Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.081%

Price spread now: BloFin against Deribit+0.390%57s7-day average −0.001% · you sell dearer than you buy

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

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.594%+$59 on $10k

Price spread, last 3 days (all we have)−0.389%−$39 · spread now +0.390%, 7d avg −0.001%

Together, before fees+0.206%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and BloFin is 0.391% dearer against Deribit than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.001%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	318.76	0.0160	pay 0.0020% / 1h	55m 55s	$24K	$1.5M	25x
Short	BloFin TAO-USDT	320.00	0.0340	get 0.0170% / 4h	3h 55m	$4.4M	$10.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.390%Rate

Funding earned: $37.8
Price spread: +0.390% → −0.001%: $39.11
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $57.91
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Deribit: live order book, 3 min ago; BloFin: live order book, 3 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 Deribit live order book, 3 min ago	31.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	6.89 bp	14.2 bp −$14	22.3 bp −$223	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-USD	−0.1799%	1h	311.96	−2.132%	$167K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.95	+0.062%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.63	−0.041%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.27	−0.152%	$40K	$576K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	318.51	−0.077%	$1K	$588K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.50	+0.233%	$91.3M	$437.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.30	+0.171%	$25.8M	$106.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.20	+0.139%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.39	+0.199%	$104.9M	$131.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.21	+0.143%	$19.0M	$28.2M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	319.24	+0.152%	$35.7M	$48.7M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	319.13	+0.117%	$42K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	317.42	−0.417%	$531K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.82	−0.921%	$47K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.66	−0.030%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.75	−0.002%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.15	+0.124%	$127K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.81	+0.017%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	321.37	+0.820%	$176K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0160%	1h	318.76	long leg	$24K	$1.5M	25x
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	318.44	−0.100%	$454K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.78	+0.008%	$377K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	318.71	−0.014%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0206%	4h	319.40	+0.204%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0214%	8h	318.28	−0.150%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0291%	4h	319.01	+0.080%	$5.5M	$8.6M	—	as long as short
Bullet TAO-USD	+0.0315%	1h	318.58	−0.055%	$12K	$17K	20x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	320.00	+0.390%	$4.4M	$10.8M	100x
Polymarket Perps TAO-USD	+0.0380%	1h	318.50	−0.080%	$114K	$616K	5x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.50	+0.234%	—	$30.7M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0481%	1h	319.04	+0.089%	$5.8M	$20.2M	50x	as long as short
Phoenix TAO	+0.0537%	1h	319.30	+0.171%	$335K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.85	−0.284%	$23K	$370	12x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.29	−0.147%	$366	—	20x	as long as short
Bybit TAOUSDT	+0.0718%	4h	319.79	+0.325%	$65.6M	$129.8M	50x	as long as short
Nado TAO-PERP	+0.0859%	1h	318.43	−0.104%	$882K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0864%	1h	318.81	+0.017%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0984%	1h	319.38	+0.195%	$927K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.37	+0.193%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1138%	1h	319.54	+0.246%	$316K	$817K	10x	as long as short
RISEx TAO/USDC	+0.1141%	1h	318.47	−0.089%	$419K	$586K	5x	as long as short
Lighter TAO	+0.2032%	1h	319.41	+0.205%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2971%	1h	320.34	+0.497%	$104.6M	$88.3M	5x	as long as short