.60	−0.114%	$317K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0659%	1h	315.52	−0.139%	$292K	$904K	10x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	316.19	+0.073%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.64	−0.103%	$363	—	20x	as long as short
Hyperliquid TAO	+0.0710%	1h	315.66	−0.095%	$93.2M	$110.4M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	315.67	−0.091%	$446K	$658K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0840%	1h	315.60	−0.114%	$5.9M	$21.7M	50x	as long as short
Bulk TAO-USD	+0.0951%	1h	316.68	+0.228%	$168K	$0	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.41	+0.142%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	319.54	+1.133%	$23K	$2K	12x	as long as short