Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.1% APRpaid last 24h −0.044%

Price spread now: Popdex against Aster−0.111%7-day average −0.045% · 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−$92as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.138%−$14 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.111%, 7d avg −0.045%

Together, before fees+0.001%+ Points / potential airdropAster: Stage 5 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.066% cheaper against Aster than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	307.58	0.0160	pay 0.0080% / 4h	2h 30m	$1.1M	$7.5M	50x
Short	Popdex TAOUSDT	307.24	0.0096	get 0.0012% / 1h	30m 40s	$42K	$526K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$13.54
Price spread: −0.111% → −0.045%: −$6.57
Slippage, 4 orders: −$70.74
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$105.25
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Popdex: live order book, 58 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, 3 min ago	2.12 bp	7.6 bp −$8	21.0 bp −$210	211.5 bp −$21.1K	doesn't fit
Sell Popdex live order book, 58 min ago	25.63 bp	33.2 bp −$33	107.6 bp −$1,076	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	307.36	−0.072%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.27	−0.102%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0058%	1h	307.45	−0.041%	$14K	$1.3M	25x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	307.24	−0.111%	$42K	$526K	20x
Pacifica TAO	+0.0100%	1h	307.71	+0.041%	$364K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.60	+0.008%	$86.0M	$402.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.70	+0.039%	$59.3M	$117.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.50	−0.026%	$25.1M	$92.8M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.60	+0.007%	$137K	$594K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.166%	$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	307.40	−0.059%	$12.1M	$47.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.50	−0.026%	$113.6M	$122.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.50	−0.026%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.28	−0.098%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.38	−0.065%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	−0.589%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	−0.065%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	−0.090%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.14	−0.143%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.41	−0.054%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.32	−0.085%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.25	−0.107%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.35	−0.075%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.26	−0.104%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.56	−0.007%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.37	−0.068%	$1K	$430K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	307.56	−0.007%	$86K	$669K	5x	as long as short
Aster TAOUSDTlong	+0.0160%	4h	307.58	long leg	$1.1M	$7.5M	50x
Paradex TAO-USD-PERP	+0.0163%	8h	307.63	+0.017%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.21	−0.120%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.234%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	−0.053%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.28	−0.098%	$4.2M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.74	+0.052%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.41	−0.056%	$354	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.57	−0.004%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0936%	1h	308.01	+0.141%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.45	+0.283%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.61	+0.010%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.49	−0.028%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1309%	1h	308.02	+0.143%	$471K	$681K	10x	as long as short
Hyperliquid TAO	+0.1689%	1h	308.22	+0.208%	$94.1M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.338%	$22K	$138	12x	as long as short