Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0568%/8h= −62.2% APRpaid last 24h +0.249%

Price spread now: Bitget against Bulk+0.171%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on Bulk Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.285%+$28 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.171%, 7d avg +0.028%

Together, before fees+0.385%+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.143% dearer against Bulk than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.028%): +$14 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 3 days funding on this pair paid +0.285%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	304.81	0.0668	pay 0.0084% / 1h	38m 52s	$200K	$57K	10x
Short	Bitget TAOUSDT	305.33	0.0100	get 0.0050% / 4h	2h 38m	$34.3M	$44.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$119.31
Price spread: +0.171% → +0.028%: $14.29
Slippage, 4 orders: −$16.28
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$140.31
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from Bulk: live order book, 50 min ago; Bitget: live order book, 5 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, 50 min ago	2.39 bp	5.9 bp −$6	5.9 bp −$59	10.9 bp −$1,091	34.6 bp −$17.3K
Sell Bitget live order book, 5 min ago	1.96 bp	12.0 bp −$12	22.2 bp −$222	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	304.74	−0.023%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.77	−0.013%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.45	−0.118%	$41K	$525K	20x	as long as short
Pacifica TAO	+0.0100%	1h	304.92	+0.037%	$360K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.68	+0.284%	$85.7M	$401.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.80	+0.325%	$58.9M	$117.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.80	+0.325%	$24.9M	$92.2M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.91	+0.033%	$136K	$593K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	305.30	+0.161%	$12.0M	$47.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.53	+0.236%	$112.4M	$122.3M	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	305.44	+0.207%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	305.33	+0.171%	$34.3M	$44.4M	50x
BingX TAO-USDT	+0.0100%	4h	305.67	+0.282%	—	$30.5M	—	as long as short
Variational Omni TAO	+0.0100%	4h	306.23	+0.466%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.88	+0.352%	$40K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.96	+0.376%	$536K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.81	+0.328%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.99	+0.061%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	304.99	+0.059%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.02	+0.069%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.96	+0.049%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.99	+0.059%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.06	+0.081%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0105%	1h	305.00	+0.062%	$85K	$669K	5x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	304.55	−0.085%	$2K	$424K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0124%	1h	305.16	+0.114%	$13K	$1.3M	25x	as long as short
Aster TAOUSDT	+0.0124%	4h	305.21	+0.132%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0165%	8h	304.52	−0.094%	$14K	$992	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.77	−0.013%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.80	+0.325%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0237%	1h	304.84	+0.009%	$843K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.23	+0.138%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	304.83	+0.007%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0656%	1h	305.51	+0.231%	$873K	$1.9M	25x	as long as short
Bulk TAO-USDlong	+0.0668%	1h	304.81	long leg	$200K	$57K	10x
Reya TAORUSDPERP	+0.0694%	1h	305.02	+0.070%	$351	—	20x	as long as short
Lighter TAO	+0.0808%	1h	305.52	+0.232%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.88	+0.679%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1033%	1h	305.24	+0.140%	$6.2M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	304.66	−0.049%	$406K	$533K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1231%	1h	305.58	+0.253%	$467K	$683K	10x	as long as short
Hyperliquid TAO	+0.1595%	1h	305.85	+0.341%	$92.8M	$75.3M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	307.78	+0.974%	$22K	$136	12x	as long as short