Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0341%/8h= +37.3% APRpaid last 24h +0.328%

Price spread now: HTX against Bulk+1.454%7-day average −0.002% · 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+$23as in the Price arb table

costs, in and out, $10k−$1231.227% of the position

Long on Bulk Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.360%+$36 on $10k

Price spread, last 4 days (all we have)−1.386%−$139 · spread now +1.454%, 7d avg −0.002%

Together, before fees−1.025%−$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and HTX is 1.456% dearer against Bulk than usual: you sell high and buy low: +$146 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	318.85	−0.0241	get 0.0030% / 1h	2m 30s	$169K	$0	10x
Short	HTX TAO-USDT	323.48	0.0100	get 0.0050% / 4h	3h 02m	$117K	$548K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +1.454%Rate

Funding earned: $71.58
Price spread: +1.454% → −0.002%: $145.61
Slippage, 4 orders: −$103.67
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $94.52
Costs to cover: 1.227%
Break-even: from the start

Slippage from Bulk: live order book, 31 min ago; HTX: live order book, 31 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, 31 min ago	0.48 bp	4.0 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell HTX live order book, 31 min ago	16.57 bp	22.8 bp −$23	doesn't fit	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
Bulk TAO-USDlong	−0.0241%	1h	318.85	long leg	$169K	$0	10x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	321.76	+0.914%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.27	+1.701%	$53K	$700K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	323.78	+1.548%	$71.2M	$154.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	+1.554%	$27.1M	$131.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.80	+1.554%	$15.4M	$51.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.08	+1.642%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.85	+1.570%	$36.5M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.10	+1.648%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.90	+1.272%	$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-USDTshort	+0.0100%	4h	323.48	+1.454%	$117K	$548K	20x
Phemex TAOUSDT	+0.0100%	4h	323.68	+1.516%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	324.14	+1.661%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	322.68	+1.202%	$177K	$998	3x	as long as short
MEXC TAO_USDT	+0.0156%	4h	324.14	+1.661%	$105.4M	$156.4M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	323.81	+1.557%	$94.8M	$518.9M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	323.96	+1.604%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	+0.894%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0220%	8h	324.66	+1.823%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0242%	4h	323.90	+1.585%	$55K	$272K	10x	as long as short
Bullet TAO-USD	+0.0275%	1h	324.08	+1.642%	$13K	$17K	20x	as long as short
Extended TAO-USD	+0.0280%	1h	324.30	+1.710%	$983K	$2.2M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	+0.838%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	+0.864%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0323%	4h	323.96	+1.604%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	324.65	+1.820%	$378K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0368% / S −0.0109%	1h	323.75	+1.540%	$381K	—	100x	as long as short
Nado TAO-PERP	+0.0393%	1h	324.39	+1.740%	$764K	$2.0M	10x	as long as short
BloFin TAO-USDT	+0.0396%	4h	323.78	+1.548%	$4.8M	$11.0M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	324.57	+1.796%	$102K	$331K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0532%	1h	322.94	+1.284%	$20K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.0532%	1h	324.25	+1.695%	$273K	$232K	5x	as long as short
Variational Omni TAO	+0.0551%	4h	321.24	+0.752%	$5.7M	$9.8M	—	as long as short
Lighter TAO	+0.0568%	1h	324.56	+1.792%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	321.70	+0.895%	$324K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	324.80	+1.868%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0678%	1h	324.48	+1.767%	$98.0M	$109.7M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.15	+1.038%	$370	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0702%	1h	324.28	+1.705%	$321K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0770%	1h	323.19	+1.364%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	322.86	+1.259%	$440K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.34	+1.723%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	+1.184%	$23K	$2K	12x	as long as short