Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h +0.005%

Price spread now: SunX against Deribit+0.094%7-day average −0.027% · you sell dearer than you buy

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

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 3 days (all we have)−0.124%−$12 · spread now +0.094%, 7d avg −0.027%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.121% dearer against Deribit than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of −0.027%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.221%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	316.47	0.0223	pay 0.0028% / 1h	5m 37s	$17K	$1.5M	25x
Short	SunX TAO-USDT	316.77	0.0100	get 0.0050% / 4h	3h 05m	$1K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$25.83
Price spread: +0.094% → −0.027%: $12.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$28.74
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 3 min ago; SunX: live order book, 10 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	4.59 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	500.19 bp	doesn't fit	doesn't fit	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	−0.1228%	1h	316.14	−0.105%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.09	−0.120%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.31	−0.053%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.20	+0.230%	$43K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.56	+0.029%	$90.7M	$450.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.60	+0.041%	$25.7M	$109.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.30	−0.054%	$12.8M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.70	+0.072%	$99.6M	$136.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.59	+0.037%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.38	−0.029%	$35.2M	$51.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.12	−0.112%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.209%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.43	−0.013%	$57K	$316K	10x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	316.77	+0.094%	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	316.53	+0.018%	$126K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.17	+0.221%	$3.4M	$7.8M	50x	as long as short
Bullet TAO-USD	+0.0101%	1h	317.01	+0.169%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.97	+0.157%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0123%	8h	316.51	+0.012%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.105%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.54	+0.022%	$449K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.70	+0.071%	$375K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.88	+0.129%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0208%	4h	316.26	−0.067%	$1.3M	$8.8M	50x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0223%	1h	316.47	long leg	$17K	$1.5M	25x
Paradex TAO-USD-PERP	+0.0235%	8h	316.51	+0.013%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0262%	1h	317.32	+0.268%	$93K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.23	+0.556%	$4.5M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	316.61	+0.043%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.20	−0.086%	$331K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.25	+0.246%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.59	+0.037%	$23K	$902	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	+0.096%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.13	+0.209%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	316.72	+0.078%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0714%	4h	316.96	+0.154%	$65.2M	$133.6M	50x	as long as short
Nado TAO-PERP	+0.0749%	1h	317.24	+0.242%	$873K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0801%	1h	317.14	+0.211%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.43	+0.303%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1104%	1h	316.60	+0.040%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.51	+0.011%	$420K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.09	+0.195%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1769%	1h	316.69	+0.069%	$101.3M	$91.6M	5x	as long as short