Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.252%

Price spread now: ApeX Omni against Bulk−0.707%115s7-day average +0.110% · 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—prices read too far apart to compare

costs, in and out, $10k−$400.404% of the position

Long on Bulk Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.286%+$29 on $10k

Price spread, last 3 days (all we have)+1.336%+$134 · spread now −0.707%, 7d avg +0.110%

Together, before fees+1.622%+$162 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: ApeX Omni is 0.816% cheaper against Bulk than usual: you would sell low and buy high, −$82 on $10k if it goes back to its 7-day average of +0.110%. The two prices were read 115 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	Bulk TAO-USD	307.07	0.0100	pay 0.0013% / 1h	23m 44s	$201K	$57K	10x
Short	ApeX Omni TAOUSDT	304.90	0.0100	get 0.0013% / 1h	23m 44s	$46K	$267K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bulk. 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 BulkbpFee ApeX OmnibpOrdersPrice spread, now −0.707%Rate

Funding earned: $0
Price spread: −0.707% → +0.110%: −$81.64
Slippage, 4 orders: −$23.43
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$122.07
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Bulk: live order book, 65 min ago; ApeX Omni: live order book, 63 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 Bulk live order book, 65 min ago	2.39 bp	5.9 bp −$6	5.9 bp −$59	10.9 bp −$1,091	34.6 bp −$17.3K
Sell ApeX Omni live order book, 63 min ago	4.65 bp	12.9 bp −$13	115.0 bp −$1,150	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
dYdX TAO-USD	0.0000%	1h	307.80	+0.237%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0006%	1h	307.17	+0.031%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0007%	1h	307.32	+0.083%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.15	+0.352%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.21	+0.371%	$364K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.13	+0.345%	$86.1M	$403.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.27	+0.391%	$59.5M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.20	+0.368%	$25.4M	$93.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.26	+0.388%	$137K	$598K	5x	as long as short
Bulk TAO-USDlong	+0.0100%	1h	307.07	long leg	$201K	$57K	10x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	308.10	+0.335%	$12.3M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.12	+0.342%	$114.5M	$123.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.11	+0.339%	$18.6M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.00	+0.303%	$34.5M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.12	+0.342%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−0.381%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.13	−0.633%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.16	−0.623%	$535K	$967K	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0100%	1h	304.90	−0.707%	$46K	$267K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	307.37	+0.098%	$77K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.22	+0.049%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.22	+0.049%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	+0.026%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.30	+0.075%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.29	+0.072%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.72	+0.211%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	308.21	+0.371%	$1K	$437K	5x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	308.10	+0.336%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0166%	4h	307.84	+0.250%	$1.1M	$7.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.10	+0.011%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.60	−0.479%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0297%	1h	307.02	−0.015%	$840K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.84	−0.075%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.54	+0.479%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.32	+0.081%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	308.11	+0.339%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	308.52	+0.474%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	+0.316%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	+0.152%	$6.3M	$19.3M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.32	+0.406%	$415K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1135%	1h	307.53	+0.150%	$444K	$715K	10x	as long as short
Hyperliquid TAO	+0.1741%	1h	308.68	+0.524%	$94.4M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.361%	$22K	$171	12x	as long as short