Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0170%/8h= +18.6% APRpaid last 24h −0.038%

Price spread now: Deribit against Aster−0.121%7-day average −0.014% · 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−$48as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.247%−$25 on $10k

Price spread, last 3 days (all we have)+0.172%+$17 · spread now −0.121%, 7d avg −0.014%

Together, before fees−0.075%+ Points / potential airdropAster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.107% cheaper against Aster than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of −0.014%). If the spread goes back, that is −$11 on $10k: about 2.1 days of funding at the current rate (+$5 a day). Mind the row above: over the last 5 days funding on this pair cost −0.247%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	312.68	0.0222	pay 0.0111% / 4h	2h 29m	$1.3M	$9.4M	50x
Short	Deribit TAO_USDC-PERPETUAL	312.31	0.0392	get 0.0049% / 1h	29m 08s	$24K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now −0.121%Rate

Funding earned: $35.67
Price spread: −0.121% → −0.014%: −$10.7
Slippage, 4 orders: −$22.64
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$12.67
Costs to cover: 0.376%
Break-even: 9.5 days

Slippage from Aster: live order book, 5 min ago; Deribit: live order book, 5 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 Aster live order book, 5 min ago	1.29 bp	8.3 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	5.97 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit

TAO on 42 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	312.49	−0.062%	$125K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.17	−0.164%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.77	+0.028%	$39K	$623K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.96	+0.090%	$89.8M	$463.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	+0.134%	$25.7M	$111.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.80	+0.038%	$12.7M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.90	+0.070%	$107.8M	$138.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.57	−0.036%	$18.0M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.76	+0.025%	$34.9M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.73	−0.306%	$34K	$300K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	310.29	−0.766%	$511K	$966K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.54	−0.365%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.42	−0.084%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.28	−0.129%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.94	+0.082%	$128K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.82	+0.044%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.44	−0.077%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	313.01	+0.105%	$1K	$696K	5x	as long as short
Polymarket Perps TAO-USD	+0.0149%	1h	312.73	+0.015%	$81K	$679K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0090%	1h	312.24	−0.140%	$437K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0169%	1h	312.51	−0.056%	$5.5M	$20.4M	50x	as long as short
Bullet TAO-USD	+0.0220%	1h	312.61	−0.022%	$12K	$17K	20x	as long as short
Aster TAOUSDTlong	+0.0222%	4h	312.68	long leg	$1.3M	$9.4M	50x
Pacifica TAO	+0.0285%	1h	313.04	+0.115%	$368K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0314%	8h	312.90	+0.070%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	313.31	+0.201%	$98K	$529K	5x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0392%	1h	312.31	−0.121%	$24K	$1.5M	25x
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.129%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0525%	1h	312.92	+0.075%	$776K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−0.122%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	313.14	+0.146%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	312.79	+0.035%	$360	—	20x	as long as short
BingX TAO-USDT	+0.0708%	4h	313.16	+0.153%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0774%	4h	311.95	−0.235%	$5.4M	$8.8M	—	as long as short
Bybit TAOUSDT	+0.0799%	4h	313.52	+0.268%	$65.4M	$137.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0884%	1h	313.14	+0.146%	$316K	$814K	10x	as long as short
Extended TAO-USD	+0.0904%	1h	312.33	−0.113%	$898K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	313.92	+0.396%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	313.02	+0.110%	$448K	$631K	5x	as long as short
Hyperliquid TAO	+0.1210%	1h	313.46	+0.249%	$99.0M	$94.6M	5x	as long as short
Lighter TAO	+0.1408%	1h	313.44	+0.243%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.4286%	1h	309.11	−1.144%	$164K	$40K	10x	as long as short