Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.312%

Price spread now: Bulk against Binance+0.382%7-day average −0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$25as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.364%−$36 on $10k

Price spread, last 4 days (all we have)−0.432%−$43 · spread now +0.382%, 7d avg −0.093%

Together, before fees−0.796%−$80 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: Bulk is 0.475% dearer against Binance than usual: you sell high and buy low, +$48 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TAOUSDT	313.12	0.0100	pay 0.0050% / 4h	2h 38m	$89.6M	$506.4M	75x
Short	Bulk TAO-USD	314.32	0.0100	get 0.0013% / 1h	38m 32s	$167K	$333	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now +0.382%Rate

Funding earned: $0
Price spread: +0.382% → −0.093%: $47.52
Slippage, 4 orders: −$5.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $24.81
Costs to cover: 0.227%
Break-even: from the start

Slippage from Binance: live order book, 5 min ago; Bulk: live order book, 10 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 Binance live order book, 5 min ago	0.16 bp	6.4 bp −$6	13.6 bp −$136	35.2 bp −$3,520	doesn't fit
Sell Bulk live order book, 10 min ago	0.32 bp	4.0 bp −$4	4.4 bp −$44	4.5 bp −$445	12.3 bp −$6,155

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 −0.0003%	1h	312.73	−0.126%	$23K	—	150x	as long as short
dYdX TAO-USD	+0.0047%	1h	312.85	−0.087%	$125K	$85K	5x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	312.97	−0.049%	$1K	$898K	5x	as long as short
Binance TAOUSDTlong	+0.0100%	4h	313.12	long leg	$89.6M	$506.4M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	312.80	−0.104%	$26.1M	$121.5M	50x	as long as short
Bulk TAO-USDshort	+0.0100%	1h	314.32	+0.382%	$167K	$333	10x
Gate TAO_USDT	+0.0100%	4h	312.50	−0.199%	$13.8M	$50.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.93	−0.062%	$105.4M	$145.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.96	−0.052%	$17.3M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.63	−0.158%	$35.2M	$57.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	313.60	+0.152%	$41K	$314K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.45	−0.215%	$89K	$921K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.74	−0.123%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.72	−0.448%	$111K	$547K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.03	−0.030%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.06	−0.020%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0131% / S +0.0138%	1h	312.76	−0.118%	$418K	—	100x	as long as short
Popdex TAOUSDT	+0.0152%	1h	313.09	−0.011%	$49K	$666K	20x	as long as short
Aster TAOUSDT	+0.0166%	4h	313.01	−0.037%	$1.3M	$10.5M	50x	as long as short
Pacifica TAO	+0.0233%	1h	312.92	−0.065%	$356K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0244%	8h	312.84	−0.092%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0274%	1h	312.56	−0.181%	$776K	$2.2M	10x	as long as short
GRVT TAO_USDT_Perp	+0.0282%	4h	312.68	−0.143%	$531K	$935K	10x	as long as short
Phemex TAOUSDT	+0.0292%	4h	312.92	−0.065%	$3.1M	$8.0M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0304%	1h	313.25	+0.040%	$5.8M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0311%	1h	313.21	+0.027%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.14	+0.005%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0402%	4h	312.83	−0.094%	—	$33.6M	—	as long as short
Variational Omni TAO	+0.0407%	4h	313.63	+0.160%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0416%	1h	312.82	−0.096%	$898K	$2.4M	25x	as long as short
Bybit TAOUSDT	+0.0447%	4h	312.94	−0.059%	$67.9M	$151.8M	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.22	+0.031%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.00	+0.280%	$312K	$713K	5x	as long as short
ApeX Omni TAOUSDT	+0.0516%	1h	313.78	+0.209%	$44K	$257K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0585%	1h	313.11	−0.004%	$9K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.88	−0.078%	$360	—	20x	as long as short
Hyperliquid TAO	+0.0745%	1h	313.11	−0.005%	$91.6M	$108.6M	5x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	313.33	+0.066%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0779%	1h	313.25	+0.040%	$309K	$887K	10x	as long as short
Lighter TAO	+0.0792%	1h	313.18	+0.017%	$1.5M	$6.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	314.38	+0.401%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	312.98	−0.046%	$451K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	317.66	+1.449%	$23K	$2K	12x	as long as short