Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h −0.004%

Price spread now: HTX against dYdX−0.198%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$360as in the Funding arb table

Net, price: spread back to 7d avg − costs−$359as in the Price arb table

costs, in and out, $10k−$3453.453% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.198%, 7d avg −0.063%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.134% cheaper against dYdX than usual: you would sell low and buy high (spread −0.198% now, against its 7-day average of −0.063%). If the spread goes back, that is −$13 on $10k: about 7.3 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.147%, 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	313.66	0.0039	pay 0.0005% / 1h	29m 17s	$125K	$85K	5x
Short	HTX TAO-USDT	313.04	0.0100	get 0.0050% / 4h	2h 29m	$113K	$554K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.198%Rate

Funding earned: $12.79
Price spread: −0.198% → −0.063%: −$13.42
Slippage, 4 orders: −$323.31
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$345.94
Costs to cover: 3.453%
Break-even: 196.4 days

Slippage from dYdX: live order book, 20 min ago; HTX: live order book, 19 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, 20 min ago	40.60 bp	45.6 bp −$46	50.4 bp −$504	116.9 bp −$11.7K	852.2 bp −$426.1K
Sell HTX live order book, 19 min ago	7.03 bp	146.1 bp −$146	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.92	+0.084%	$20K	—	150x	as long as short
dYdX TAO-USDlong	+0.0039%	1h	313.66	long leg	$125K	$85K	5x
Binance TAOUSDT	+0.0100%	4h	314.06	+0.128%	$90.2M	$508.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	+0.108%	$26.3M	$122.3M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	313.47	−0.060%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.90	+0.077%	$13.9M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.99	+0.105%	$107.8M	$145.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.99	+0.105%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.73	+0.022%	$35.4M	$57.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.56	−0.033%	$41K	$316K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	314.09	+0.137%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.12	+0.147%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	313.04	−0.198%	$113K	$554K	20x
Katana Perps TAO-USD	+0.0103%	8h	314.26	+0.191%	$643	$915K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.42	+0.242%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	314.27	+0.194%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0129% / S +0.0140%	1h	313.98	+0.101%	$420K	—	100x	as long as short
Phemex TAOUSDT	+0.0137%	4h	314.00	+0.108%	$3.2M	$8.0M	50x	as long as short
Popdex TAOUSDT	+0.0152%	1h	314.30	+0.204%	$51K	$667K	20x	as long as short
Aster TAOUSDT	+0.0206%	4h	314.15	+0.156%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	314.09	+0.137%	$358K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0270%	8h	313.97	+0.100%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0270%	1h	314.08	+0.135%	$773K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.24	+0.185%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0324%	1h	314.31	+0.207%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.40	+0.236%	$4.6M	$10.9M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0348%	4h	314.36	+0.224%	$534K	$923K	10x	as long as short
ApeX Omni TAOUSDT	+0.0397%	1h	313.30	−0.115%	$44K	$256K	50x	as long as short
BingX TAO-USDT	+0.0438%	4h	314.09	+0.137%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0449%	4h	314.04	+0.120%	$5.5M	$10.1M	—	as long as short
Bybit TAOUSDT	+0.0452%	4h	314.05	+0.124%	$68.2M	$152.4M	50x	as long as short
Extended TAO-USD	+0.0464%	1h	314.17	+0.162%	$897K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	314.63	+0.309%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.20	+0.172%	$313K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0595%	1h	314.26	+0.193%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.15	+0.156%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0760%	1h	314.87	+0.386%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	314.30	+0.204%	$91.9M	$108.9M	5x	as long as short
Lighter TAO	+0.0816%	1h	314.16	+0.160%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0824%	1h	314.13	+0.150%	$312K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	315.16	+0.478%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	314.51	+0.273%	$455K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+1.856%	$23K	$2K	12x	as long as short