Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against edgeX−0.184%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 3 days (all we have)+0.258%+$26 · spread now −0.184%, 7d avg +0.024%

Together, before fees−0.204%+ Points / potential airdropedgeX: Active · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.208% cheaper against edgeX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	313.65	0.0100	pay 0.0050% / 4h	47m 06s	$41K	$280K	10x
Short	Phemex TAOUSDT	313.07	0.0100	get 0.0050% / 4h	47m 06s	$3.3M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.184%Rate

Funding earned: $0
Price spread: −0.184% → +0.024%: −$20.78
Slippage, 4 orders: −$50.85
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.63
Costs to cover: 0.719%
Break-even: never at this rate

Slippage from edgeX: live order book, 31 min ago; Phemex: 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 edgeX live order book, 31 min ago	6.54 bp	11.0 bp −$11	23.4 bp −$234	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	13.56 bp	24.3 bp −$24	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	−0.4722%	1h	314.01	+0.117%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.20	+0.177%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.04	−0.192%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.237%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.80	+0.049%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	314.48	+0.266%	$372K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.29	−0.113%	$88.7M	$421.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.32	−0.104%	$61.4M	$123.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.20	−0.142%	$25.1M	$100.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	−0.142%	$12.7M	$49.0M	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	313.26	−0.123%	$121.1M	$126.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.30	−0.110%	$19.0M	$27.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.13	−0.164%	$35.0M	$46.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.23	−0.133%	—	$30.2M	—	as long as short
edgeX TAOUSDClong	+0.0100%	4h	313.65	long leg	$41K	$280K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.168%	$519K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.37	−0.088%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.20	−0.142%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.18	−0.148%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.88	+0.075%	$128K	$394K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	313.07	−0.184%	$3.3M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	313.37	−0.089%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.91	+0.084%	$2K	$537K	5x	as long as short
Polymarket Perps TAO-USD	+0.0123%	1h	313.86	+0.068%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0145%	1h	313.41	−0.074%	$11K	$17K	20x	as long as short
Variational Omni TAO	+0.0173%	4h	313.59	−0.019%	$3.8M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	314.25	+0.192%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.16	+0.164%	$83K	$626K	5x	as long as short
Aster TAOUSDT	+0.0209%	4h	313.23	−0.133%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0233%	1h	313.11	−0.170%	$24K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.41	−0.075%	$4.3M	$9.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.34	−0.097%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.06	−0.188%	$450K	—	100x	as long as short
Nado TAO-PERP	+0.0506%	1h	313.65	+0.002%	$843K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	313.80	+0.049%	$328K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.31	−0.107%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.47	−0.056%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	314.27	+0.199%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0848%	1h	313.13	−0.166%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.43	+0.250%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.06	+0.133%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1504%	1h	313.80	+0.048%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2149%	1h	313.84	+0.062%	$98.2M	$82.8M	5x	as long as short