Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h +0.007%

Price spread now: dYdX against Bitget+0.157%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1121.117% of the position

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.157%, 7d avg −0.005%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.161% dearer against Bitget than usual: you sell high and buy low (spread +0.157% now, against its 7-day average of −0.005%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.8 days. Mind the row above: over the last 7 days funding on this pair paid +0.082%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	318.86	0.0100	pay 0.0050% / 4h	2h 20m	$35.9M	$57.4M	50x
Short	dYdX TAO-USD	319.36	0.0039	get 0.0005% / 1h	20m 11s	$127K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now +0.157%Rate

Funding earned: −$12.79
Price spread: +0.157% → −0.005%: $16.14
Slippage, 4 orders: −$89.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$108.35
Costs to cover: 1.117%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; dYdX: live order book, 29 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 Bitget live order book, 4 min ago	1.59 bp	10.4 bp −$10	12.9 bp −$129	31.6 bp −$3,162	doesn't fit
Sell dYdX live order book, 29 min ago	40.60 bp	45.6 bp −$46	49.0 bp −$490	165.2 bp −$16.5K	1068.5 bp −$534.2K

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	−1.606%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.02	+0.049%	$21K	—	150x	as long as short
dYdX TAO-USDshort	+0.0039%	1h	319.36	+0.157%	$127K	$85K	5x
Binance TAOUSDT	+0.0100%	4h	320.05	+0.373%	$91.9M	$511.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.10	+0.389%	$26.7M	$125.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.20	+0.107%	$14.2M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.15	+0.405%	$100.2M	$147.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.01	+0.361%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	318.86	long leg	$35.9M	$57.4M	50x
edgeX TAOUSDC	+0.0100%	4h	315.37	−1.093%	$42K	$315K	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	319.34	+0.151%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.73	−0.041%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.27	+0.129%	$116K	$563K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.86	+0.314%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.86	+0.001%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	319.57	+0.223%	$2K	$936K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	319.07	+0.066%	$53K	$290K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	319.61	+0.235%	$53K	$670K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	318.89	+0.010%	$428K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.65	+0.249%	$364K	$419K	10x	as long as short
Nado TAO-PERP	+0.0245%	1h	319.38	+0.164%	$804K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0253%	4h	319.89	+0.322%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0276%	8h	319.84	+0.308%	$15K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0299%	1h	319.22	+0.112%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0331%	1h	319.32	+0.144%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.38	−0.151%	$4.6M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0374%	4h	315.91	−0.924%	$537K	$923K	10x	as long as short
Bybit TAOUSDT	+0.0395%	4h	320.18	+0.414%	$69.9M	$153.2M	50x	as long as short
BingX TAO-USDT	+0.0402%	4h	319.20	+0.107%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	−0.107%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.98	+0.351%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	318.92	+0.020%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	316.70	−0.677%	$315K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0564%	1h	319.07	+0.066%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0574%	1h	315.18	−1.154%	$45K	$256K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.47	+0.191%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0792%	1h	320.45	+0.499%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	319.32	+0.144%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0822%	1h	319.68	+0.257%	$93.8M	$109.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0843%	1h	318.60	−0.082%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	320.16	+0.408%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.72	+0.270%	$462K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+0.194%	$23K	$2K	12x	as long as short