Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0235%/8h= −25.7% APRpaid last 24h −0.002%

Price spread now: OKX against Bullet+0.066%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 OKX

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

The price spread pays, funding is against you. OKX is 0.066% dearer against Bullet than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	324.69	0.0335	pay 0.0042% / 1h	58m 11s	$12K	$17K	20x
Short	OKX TAO-USDT-SWAP	324.90	0.0100	get 0.0100% / 8h	1h 58m	$26.9M	$130.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$49.38
Price spread: +0.066% → 0.000%: $6.55
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$60.82
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; OKX: 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 OKX live order book, 6 min ago	1.54 bp	6.5 bp −$7	16.1 bp −$161	74.1 bp −$7,409	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	−0.1440%	1h	322.10	−0.798%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	324.72	+0.010%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	324.14	−0.170%	$21K	—	150x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	324.90	+0.066%	$26.9M	$130.1M	50x
Gate TAO_USDT	+0.0100%	4h	324.20	−0.150%	$14.3M	$51.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.93	−0.233%	$17.7M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.75	+0.019%	$36.6M	$57.8M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.84	+0.047%	$76K	$991K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	324.18	−0.156%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	324.58	−0.033%	$118K	$582K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.89	−0.246%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	324.96	+0.084%	$1K	$966K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	324.29	−0.123%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	324.45	−0.073%	$54K	$292K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0124% / S +0.0144%	1h	324.20	−0.150%	$434K	—	100x	as long as short
edgeX TAOUSDC	+0.0148%	4h	323.78	−0.280%	$43K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0150%	4h	324.67	−0.005%	$104.8M	$148.4M	300x	as long as short
Binance TAOUSDT	+0.0154%	4h	324.52	−0.052%	$94.5M	$520.1M	75x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	324.97	+0.087%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0312%	4h	324.19	−0.153%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USDlong	+0.0335%	1h	324.69	long leg	$12K	$17K	20x
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	323.97	−0.220%	$19K	$1.9M	25x	as long as short
Bybit TAOUSDT	+0.0383%	4h	324.45	−0.073%	$71.0M	$155.0M	50x	as long as short
BloFin TAO-USDT	+0.0391%	4h	324.98	+0.090%	$4.7M	$11.2M	100x	as long as short
Popdex TAOUSDT	+0.0400%	1h	325.13	+0.136%	$42K	$687K	20x	as long as short
BingX TAO-USDT	+0.0424%	4h	324.71	+0.007%	—	$34.2M	—	as long as short
Nado TAO-PERP	+0.0448%	1h	324.99	+0.094%	$823K	$2.2M	10x	as long as short
GRVT TAO_USDT_Perp	+0.0476%	4h	323.22	−0.451%	$551K	$948K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	323.93	−0.232%	$927K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0509%	4h	323.35	−0.413%	$5.7M	$10.1M	—	as long as short
Phoenix TAO	+0.0513%	1h	325.20	+0.158%	$324K	$702K	5x	as long as short
ApeX Omni TAOUSDT	+0.0520%	1h	323.91	−0.239%	$47K	$258K	50x	as long as short
Pacifica TAO	+0.0525%	1h	325.05	+0.113%	$370K	$422K	10x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	325.52	+0.256%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	325.07	+0.118%	$105K	$384K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	324.95	+0.082%	$374	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0726%	1h	324.50	−0.058%	$323K	$896K	10x	as long as short
Hyperliquid TAO	+0.0802%	1h	324.63	−0.018%	$96.1M	$109.9M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	325.16	+0.146%	$1.5M	$6.9M	50x	as long as short
Lighter TAO	+0.0992%	1h	324.43	−0.079%	$1.6M	$6.4M	5x	as long as short
RISEx TAO/USDC	+0.1077%	1h	325.06	+0.114%	$466K	$651K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1138%	1h	324.30	−0.121%	$6.1M	$21.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.62	−0.329%	$24K	$2K	12x	as long as short