Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against BingX+0.102%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$370.365% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.102%, 7d avg +0.017%

Together, before fees−0.112%−$11 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: Bybit is 0.085% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	304.58	0.0100	pay 0.0050% / 4h	2h 45m	—	$30.5M	—
Short	Bybit TAOUSDT	304.89	0.0100	get 0.0050% / 4h	2h 45m	$58.4M	$117.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.102%Rate

Funding earned: $0
Price spread: +0.102% → +0.017%: $8.51
Slippage, 4 orders: −$15.52
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Bybit: live order book, 3 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	0.82 bp	8.6 bp −$9	12.1 bp −$121	25.9 bp −$2,587	59.5 bp −$29.8K
Sell Bybit live order book, 3 min ago	0.16 bp	10.4 bp −$10	18.0 bp −$180	42.1 bp −$4,213	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	−0.0973%	1h	304.87	+0.095%	$200K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	304.46	−0.039%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.68	+0.033%	$19K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0087%	1h	304.90	+0.105%	$16K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.94	+0.118%	$39K	$521K	20x	as long as short
Pacifica TAO	+0.0100%	1h	304.66	+0.028%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	304.87	+0.096%	$85.4M	$400.0M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	304.89	+0.102%	$58.4M	$117.0M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	304.80	+0.072%	$24.8M	$91.2M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.98	+0.131%	$135K	$591K	5x	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	304.70	+0.039%	$12.0M	$47.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	304.94	+0.118%	$111.8M	$121.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	304.76	+0.059%	$18.2M	$26.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.81	+0.076%	$34.1M	$44.2M	50x	as long as short
BingX TAO-USDTlong	+0.0100%	4h	304.58	long leg	—	$30.5M	—
Variational Omni TAO	+0.0100%	4h	303.48	−0.362%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	304.89	+0.101%	$39K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.08	+0.165%	$545K	$977K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.27	−0.430%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.80	+0.072%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	304.87	+0.095%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.74	+0.053%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.81	+0.076%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.77	+0.062%	$3.2M	$8.0M	50x	as long as short
Polymarket Perps TAO-USD	+0.0101%	1h	305.14	+0.184%	$83K	$665K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	304.95	+0.121%	$167K	$998	3x	as long as short
Aster TAOUSDT	+0.0106%	4h	304.77	+0.062%	$1.1M	$7.4M	50x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	304.96	+0.125%	$1K	$416K	5x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	304.58	+0.001%	$14K	$992	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.63	+0.016%	$435K	—	100x	as long as short
Nado TAO-PERP	+0.0185%	1h	304.99	+0.135%	$745K	$1.8M	10x	as long as short
Phoenix TAO	+0.0234%	1h	305.20	+0.204%	$323K	$462K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	304.62	+0.013%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	305.17	+0.194%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0616%	1h	305.19	+0.199%	$1.6M	$4.8M	5x	as long as short
Extended TAO-USD	+0.0624%	1h	304.85	+0.088%	$872K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	304.97	+0.128%	$351	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	305.68	+0.361%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1033%	1h	305.09	+0.168%	$6.2M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.03	+0.149%	$404K	$532K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1102%	1h	305.30	+0.236%	$467K	$683K	10x	as long as short
Hyperliquid TAO	+0.1417%	1h	305.26	+0.223%	$91.7M	$74.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	307.78	+1.051%	$22K	$136	12x	as long as short