Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0432%/8h= −47.3% APRpaid last 24h 0.000%

Price spread now: SunX against dYdX−0.173%7-day average +0.038% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.173%, 7d avg +0.038%

Together, before fees+0.159%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and SunX is 0.211% cheaper against dYdX than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	324.25	0.0532	pay 0.0067% / 1h	2m 07s	$273K	$232K	5x
Short	SunX TAO-USDT	323.69	0.0100	get 0.0050% / 4h	3h 02m	$2K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$90.8
Price spread: −0.173% → +0.038%: −$21.05
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$129.85
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 32 min ago; SunX: live order book, 4 min ago. Net counts fees only.

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, 32 min ago	17.74 bp	22.7 bp −$23	33.9 bp −$339	122.2 bp −$12.2K	592.0 bp −$296.0K
Sell SunX live order book, 4 min ago	500.12 bp	doesn't fit	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
Bulk TAO-USD	−0.0241%	1h	318.85	−1.667%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	323.24	−0.311%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.27	+0.006%	$53K	$700K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	323.96	−0.089%	$71.3M	$154.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	−0.139%	$27.1M	$131.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.30	−0.293%	$15.4M	$51.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.85	−0.123%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.20	−0.324%	$36.5M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.10	−0.046%	$89K	$1.1M	5x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	323.69	−0.173%	$2K	$1.9M	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	323.88	−0.114%	$118K	$552K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.46	−0.244%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	324.14	−0.034%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.98	−0.083%	$178K	$998	3x	as long as short
MEXC TAO_USDT	+0.0156%	4h	323.82	−0.133%	$105.3M	$156.5M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	323.91	−0.104%	$94.8M	$519.1M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	323.42	−0.256%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.788%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0220%	8h	324.66	+0.126%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0242%	4h	323.90	−0.108%	$55K	$272K	10x	as long as short
Bullet TAO-USD	+0.0275%	1h	324.08	−0.053%	$13K	$17K	20x	as long as short
Extended TAO-USD	+0.0280%	1h	323.70	−0.170%	$983K	$2.2M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.842%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.817%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0323%	4h	323.75	−0.154%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	324.65	+0.123%	$378K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0370% / S −0.0109%	1h	323.38	−0.267%	$384K	—	100x	as long as short
Nado TAO-PERP	+0.0393%	1h	324.39	+0.044%	$764K	$2.0M	10x	as long as short
BloFin TAO-USDT	+0.0396%	4h	323.78	−0.145%	$4.8M	$11.0M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	324.57	+0.099%	$102K	$331K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0520%	1h	323.82	−0.131%	$20K	$1.9M	25x	as long as short
dYdX TAO-USDlong	+0.0532%	1h	324.25	long leg	$273K	$232K	5x
Variational Omni TAO	+0.0551%	4h	321.24	−0.928%	$5.7M	$9.8M	—	as long as short
Lighter TAO	+0.0568%	1h	323.94	−0.094%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	321.70	−0.786%	$324K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	324.80	+0.170%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0678%	1h	323.83	−0.128%	$97.8M	$109.7M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	323.70	−0.168%	$372	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0709%	1h	323.60	−0.200%	$321K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0769%	1h	323.86	−0.120%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	322.86	−0.429%	$440K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.78	+0.163%	$1.1M	$7.6M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	−0.503%	$23K	$2K	12x	as long as short