Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0509%/8h= −55.7% APRpaid last 24h 0.000%

Price spread now: Bullet against BingX+0.025%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bullet is 0.025% dearer against BingX than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	316.27	0.0609	pay 0.0304% / 4h	3h 12m	—	$30.4M	—
Short	Bullet TAO-USD	316.35	0.0100	get 0.0013% / 1h	12m 17s	$12K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$106.85
Price spread: +0.025% → 0.000%: $2.53
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$122.32
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 11 min ago; Bullet: no order-book sample. Net counts fees only.

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, 11 min ago	1.25 bp	7.2 bp −$7	12.2 bp −$122	24.7 bp −$2,467	56.8 bp −$28.4K
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1821%	1h	318.67	+0.759%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.74	−0.169%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.03	−0.076%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.17	−0.032%	$42K	$598K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.24	−0.009%	$90.7M	$450.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	−0.085%	$25.8M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.085%	$12.8M	$51.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.15	−0.038%	$98.9M	$136.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.05	−0.070%	$17.9M	$29.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.10	−0.054%	$35.2M	$51.3M	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	316.13	−0.044%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.19	−0.026%	$524K	$958K	10x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	316.35	+0.025%	$12K	$17K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	316.24	−0.009%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.93	−0.108%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.39	+0.038%	$126K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.47	+0.063%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.97	+0.222%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	316.27	0.000%	$1K	$636K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	315.92	−0.110%	$448K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.15	−0.039%	$375K	$375K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.35	+0.025%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0206%	4h	316.16	−0.035%	$1.2M	$8.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	316.08	−0.060%	$14K	$1K	10x	as long as short
ApeX Omni TAOUSDT	+0.0247%	1h	316.20	−0.022%	$48K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0269%	1h	316.44	+0.054%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.46	+0.060%	$4.5M	$10.8M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0365%	1h	316.22	−0.015%	$17K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0485%	1h	316.26	−0.002%	$5.7M	$20.3M	50x	as long as short
Variational Omni TAO	+0.0516%	4h	316.67	+0.125%	$5.5M	$8.7M	—	as long as short
Phoenix TAO	+0.0525%	1h	316.60	+0.104%	$331K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	316.26	−0.003%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.474%	$23K	$802	12x	as long as short
BingX TAO-USDTlong	+0.0609%	4h	316.27	long leg	—	$30.4M	—
Bybit TAOUSDT	+0.0673%	4h	316.32	+0.016%	$65.2M	$133.4M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	316.26	−0.002%	$364	—	20x	as long as short
Nado TAO-PERP	+0.0764%	1h	316.03	−0.077%	$877K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0805%	1h	316.37	+0.032%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.73	+0.145%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	316.25	−0.007%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.15	−0.037%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1432%	1h	316.74	+0.150%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1848%	1h	316.61	+0.108%	$101.4M	$91.8M	5x	as long as short