Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.010%

Price spread now: KuCoin against dYdX+0.022%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1261.261% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.456%+$46 · spread now +0.022%, 7d avg +0.049%

Together, before fees+0.342%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.027% cheaper against dYdX than usual: you would sell low and buy high (spread +0.022% now, against its 7-day average of +0.049%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.114%, 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	316.84	0	get 0.0000% / 1h	8m 07s	$126K	$85K	5x
Short	KuCoin TAOUSDTM	316.91	0.0100	get 0.0050% / 4h	1h 08m	$17.7M	$31.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.022%Rate

Funding earned: $21
Price spread: +0.022% → +0.049%: −$2.71
Slippage, 4 orders: −$104.14
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$107.85
Costs to cover: 1.261%
Break-even: 42.9 days

Slippage from dYdX: live order book, 56 min ago; KuCoin: live order book, 11 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	38.70 bp	45.9 bp −$46	73.6 bp −$736	179.9 bp −$18.0K	664.8 bp −$332.4K
Sell KuCoin live order book, 11 min ago	0.77 bp	16.5 bp −$17	25.2 bp −$252	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	−0.1916%	1h	325.17	+2.629%	$172K	$1K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	316.84	long leg	$126K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.82	−0.007%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.12	+0.088%	$40K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.74	−0.031%	$92.1M	$490.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.80	−0.013%	$26.1M	$120.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.50	−0.107%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.69	−0.047%	$104.1M	$144.0M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	316.91	+0.022%	$17.7M	$31.6M	75x
Bitget TAOUSDT	+0.0100%	4h	316.41	−0.136%	$35.3M	$55.7M	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	316.99	+0.047%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.98	+0.044%	$88K	$796K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.96	+0.038%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.71	−0.041%	$109K	$529K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.20	+0.114%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.63	−0.066%	$673	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	316.73	−0.035%	$57K	$275K	10x	as long as short
Phemex TAOUSDT	+0.0154%	4h	317.03	+0.060%	$3.4M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	316.79	−0.014%	$430K	—	100x	as long as short
Bullet TAO-USD	+0.0160%	1h	317.02	+0.057%	$12K	$18K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	318.34	+0.472%	$528K	$952K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0203%	1h	316.87	+0.008%	$15K	$1.6M	25x	as long as short
Paradex TAO-USD-PERP	+0.0246%	8h	317.28	+0.138%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.70	−0.043%	$5.6M	$20.8M	50x	as long as short
Aster TAOUSDT	+0.0284%	4h	316.86	+0.007%	$1.2M	$10.1M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.25	+0.129%	$4.6M	$11.3M	100x	as long as short
ApeX Omni TAOUSDT	+0.0371%	1h	316.95	+0.035%	$47K	$253K	50x	as long as short
Bybit TAOUSDT	+0.0399%	4h	316.99	+0.047%	$69.5M	$146.2M	50x	as long as short
Pacifica TAO	+0.0448%	1h	317.16	+0.100%	$373K	$413K	10x	as long as short
BingX TAO-USDT	+0.0448%	4h	316.64	−0.063%	—	$30.3M	—	as long as short
Phoenix TAO	+0.0504%	1h	317.70	+0.271%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.37	+0.167%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0587%	1h	316.99	+0.049%	$817K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0632%	1h	316.72	−0.037%	$932K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	317.23	+0.123%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.89	+0.017%	$364	—	20x	as long as short
Lighter TAO	+0.0736%	1h	317.06	+0.068%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0799%	4h	316.62	−0.068%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0857%	1h	316.77	−0.022%	$315K	$927K	10x	as long as short
Hyperliquid TAO	+0.0999%	1h	316.86	+0.005%	$95.8M	$104.0M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.97	+0.357%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.17	+0.105%	$442K	$659K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.509%	$23K	$2K	12x	as long as short