Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0155%/8h= +16.9% APRpaid last 24h +0.013%

Price spread now: Aster against dYdX+0.233%49s7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.174% of the position

Long on dYdX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.233%, 7d avg +0.081%

Together, before fees−0.026%+ Points / potential airdropAster: Stage 5 · farm board−$3 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 Aster is 0.152% dearer against dYdX than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.081%. The two prices were read 49 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	dYdX TAO-USD	307.17	0	get 0.0000% / 1h	32m 44s	$129K	$84K	5x
Short	Aster TAOUSDT	307.88	0.0155	get 0.0077% / 4h	2h 32m	$1.1M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now +0.233%Rate

Funding earned: $32.48
Price spread: +0.233% → +0.081%: $15.17
Slippage, 4 orders: −$99.35
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.7
Costs to cover: 1.174%
Break-even: 22.0 days

Slippage from dYdX: live order book, 56 min ago; Aster: live order book, 1 min ago.

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 dYdX live order book, 56 min ago	45.10 bp	50.1 bp −$50	76.6 bp −$766	166.4 bp −$16.6K	377.2 bp −$188.6K
Sell Aster live order book, 1 min ago	2.12 bp	9.6 bp −$10	25.8 bp −$258	201.1 bp −$20.1K	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
dYdX TAO-USDlong	0.0000%	1h	307.17	long leg	$129K	$84K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.47	+0.097%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.12	−0.016%	$41K	$523K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.47	+0.098%	$363K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.13	+0.312%	$86.4M	$401.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.24	+0.349%	$59.3M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.30	+0.369%	$25.1M	$92.9M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.42	+0.082%	$136K	$594K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.70	+0.173%	$12.1M	$47.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.77	+0.196%	$113.4M	$122.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	307.65	+0.157%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.04	+0.284%	$34.6M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.15	+0.320%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	−0.455%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.39	−0.254%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	+0.044%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.64	−0.497%	$46K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.63	+0.149%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.64	+0.154%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	306.97	−0.064%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.10	−0.022%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.55	+0.124%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.77	+0.196%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	307.32	+0.050%	$2K	$429K	5x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	307.28	+0.037%	$86K	$669K	5x	as long as short
Aster TAOUSDTshort	+0.0155%	4h	307.88	+0.233%	$1.1M	$7.5M	50x
Paradex TAO-USD-PERP	+0.0167%	8h	307.41	+0.078%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.48	+0.102%	$439K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0212%	1h	307.76	+0.193%	$14K	$1.3M	25x	as long as short
Phoenix TAO	+0.0234%	1h	306.20	−0.315%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0262%	1h	307.35	+0.059%	$854K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.18	+0.004%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0528%	1h	307.49	+0.105%	$3K	$4K	5x	as long as short
Bulk TAO-USD	+0.0668%	1h	304.81	−0.768%	$200K	$57K	10x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.09	−0.025%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.73	+0.182%	$877K	$1.9M	25x	as long as short
Lighter TAO	+0.0896%	1h	308.57	+0.458%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.45	+0.417%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1024%	1h	307.92	+0.245%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.43	+0.085%	$411K	$536K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1300%	1h	308.10	+0.304%	$471K	$683K	10x	as long as short
Hyperliquid TAO	+0.1686%	1h	308.93	+0.574%	$94.2M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.473%	$22K	$138	12x	as long as short