Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against BingX−0.073%7-day average +0.004% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.073%, 7d avg +0.004%

Together, before fees+0.058%+$6 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: Popdex is 0.078% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	314.43	0.0100	pay 0.0050% / 4h	50m 29s	—	$30.3M	—
Short	Popdex TAOUSDT	314.20	0.0096	get 0.0012% / 1h	50m 29s	$40K	$550K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$0.84
Price spread: −0.073% → +0.004%: −$7.75
Slippage, 4 orders: −$17.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$42.65
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Popdex: live order book, 28 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, 3 min ago	0.48 bp	5.6 bp −$6	12.6 bp −$126	34.8 bp −$3,479	135.0 bp −$67.5K
Sell Popdex live order book, 28 min ago	3.43 bp	10.5 bp −$11	84.7 bp −$847	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	−0.4722%	1h	314.01	−0.133%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.17	−0.083%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.24	−0.378%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.813%	$22K	$259	12x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	314.20	−0.073%	$40K	$550K	20x
Pacifica TAO	+0.0100%	1h	314.62	+0.060%	$372K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.03	−0.127%	$88.9M	$421.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.06	−0.118%	$61.4M	$123.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	−0.137%	$25.2M	$100.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−0.073%	$12.6M	$48.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	314.42	−0.003%	$121.0M	$126.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.24	−0.060%	$19.2M	$27.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.90	−0.169%	$35.1M	$46.2M	50x	as long as short
BingX TAO-USDTlong	+0.0100%	4h	314.43	long leg	—	$30.3M	—
edgeX TAOUSDC	+0.0100%	4h	314.17	−0.084%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.25	−0.056%	$520K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.22	−0.703%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.42	−0.321%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.29	−0.363%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.52	−0.289%	$128K	$393K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.16	−0.404%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.46	−0.307%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	314.42	−0.003%	$962	$536K	5x	as long as short
Bullet TAO-USD	+0.0113%	1h	313.57	−0.274%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0129%	1h	314.15	−0.089%	$77K	$524K	5x	as long as short
Variational Omni TAO	+0.0177%	4h	314.40	−0.009%	$3.9M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0185%	8h	314.54	+0.034%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.66	+0.073%	$81K	$624K	5x	as long as short
Aster TAOUSDT	+0.0206%	4h	314.19	−0.076%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.65	−0.248%	$4.3M	$9.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.45	−0.310%	$5.8M	$19.8M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	314.14	−0.092%	$841K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0468%	1h	313.48	−0.303%	$19K	$1.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.20	−0.390%	$449K	—	100x	as long as short
Phoenix TAO	+0.0537%	1h	312.70	−0.550%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0557%	1h	313.63	−0.254%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	314.07	−0.116%	$361	—	20x	as long as short
Extended TAO-USD	+0.0800%	1h	314.34	−0.029%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0848%	1h	315.00	+0.181%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.78	−0.207%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.61	+0.059%	$433K	$536K	5x	as long as short
Lighter TAO	+0.1384%	1h	314.79	+0.115%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2219%	1h	314.67	+0.076%	$98.6M	$82.7M	5x	as long as short