Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.002%

Price spread now: KuCoin against Bullet−0.097%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 KuCoin

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—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and KuCoin is 0.097% cheaper against Bullet than usual: you would sell low and buy high (−$10 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	313.14	0.0322	pay 0.0040% / 1h	26m 59s	$12K	$17K	20x
Short	KuCoin TAOUSDTM	312.84	0.0100	get 0.0050% / 4h	2h 26m	$17.3M	$31.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$46.63
Price spread: −0.097% → 0.000%: −$9.69
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.31
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	1.75 bp	17.3 bp −$17	27.4 bp −$274	78.6 bp −$7,865	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.81	−0.105%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0037%	1h	313.13	−0.003%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.17	+0.008%	$89.9M	$508.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.00	−0.046%	$26.2M	$122.0M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	313.47	+0.105%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.80	−0.110%	$13.9M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.09	−0.017%	$107.4M	$145.7M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	312.84	−0.097%	$17.3M	$31.4M	75x
Bitget TAOUSDT	+0.0100%	4h	312.98	−0.052%	$35.3M	$57.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.21	+0.342%	$42K	$314K	10x	as long as short

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	313.05	−0.030%	$89K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.64	−0.161%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.04	−0.033%	$113K	$554K	20x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	313.20	+0.018%	$641	$923K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.10	−0.015%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	312.94	−0.065%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0129% / S +0.0140%	1h	312.72	−0.136%	$419K	—	100x	as long as short
Popdex TAOUSDT	+0.0136%	1h	313.28	+0.044%	$51K	$668K	20x	as long as short
Phemex TAOUSDT	+0.0180%	4h	312.91	−0.074%	$3.1M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0206%	4h	313.05	−0.030%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	313.49	+0.111%	$357K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0268%	8h	313.45	+0.097%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0272%	1h	313.25	+0.033%	$771K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0304%	1h	312.99	−0.049%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USDlong	+0.0322%	1h	313.14	long leg	$12K	$17K	20x
BloFin TAO-USDT	+0.0340%	4h	313.29	+0.047%	$4.6M	$10.9M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0348%	4h	314.02	+0.279%	$533K	$923K	10x	as long as short
ApeX Omni TAOUSDT	+0.0400%	1h	314.32	+0.376%	$44K	$256K	50x	as long as short
BingX TAO-USDT	+0.0430%	4h	313.23	+0.028%	—	$33.7M	—	as long as short
Bybit TAOUSDT	+0.0432%	4h	313.20	+0.018%	$68.0M	$152.4M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0447%	1h	312.93	−0.068%	$15K	$1.8M	25x	as long as short
Variational Omni TAO	+0.0449%	4h	314.04	+0.285%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0464%	1h	312.84	−0.095%	$896K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.66	+0.165%	$101K	$345K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.20	+0.337%	$313K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.10	−0.014%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0760%	1h	313.69	+0.175%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0800%	1h	313.28	+0.043%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0802%	1h	313.53	+0.123%	$91.6M	$109.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0812%	1h	313.26	+0.037%	$311K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	314.27	+0.360%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.32	+0.057%	$453K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+2.024%	$23K	$2K	12x	as long as short