Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against BloFin−0.142%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.436%−$44 on $10k

Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.142%, 7d avg −0.045%

Together, before fees−0.347%−$35 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 OKX is 0.097% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	309.54	0.0340	pay 0.0170% / 4h	2h 07m	$4.3M	$9.5M	100x
Short	OKX TAO-USDT-SWAP	309.10	0.0100	get 0.0100% / 8h	2h 07m	$25.5M	$94.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$50.4
Price spread: −0.142% → −0.045%: −$9.74
Slippage, 4 orders: −$22.73
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$104.88
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; OKX: live order book, 2 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, 12 min ago	0.65 bp	12.5 bp −$12	21.9 bp −$219	43.6 bp −$4,357	doesn't fit
Sell OKX live order book, 2 min ago	3.22 bp	12.0 bp −$12	15.5 bp −$155	80.3 bp −$8,026	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	+0.061%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	309.62	+0.026%	$130K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	309.03	−0.164%	$11K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	309.36	−0.058%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.65	+0.036%	$43K	$528K	20x	as long as short
Pacifica TAO	+0.0100%	1h	309.85	+0.100%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.00	−0.176%	$86.6M	$405.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	309.21	−0.107%	$60.1M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	309.10	−0.142%	$25.5M	$94.0M	50x
Arcus TAO-USD	+0.0100%	1h	309.93	+0.126%	$138K	$604K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	308.90	−0.207%	$12.3M	$48.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.00	−0.174%	$119.3M	$126.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.99	−0.178%	$18.8M	$26.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.75	−0.255%	$34.5M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.94	−0.194%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.502%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	−0.393%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	−0.117%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.84	−0.549%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	309.71	+0.055%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	309.59	+0.017%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.22	−0.103%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.38	−0.052%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.54	0.000%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	309.01	−0.171%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.34	−0.063%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	309.82	+0.090%	$1K	$451K	5x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	309.59	+0.017%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0171%	4h	309.44	−0.031%	$1.1M	$7.6M	50x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	−0.239%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0294%	1h	309.65	+0.036%	$855K	$1.9M	10x	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	309.54	long leg	$4.3M	$9.5M	100x
GMX TAO/USD [WBTC.b-USDC]	L +0.0486% / S −0.0184%	1h	309.31	−0.073%	$454K	—	100x	as long as short
01 Exchange TAOUSD	+0.0544%	1h	310.12	+0.187%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	309.53	−0.004%	$356	—	20x	as long as short
Extended TAO-USD	+0.0768%	1h	309.01	−0.173%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0913%	1h	309.00	−0.174%	$384K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+0.675%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0976%	1h	309.47	−0.021%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1019%	1h	309.25	−0.094%	$6.4M	$19.0M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	309.81	+0.088%	$414K	$542K	5x	as long as short
Hyperliquid TAO	+0.1848%	1h	309.49	−0.016%	$97.0M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	−0.262%	$22K	$271	12x	as long as short