Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.3287%/8h= +359.9% APRpaid last 24h +0.671%

Price spread now: Injective against BingX+0.910%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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.449%+$345 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$99 a day on $10k at the current rate, and Injective is 0.910% dearer against BingX than usual: you sell high and buy low: +$91 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	316.60	0.0424	pay 0.0212% / 4h	2h 22m	—	$33.6M	—
Short	Injective TAO/USDC PERP	319.48	0.3711	get 0.0464% / 1h	22m 35s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.910%Rate

Funding earned: $690.27
Price spread: +0.910% → 0.000%: $90.97
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $771.22
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 16 min ago; Injective: 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, 16 min ago	0.96 bp	6.2 bp −$6	11.9 bp −$119	25.0 bp −$2,496	57.5 bp −$28.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0038%	1h	313.74	−0.903%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.49	−0.350%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0042%	1h	315.75	−0.268%	$126K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.65	+0.015%	$90.9M	$509.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.60	0.000%	$26.6M	$123.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.190%	$14.1M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.42	−0.057%	$111.0M	$146.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.19	−0.130%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.31	−0.092%	$35.7M	$57.2M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.26	−1.055%	$41K	$314K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	315.49	−0.351%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.34	−0.398%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.24	−0.430%	$114K	$554K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.61	−0.313%	$3.2M	$8.0M	50x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	316.45	−0.047%	$648	$935K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.76	−0.267%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	315.80	−0.253%	$52K	$290K	10x	as long as short
Popdex TAOUSDT	+0.0128%	1h	316.72	+0.038%	$53K	$669K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	315.48	−0.353%	$422K	—	100x	as long as short
Aster TAOUSDT	+0.0225%	4h	316.44	−0.050%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	316.19	−0.131%	$360K	$419K	10x	as long as short
Nado TAO-PERP	+0.0261%	1h	315.29	−0.415%	$778K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0273%	8h	316.22	−0.120%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0302%	1h	315.74	−0.273%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0326%	1h	315.70	−0.285%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.98	−0.196%	$4.6M	$11.0M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0346%	4h	313.80	−0.884%	$533K	$923K	10x	as long as short
ApeX Omni TAOUSDT	+0.0359%	1h	313.36	−1.023%	$44K	$256K	50x	as long as short
Bybit TAOUSDT	+0.0416%	4h	316.82	+0.069%	$68.9M	$152.5M	50x	as long as short
BingX TAO-USDTlong	+0.0424%	4h	316.60	long leg	—	$33.6M	—
Variational Omni TAO	+0.0439%	4h	313.02	−1.131%	$5.5M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	316.83	+0.073%	$102K	$345K	5x	as long as short
Extended TAO-USD	+0.0488%	1h	316.54	−0.018%	$898K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	313.30	−1.042%	$312K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.52	−0.343%	$363	—	20x	as long as short
Lighter TAO	+0.0752%	1h	316.34	−0.082%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	317.21	+0.193%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0811%	1h	316.02	−0.183%	$92.7M	$108.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0828%	1h	316.07	−0.167%	$314K	$890K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0829%	1h	315.85	−0.236%	$15K	$1.8M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	315.94	−0.208%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	316.61	+0.002%	$458K	$650K	5x	as long as short
Injective TAO/USDC PERPshort	+0.3711%	1h	319.48	+0.910%	$23K	$2K	12x