Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h +0.004%

Price spread now: ApeX Omni against BingX−0.654%83s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.402% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+1.188%+$119 · spread now −0.654%, 7d avg +0.039%

Together, before fees+1.184%+$118 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.694% cheaper against BingX than usual: you would sell low and buy high (−$69 if the spread goes back to its 7-day average of +0.039%). Swap the legs. The two prices were read 83 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	BingX TAO-USDT	316.28	0.0184	pay 0.0092% / 4h	46m 06s	—	$30.1M	—
Short	ApeX Omni TAOUSDT	314.21	0.0100	get 0.0013% / 1h	46m 06s	$46K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.654%Rate

Funding earned: −$17.64
Price spread: −0.654% → +0.039%: −$69.37
Slippage, 4 orders: −$20.23
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$127.24
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; ApeX Omni: 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 BingX live order book, 8 min ago	0.95 bp	7.1 bp −$7	13.3 bp −$133	27.5 bp −$2,750	56.5 bp −$28.3K
Sell ApeX Omni live order book, 10 min ago	5.36 bp	13.0 bp −$13	133.3 bp −$1,333	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
Bulk TAO-USD	−0.0499%	1h	315.15	−0.357%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.31	−0.306%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.50	−0.246%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	316.03	−0.078%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.54	−0.234%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.17	−0.033%	$91.2M	$489.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.40	+0.038%	$26.0M	$119.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.089%	$13.0M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.22	−0.019%	$105.6M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.04	−0.076%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	316.12	−0.051%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.648%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0100%	1h	314.21	−0.654%	$46K	$252K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	315.49	−0.250%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.71	−0.180%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.84	−0.139%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.53	−0.237%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.97	−0.098%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.76	−0.165%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.31	−0.307%	$645	$785K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.457%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.88	−0.126%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.44	−0.266%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0154%	4h	316.40	+0.038%	$68.8M	$146.5M	50x	as long as short
BingX TAO-USDTlong	+0.0184%	4h	316.28	long leg	—	$30.1M	—
Paradex TAO-USD-PERP	+0.0195%	8h	315.58	−0.221%	$14K	$1K	10x	as long as short
01 Exchange TAOUSD	+0.0200%	1h	315.50	−0.247%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0210%	1h	315.61	−0.211%	$807K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0221%	4h	315.82	−0.145%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0250%	1h	316.46	+0.057%	$94.4M	$104.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0301%	1h	316.41	+0.041%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	315.97	−0.099%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.93	−0.111%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.84	−0.139%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.53	−0.237%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0376%	1h	316.23	−0.016%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	316.17	−0.033%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.563%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	−0.109%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.57	−0.223%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.60	−0.216%	$436K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.48	+0.063%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.053%	$23K	$2K	12x	as long as short