Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: dYdX against edgeX−0.604%51s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as 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−$980.978% of the position

Long on edgeX Short on dYdX

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)+0.055%+$6 · spread now −0.604%, 7d avg −0.043%

Together, before fees+0.191%+ Points / potential airdropedgeX: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.560% cheaper against edgeX than usual: you would sell low and buy high (−$56 if the spread goes back to its 7-day average of −0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you. The two prices were read 51 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	edgeX TAOUSDC	314.18	0.0100	pay 0.0050% / 4h	3h 50m	$42K	$312K	10x
Short	dYdX TAO-USD	312.28	0	get 0.0000% / 1h	50m 34s	$125K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against edgeX. 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 edgeXbpFee dYdXbpOrdersPrice spread, now −0.604%Rate

Funding earned: −$21
Price spread: −0.604% → −0.043%: −$56.03
Slippage, 4 orders: −$78.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$174.83
Costs to cover: 0.978%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; dYdX: live order book, 3 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 edgeX live order book, 2 min ago	4.77 bp	9.3 bp −$9	24.3 bp −$243	doesn't fit	doesn't fit
Sell dYdX live order book, 3 min ago	31.65 bp	36.7 bp −$37	43.0 bp −$430	149.9 bp −$15.0K	558.3 bp −$279.1K

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
Kraken Futures PF_TAOUSD	−0.0348%	1h	312.05	−0.678%	$5.5M	$20.6M	50x	as long as short
Gate TAO_USDT	−0.0044%	4h	312.10	−0.661%	$13.0M	$49.3M	50x	as long as short
dYdX TAO-USDshort	0.0000%	1h	312.28	−0.604%	$125K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.20	−0.629%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.71	−0.785%	$43K	$653K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.59	−0.823%	$638	$808K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.48	−0.540%	$356K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.66	−0.801%	$89.8M	$496.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.73	−0.779%	$67.2M	$149.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.60	−0.820%	$25.9M	$119.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	+0.0100%	1h	315.10	+0.294%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.16	−0.642%	$101.0M	$143.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.41	−0.562%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.17	−0.957%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.21	−0.626%	—	$33.0M	—	as long as short
edgeX TAOUSDClong	+0.0100%	4h	314.18	long leg	$42K	$312K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	314.25	+0.023%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.41	−0.881%	$80K	$867K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.74	−0.776%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.24	−0.616%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.74	−0.776%	$109K	$536K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.30	−0.598%	$172K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0112%	4h	314.50	+0.104%	$533K	$955K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	312.18	−0.636%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0126%	4h	312.42	−0.558%	$1.2M	$10.4M	50x	as long as short
Hyperliquid TAO	+0.0129%	1h	311.71	−0.784%	$91.4M	$106.8M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0142% / S +0.0125%	1h	312.15	−0.645%	$424K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0142%	8h	312.26	−0.611%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0184%	1h	312.11	−0.657%	$918K	$2.4M	25x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0230%	1h	312.20	−0.628%	$21K	$1.7M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.49	−0.537%	$101K	$441K	5x	as long as short
Nado TAO-PERP	+0.0266%	1h	311.60	−0.819%	$791K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.43	−0.556%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0346%	4h	312.61	−0.499%	$5.6M	$10.0M	—	as long as short
Lighter TAO	+0.0384%	1h	312.76	−0.451%	$1.5M	$6.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0388%	1h	312.25	−0.613%	$310K	$914K	10x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	311.86	−0.737%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	313.90	−0.088%	$312K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.65	−0.805%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.14	−0.648%	$433K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.56	−0.515%	$1.5M	$6.6M	50x	as long as short
Phemex TAOUSDT	+0.1673%	4h	312.34	−0.585%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.020%	$23K	$2K	12x	as long as short