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 −0.015%

Price spread now: MEXC against dYdX+0.314%47s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

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

costs, in and out, $10k−$940.938% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.314%, 7d avg +0.041%

Together, before fees−0.375%−$38 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 MEXC is 0.273% dearer against dYdX than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.152%, so the current rate has only just turned in your favour. The two prices were read 47 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	316.37	0	get 0.0000% / 1h	59m 01s	$126K	$84K	5x
Short	MEXC TAO_USDT	317.36	0.0100	get 0.0050% / 4h	1h 59m	$104.0M	$137.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.314%Rate

Funding earned: $21
Price spread: +0.314% → +0.041%: $27.3
Slippage, 4 orders: −$83.8
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$45.5
Costs to cover: 0.938%
Break-even: 22.2 days

Slippage from dYdX: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	38.70 bp	45.9 bp −$46	73.6 bp −$736	179.9 bp −$18.0K	664.8 bp −$332.4K
Sell MEXC live order book, 5 min ago	0.16 bp	1.8 bp −$2	9.0 bp −$90	28.0 bp −$2,798	81.9 bp −$41.0K

TAO on 42 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	−0.0185%	1h	315.28	−0.343%	$167K	$40K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	316.37	long leg	$126K	$84K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.53	+0.051%	$10K	—	150x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.93	+0.178%	$91.6M	$466.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	+0.295%	$26.3M	$114.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.80	+0.137%	$12.9M	$48.9M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	317.36	+0.314%	$104.0M	$137.1M	300x
KuCoin TAOUSDTM	+0.0100%	4h	316.98	+0.194%	$18.0M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.14	+0.245%	$35.4M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	317.02	+0.206%	$36K	$302K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TAO_USDC	+0.0100%	4h	316.83	+0.147%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.72	+0.112%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.81	+0.140%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.90	+0.169%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.17	+0.252%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	316.47	+0.033%	$673	$727K	5x	as long as short
ApeX Omni TAOUSDT	+0.0164%	1h	316.78	+0.131%	$47K	$252K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0166% / S +0.0103%	1h	316.52	+0.049%	$429K	—	100x	as long as short
Polymarket Perps TAO-USD	+0.0175%	1h	316.38	+0.004%	$76K	$721K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0198%	4h	317.41	+0.330%	$528K	$957K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.80	+0.137%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0275%	4h	316.88	+0.161%	$1.2M	$9.3M	50x	as long as short
Pacifica TAO	+0.0285%	1h	316.60	+0.073%	$374K	$393K	10x	as long as short
Popdex TAOUSDT	+0.0304%	1h	316.62	+0.080%	$43K	$642K	20x	as long as short
Arcus TAO-USD	+0.0337%	1h	317.08	+0.226%	$100K	$489K	5x	as long as short
Paradex TAO-USD-PERP	+0.0348%	8h	316.61	+0.076%	$14K	$1K	10x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	316.81	+0.140%	$3K	$4K	5x	as long as short
Bullet TAO-USD	+0.0450%	1h	316.88	+0.162%	$12K	$18K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0533%	1h	316.85	+0.152%	$14K	$1.6M	25x	as long as short
Phoenix TAO	+0.0588%	1h	318.30	+0.611%	$334K	$672K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0686%	1h	317.36	+0.314%	$321K	$805K	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.48	+0.035%	$364	—	20x	as long as short
BingX TAO-USDT	+0.0720%	4h	317.16	+0.251%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0722%	4h	317.32	+0.301%	$67.4M	$138.1M	50x	as long as short
Variational Omni TAO	+0.0848%	4h	316.96	+0.188%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0888%	1h	317.32	+0.302%	$896K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.226%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.63	+0.083%	$447K	$626K	5x	as long as short
Hyperliquid TAO	+0.1267%	1h	317.51	+0.362%	$100.0M	$97.3M	5x	as long as short
Nado TAO-PERP	+0.1313%	1h	316.67	+0.097%	$758K	$2.1M	10x	as long as short
Lighter TAO	+0.1424%	1h	317.31	+0.299%	$1.6M	$6.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.446%	$23K	$2K	12x	as long as short