Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.030%

Price spread now: Bitget against dYdX+0.086%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1221.219% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.086%, 7d avg +0.003%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.082% dearer against dYdX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	303.16	0	get 0.0000% / 1h	37m 08s	$124K	$85K	5x
Short	Bitget TAOUSDT	303.42	0.0100	get 0.0050% / 4h	1h 37m	$33.9M	$45.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: $21
Price spread: +0.086% → +0.003%: $8.25
Slippage, 4 orders: −$99.94
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$92.69
Costs to cover: 1.219%
Break-even: 37.9 days

Slippage from dYdX: live order book, 47 min ago; Bitget: live order book, 2 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, 47 min ago	43.74 bp	48.7 bp −$49	62.5 bp −$625	138.1 bp −$13.8K	330.1 bp −$165.1K
Sell Bitget live order book, 2 min ago	1.32 bp	11.4 bp −$11	18.8 bp −$188	27.1 bp −$2,714	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	−0.0186%	1h	303.81	+0.214%	$162K	$54K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	303.16	long leg	$124K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.05	−0.036%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.45	+0.096%	$43K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.32	+0.054%	$85.0M	$411.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.77	+0.201%	$58.8M	$120.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.70	+0.178%	$24.4M	$95.0M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.59	+0.142%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.50	+0.112%	$12.1M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.40	+0.079%	$110.3M	$124.8M	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	303.19	+0.010%	$18.3M	$27.1M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	303.42	+0.086%	$33.9M	$45.9M	50x
BingX TAO-USDT	+0.0100%	4h	303.58	+0.139%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.66	+0.165%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.48	+0.104%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.75	+0.193%	$502K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.30	+0.046%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.40	+0.079%	$77K	$600K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.32	+0.053%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.25	+0.030%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.11	−0.016%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.27	+0.036%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.12	−0.013%	$3.2M	$7.8M	50x	as long as short
Aster TAOUSDT	+0.0102%	4h	303.33	+0.056%	$1.1M	$7.7M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.48	+0.106%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.31	+0.049%	$2K	$490K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.28	+0.039%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.31	+0.048%	$358K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.04	−0.040%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0239%	1h	303.18	+0.007%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.21	+0.016%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0368%	1h	303.45	+0.095%	$1.6M	$5.3M	5x	as long as short
Nado TAO-PERP	+0.0381%	1h	303.22	+0.019%	$818K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	303.75	+0.195%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0423%	1h	303.70	+0.178%	$378K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.10	+0.310%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.15	−0.005%	$349	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	303.23	+0.023%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.24	+0.356%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.23	+0.024%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1101%	1h	303.89	+0.241%	$92.2M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.53	+0.122%	$409K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.837%	$22K	$264	12x	as long as short