Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0165%/8h= +18.0% APRpaid last 24h −0.076%

Price spread now: dYdX against BloFin+0.156%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.156%, 7d avg −0.064%

Together, before fees−0.543%−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and dYdX is 0.219% dearer against BloFin than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.064%. Mind the row above: over the last 7 days funding on this pair cost −0.339%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	323.57	0.0399	pay 0.0200% / 4h	3h 00m	$4.8M	$11.0M	100x
Short	dYdX TAO-USD	324.07	0.0564	get 0.0070% / 1h	0m 21s	$273K	$232K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.156%Rate

Funding earned: $34.55
Price spread: +0.156% → −0.064%: $21.94
Slippage, 4 orders: −$69.03
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$34.54
Costs to cover: 0.910%
Break-even: 14.0 days

Slippage from BloFin: live order book, 3 min ago; dYdX: live order book, 34 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, 3 min ago	3.10 bp	11.2 bp −$11	18.2 bp −$182	37.0 bp −$3,700	doesn't fit
Sell dYdX live order book, 34 min ago	17.74 bp	46.9 bp −$47	68.2 bp −$682	191.7 bp −$19.2K	738.5 bp −$369.2K

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	−0.0241%	1h	318.85	−1.460%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+0.197%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.32	+0.232%	$52K	$703K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	324.40	+0.257%	$71.5M	$154.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.40	+0.257%	$27.1M	$132.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	324.10	+0.164%	$15.5M	$51.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.32	+0.232%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.10	+0.164%	$36.6M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.28	+0.219%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.20	−0.114%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	323.83	+0.080%	$117K	$552K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.15	−0.130%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	323.95	+0.117%	$663	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.45	−0.037%	$178K	$998	3x	as long as short
MEXC TAO_USDT	+0.0158%	4h	324.60	+0.318%	$106.4M	$156.7M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	324.54	+0.300%	$95.0M	$519.5M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	324.51	+0.291%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.579%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0222%	8h	324.21	+0.198%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0245%	4h	324.46	+0.275%	$55K	$272K	10x	as long as short
Extended TAO-USD	+0.0280%	1h	324.40	+0.257%	$979K	$2.2M	25x	as long as short
Bullet TAO-USD	+0.0284%	1h	324.64	+0.330%	$13K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.634%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.609%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	324.31	+0.229%	$1.3M	$11.2M	50x	as long as short
Pacifica TAO	+0.0349%	1h	324.28	+0.220%	$377K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	−0.152%	$383K	—	100x	as long as short
Nado TAO-PERP	+0.0394%	1h	324.16	+0.182%	$737K	$2.0M	10x	as long as short
BloFin TAO-USDTlong	+0.0399%	4h	323.57	long leg	$4.8M	$11.0M	100x
Arcus TAO-USD	+0.0404%	1h	324.62	+0.325%	$102K	$329K	5x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	+0.060%	$5.7M	$9.8M	—	as long as short
dYdX TAO-USDshort	+0.0564%	1h	324.07	+0.156%	$273K	$232K	5x
Lighter TAO	+0.0568%	1h	324.25	+0.209%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	324.30	+0.226%	$326K	$714K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0630%	1h	323.31	−0.080%	$20K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	324.84	+0.392%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0696%	1h	324.73	+0.359%	$98.1M	$109.9M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	323.36	−0.064%	$372	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0709%	1h	323.77	+0.062%	$321K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0769%	1h	323.53	−0.012%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	324.20	+0.194%	$443K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.31	+0.229%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	−0.294%	$23K	$2K	12x	as long as short