Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against BloFin−0.275%103s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.459% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.375%−$38 on $10k

Price spread, last 3 days (all we have)+0.289%+$29 · spread now −0.275%, 7d avg +0.013%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.289% cheaper against BloFin than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.013%). Swap the legs. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	308.69	0.0340	pay 0.0170% / 4h	2h 07m	$4.3M	$9.5M	100x
Short	ApeX Omni TAOUSDT	307.84	0.0100	get 0.0013% / 1h	7m 26s	$46K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.275%Rate

Funding earned: −$50.4
Price spread: −0.275% → +0.013%: −$28.87
Slippage, 4 orders: −$23.94
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$125.21
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from BloFin: live order book, 11 min ago; ApeX Omni: live order book, 15 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 BloFin live order book, 11 min ago	0.65 bp	12.5 bp −$12	21.9 bp −$219	43.6 bp −$4,357	doesn't fit
Sell ApeX Omni live order book, 15 min ago	4.86 bp	12.5 bp −$13	124.1 bp −$1,241	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	−0.0601%	1h	309.73	+0.337%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	309.62	+0.301%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	310.56	+0.607%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.65	+0.311%	$43K	$528K	20x	as long as short
Pacifica TAO	+0.0100%	1h	309.85	+0.376%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.61	+0.298%	$86.8M	$405.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	309.75	+0.343%	$60.2M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.50	+0.262%	$25.6M	$94.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	309.93	+0.402%	$138K	$604K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.70	+0.327%	$12.3M	$48.7M	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	309.62	+0.301%	$119.6M	$126.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	309.80	+0.360%	$18.8M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.49	+0.259%	$34.6M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	309.68	+0.321%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.228%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	−0.119%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	+0.158%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0100%	1h	307.84	−0.275%	$46K	$268K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	309.71	+0.330%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	309.59	+0.293%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.65	+0.635%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.48	+0.580%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.36	+0.541%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	310.10	+0.457%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.74	+0.664%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	309.82	+0.366%	$1K	$451K	5x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	309.59	+0.292%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0171%	4h	309.74	+0.341%	$1.1M	$7.6M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	310.53	+0.595%	$443K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.036%	$327K	$462K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0287%	1h	310.53	+0.595%	$12K	$1.3M	25x	as long as short
Nado TAO-PERP	+0.0294%	1h	309.65	+0.312%	$855K	$1.9M	10x	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	308.69	long leg	$4.3M	$9.5M	100x
01 Exchange TAOUSD	+0.0544%	1h	310.12	+0.463%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	309.53	+0.272%	$356	—	20x	as long as short
Extended TAO-USD	+0.0752%	1h	309.61	+0.298%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0923%	1h	310.31	+0.525%	$386K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+0.952%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0968%	1h	310.33	+0.532%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1014%	1h	310.73	+0.661%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	309.81	+0.363%	$414K	$542K	5x	as long as short
Hyperliquid TAO	+0.1849%	1h	310.24	+0.501%	$97.2M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.013%	$22K	$271	12x	as long as short