Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.002%

Price spread now: edgeX against Bullet−0.176%7-day average — · you buy dearer than you sell

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

Long on Bullet Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and edgeX is 0.176% cheaper against Bullet than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	312.36	0.0310	pay 0.0039% / 1h	53m 29s	$12K	$17K	20x
Short	edgeX TAOUSDC	311.81	0.0100	get 0.0050% / 4h	2h 53m	$41K	$314K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$44.19
Price spread: −0.176% → 0.000%: −$17.55
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$78.74
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; edgeX: live order book, 60 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 edgeX live order book, 60 min ago	4.77 bp	9.3 bp −$9	24.0 bp −$240	doesn't fit	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
dYdX TAO-USD	0.0000%	1h	311.75	−0.195%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.01	−0.110%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.83	−0.169%	$638	$877K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.11	−0.079%	$89.2M	$504.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.10	−0.082%	$26.1M	$121.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.60	−0.242%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.28	−0.025%	$104.0M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.03	−0.105%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.07	−0.092%	$35.1M	$56.9M	50x	as long as short
edgeX TAOUSDCshort	+0.0100%	4h	311.81	−0.176%	$41K	$314K	10x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	312.10	−0.082%	$81K	$907K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.41	−0.303%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.22	−0.364%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.85	−0.162%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	311.89	−0.149%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0136%	1h	311.99	−0.117%	$418K	—	100x	as long as short
Aster TAOUSDT	+0.0134%	4h	312.05	−0.098%	$1.3M	$10.5M	50x	as long as short
Popdex TAOUSDT	+0.0192%	1h	312.03	−0.105%	$48K	$662K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.240%	$532K	$942K	10x	as long as short
Paradex TAO-USD-PERP	+0.0206%	8h	311.95	−0.130%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0233%	1h	312.12	−0.074%	$355K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	−0.150%	$166K	$333	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0306%	1h	311.74	−0.196%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USDlong	+0.0310%	1h	312.36	long leg	$12K	$17K	20x
Nado TAO-PERP	+0.0323%	1h	312.22	−0.043%	$776K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.87	−0.156%	$4.5M	$10.8M	100x	as long as short
Bybit TAOUSDT	+0.0345%	4h	312.15	−0.066%	$67.5M	$151.1M	50x	as long as short
BingX TAO-USDT	+0.0348%	4h	312.26	−0.031%	—	$33.7M	—	as long as short
Extended TAO-USD	+0.0368%	1h	311.79	−0.182%	$903K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.177%	$5.5M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0418%	1h	311.84	−0.164%	$11K	$1.8M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	312.05	−0.098%	$100K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	312.80	+0.142%	$311K	$713K	5x	as long as short
Phemex TAOUSDT	+0.0561%	4h	311.96	−0.127%	$3.1M	$7.9M	50x	as long as short
Hyperliquid TAO	+0.0672%	1h	312.34	−0.005%	$91.4M	$108.2M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.26	−0.031%	$359	—	20x	as long as short
01 Exchange TAOUSD	+0.0744%	1h	312.23	−0.041%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0752%	1h	312.27	−0.026%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0826%	1h	311.90	−0.146%	$310K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	312.88	+0.167%	$1.5M	$6.7M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	311.97	−0.123%	$446K	$649K	5x	as long as short
ApeX Omni TAOUSDT	+0.1940%	1h	312.51	+0.049%	$46K	$254K	50x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	315.73	+1.080%	$23K	$2K	12x	as long as short