Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0320%/8h= +35.1% APRpaid last 24h +0.045%

Price spread now: BloFin against dYdX−0.023%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1181.179% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.299%+$30 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now −0.023%, 7d avg +0.055%

Together, before fees+0.440%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.078% cheaper against dYdX than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.055%). If the spread goes back, that is −$8 on $10k: about 19 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.299% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	303.22	0.0020	pay 0.0002% / 1h	26m 02s	$124K	$85K	5x
Short	BloFin TAO-USDT	303.15	0.0340	get 0.0170% / 4h	1h 26m	$4.2M	$9.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $67.28
Price spread: −0.023% → +0.055%: −$7.79
Slippage, 4 orders: −$95.86
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$58.36
Costs to cover: 1.179%
Break-even: 13.1 days

Slippage from dYdX: live order book, 58 min ago; BloFin: live order book, 3 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, 58 min ago	43.74 bp	48.7 bp −$49	62.5 bp −$625	138.1 bp −$13.8K	330.1 bp −$165.1K
Sell BloFin live order book, 3 min ago	0.49 bp	12.0 bp −$12	20.8 bp −$208	42.2 bp −$4,215	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.31	+0.030%	$26K	—	150x	as long as short
dYdX TAO-USDlong	+0.0020%	1h	303.22	long leg	$124K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	303.65	+0.142%	$45K	$538K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.56	+0.113%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.58	+0.119%	$84.9M	$414.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.59	+0.123%	$58.7M	$121.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	+0.093%	$24.4M	$95.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.69	+0.156%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	+0.052%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.30	+0.027%	$12.1M	$48.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	303.51	+0.096%	$111.4M	$125.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.61	+0.129%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.24	+0.007%	$33.9M	$46.1M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.50	+0.093%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.79	+0.188%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.78	+0.187%	$39K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.76	+0.177%	$502K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.79	+0.188%	$74K	$580K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.57	+0.115%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.68	+0.152%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.61	+0.129%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.77	+0.182%	$122K	$364K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.62	+0.132%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.72	+0.167%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.56	+0.113%	$622	$501K	5x	as long as short
ApeX Omni TAOUSDT	+0.0112%	1h	303.77	+0.182%	$46K	$269K	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.06	−0.052%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.26	+0.014%	$358K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.30	+0.028%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	303.71	+0.163%	$22K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0340%	1h	303.48	+0.087%	$819K	$1.9M	10x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	303.15	−0.023%	$4.2M	$9.3M	100x
Lighter TAO	+0.0376%	1h	303.85	+0.209%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	303.75	+0.175%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0440%	1h	303.58	+0.119%	$292K	$799K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.50	+0.093%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.68	+0.151%	$349	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	303.39	+0.058%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.46	+0.409%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.64	+0.139%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1055%	1h	303.87	+0.216%	$92.3M	$80.5M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.63	+0.135%	$411K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.818%	$22K	$264	12x	as long as short