Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0591%/8h= +64.7% APRpaid last 24h +0.306%

Price spread now: Aster against Bulk−0.961%54s7-day average +0.098% · 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−$250.247% of the position

Long on Bulk Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.425%+$42 on $10k

Price spread, last 4 days (all we have)+1.210%+$121 · spread now −0.961%, 7d avg +0.098%

Together, before fees+1.634%+ Points / potential airdropAster: Stage 5 · farm board+$163 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 1.060% cheaper against Bulk than usual: you would sell low and buy high (spread −0.961% now, against its 7-day average of +0.098%). If the spread goes back, that is −$106 on $10k: about 6.0 days of funding at the current rate (+$18 a day). The two prices were read 54 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	307.38	−0.0466	get 0.0058% / 1h	50m 37s	$202K	$17K	10x
Short	Aster TAOUSDT	304.42	0.0125	get 0.0062% / 4h	1h 50m	$1.1M	$7.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.961%Rate

Funding earned: $124.1
Price spread: −0.961% → +0.098%: −$105.97
Slippage, 4 orders: −$9.68
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$6.55
Costs to cover: 0.247%
Break-even: 7.4 days

Slippage from Bulk: live order book, 33 min ago; Aster: live order book, 3 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, 33 min ago	0.16 bp	3.7 bp −$4	5.1 bp −$51	10.6 bp −$1,063	39.7 bp −$19.8K
Sell Aster live order book, 3 min ago	1.14 bp	9.0 bp −$9	19.7 bp −$197	182.1 bp −$18.2K	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-USDlong	−0.0466%	1h	307.38	long leg	$202K	$17K	10x
dYdX TAO-USD	0.0000%	1h	304.37	−0.979%	$125K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	304.65	−0.889%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.89	−0.810%	$42K	$532K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	304.49	−0.942%	$85.5M	$409.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	304.48	−0.943%	$59.2M	$120.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	304.40	−0.969%	$24.5M	$94.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.02	−0.768%	$136K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	304.30	−1.002%	$12.1M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	304.40	−0.969%	$119.7M	$123.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	304.39	−0.973%	$18.3M	$26.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.76	−0.852%	$34.1M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.81	−0.836%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	308.27	+0.289%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.44	−0.307%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	306.54	−0.272%	$545K	$937K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.50	−0.286%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.02	−0.768%	$78K	$608K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.75	−0.856%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	304.61	−0.901%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.66	−0.885%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.72	−0.865%	$120K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.68	−0.878%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	304.74	−0.859%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	304.95	−0.791%	$2K	$485K	5x	as long as short
Aster TAOUSDTshort	+0.0125%	4h	304.42	−0.961%	$1.1M	$7.6M	50x
Paradex TAO-USD-PERP	+0.0157%	8h	304.42	−0.962%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	304.52	−0.930%	$360K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.60	−0.905%	$435K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0301%	1h	304.71	−0.867%	$24K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	304.89	−0.810%	$4.3M	$9.4M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0380%	1h	304.91	−0.804%	$377K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0448%	1h	305.01	−0.771%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0521%	1h	307.40	+0.007%	$326K	$491K	5x	as long as short
Nado TAO-PERP	+0.0544%	1h	304.80	−0.840%	$836K	$1.9M	10x	as long as short
Lighter TAO	+0.0584%	1h	304.61	−0.900%	$1.7M	$5.1M	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	304.86	−0.821%	$351	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	304.54	−0.924%	$888K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.39	−0.647%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1037%	1h	304.70	−0.872%	$5.9M	$19.7M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	305.14	−0.727%	$411K	$545K	5x	as long as short
Hyperliquid TAO	+0.1507%	1h	304.78	−0.846%	$94.1M	$78.3M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.439%	$22K	$264	12x	as long as short