Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.067%

Price spread now: BloFin against Bullet+0.522%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.522% dearer against Bullet than usual: you sell high and buy low: +$52 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	322.10	0.0271	pay 0.0034% / 1h	2m 31s	$13K	$17K	20x
Short	BloFin TAO-USDT	323.78	0.0396	get 0.0198% / 4h	3h 02m	$4.8M	$11.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bullet. 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 BulletbpFee BloFinbpOrdersPrice spread, now +0.522%Rate

Funding earned: $26.22
Price spread: +0.522% → 0.000%: $52.24
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $58.45
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; BloFin: live order book, 6 min ago. Net counts fees only.

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 Bullet no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	0.47 bp	8.3 bp −$8	8.3 bp −$83	23.0 bp −$2,296	doesn't fit

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0241%	1h	318.85	−1.010%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	321.76	−0.105%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.27	+0.674%	$53K	$700K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	324.22	+0.659%	$71.3M	$154.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.10	+0.622%	$27.2M	$131.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	324.40	+0.715%	$15.5M	$51.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.98	+0.584%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.19	+0.650%	$36.6M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.30	+0.063%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.90	+0.249%	$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-USDT	+0.0100%	4h	323.48	+0.429%	$117K	$548K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.68	+0.491%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	324.14	+0.634%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	322.68	+0.180%	$177K	$998	3x	as long as short
MEXC TAO_USDT	+0.0156%	4h	324.83	+0.848%	$105.7M	$156.4M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	324.33	+0.693%	$94.9M	$519.0M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	324.33	+0.693%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.125%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0220%	8h	324.66	+0.795%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0241%	4h	322.73	+0.196%	$55K	$272K	10x	as long as short
Bullet TAO-USDlong	+0.0271%	1h	322.10	long leg	$13K	$17K	20x
Extended TAO-USD	+0.0280%	1h	324.30	+0.683%	$983K	$2.2M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.180%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.154%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0323%	4h	324.36	+0.702%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	324.65	+0.792%	$378K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0368% / S −0.0109%	1h	323.75	+0.514%	$381K	—	100x	as long as short
BloFin TAO-USDTshort	+0.0396%	4h	323.78	+0.522%	$4.8M	$11.0M	100x
Nado TAO-PERP	+0.0403%	1h	322.29	+0.061%	$759K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0404%	1h	324.57	+0.768%	$102K	$331K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0532%	1h	322.94	+0.261%	$20K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.0532%	1h	324.25	+0.668%	$273K	$232K	5x	as long as short
Variational Omni TAO	+0.0551%	4h	321.24	−0.266%	$5.7M	$9.8M	—	as long as short
Lighter TAO	+0.0568%	1h	324.56	+0.764%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	321.70	−0.123%	$324K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	324.80	+0.839%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0673%	1h	324.63	+0.785%	$98.0M	$109.7M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.15	+0.017%	$370	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0702%	1h	324.28	+0.678%	$321K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0770%	1h	323.19	+0.340%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	322.86	+0.236%	$440K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.34	+0.696%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	+0.162%	$23K	$2K	12x	as long as short