Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.027%

Price spread now: OKX against dYdX−0.243%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$990.993% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.243%, 7d avg +0.012%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.255% cheaper against dYdX than usual: you would sell low and buy high (spread −0.243% now, against its 7-day average of +0.012%). If the spread goes back, that is −$26 on $10k: about 8.5 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.136%, 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	312.26	0	get 0.0000% / 1h	26m 31s	$125K	$88K	5x
Short	OKX TAO-USDT-SWAP	311.50	0.0100	get 0.0100% / 8h	26m 31s	$25.2M	$101.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.243%Rate

Funding earned: $21
Price spread: −0.243% → +0.012%: −$25.5
Slippage, 4 orders: −$79.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$103.77
Costs to cover: 0.993%
Break-even: 41.6 days

Slippage from dYdX: live order book, 52 min ago; OKX: 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, 52 min ago	36.40 bp	41.4 bp −$41	55.7 bp −$557	168.0 bp −$16.8K	1238.5 bp −$619.2K
Sell OKX live order book, 2 min ago	1.60 bp	6.6 bp −$7	14.3 bp −$143	49.1 bp −$4,915	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	−0.4493%	1h	315.57	+1.060%	$169K	$47K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	312.26	long leg	$125K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.37	−0.286%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.861%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.45	−0.259%	$35K	$565K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.18	−0.024%	$369K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.50	−0.244%	$88.3M	$427.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.73	−0.170%	$61.2M	$125.0M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	311.50	−0.243%	$25.2M	$101.2M	50x
Gate TAO_USDT	+0.0100%	4h	311.40	−0.275%	$12.4M	$49.9M	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	311.75	−0.163%	$110.0M	$130.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.52	−0.237%	$18.7M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.39	−0.279%	$34.7M	$46.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.74	−0.167%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.93	+0.535%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.05	+0.252%	$519K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.484%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.81	−0.144%	$76K	$489K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.60	−0.211%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.33	+0.343%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.14	+0.282%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.59	+0.426%	$127K	$402K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.26	+0.320%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.49	+0.394%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.47	−0.253%	$1K	$555K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	311.97	−0.093%	$82K	$586K	5x	as long as short
Aster TAOUSDT	+0.0190%	4h	311.94	−0.102%	$1.1M	$7.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0191%	8h	311.71	−0.176%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0196%	1h	313.29	+0.329%	$21K	$1.5M	25x	as long as short
Variational Omni TAO	+0.0200%	4h	313.88	+0.518%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.32	+0.339%	$4.4M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0447%	1h	311.39	−0.278%	$822K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	313.19	+0.299%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.18	+0.294%	$449K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0524%	1h	313.66	+0.448%	$293K	$804K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+0.621%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	311.64	−0.199%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.62	−0.204%	$358	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	311.61	−0.209%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.27	+0.323%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	312.64	+0.121%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.66	−0.193%	$434K	$567K	5x	as long as short
Hyperliquid TAO	+0.1723%	1h	312.15	−0.035%	$97.4M	$83.9M	5x	as long as short