Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against edgeX+0.115%119s7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$440.435% of the position

Long on edgeX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.403%−$40 · spread now +0.115%, 7d avg −0.007%

Together, before fees−0.406%+ Points / potential airdropedgeX: Active · farm board−$41 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: Popdex is 0.122% dearer against edgeX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.007%. The two prices were read 119 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	313.44	0.0100	pay 0.0050% / 4h	47m 38s	$41K	$280K	10x
Short	Popdex TAOUSDT	313.80	0.0096	get 0.0012% / 1h	47m 38s	$40K	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$0.84
Price spread: +0.115% → −0.007%: $12.2
Slippage, 4 orders: −$28.12
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$32.16
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from edgeX: live order book, 30 min ago; Popdex: live order book, 31 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, 30 min ago	6.54 bp	11.0 bp −$11	23.4 bp −$234	doesn't fit	doesn't fit
Sell Popdex live order book, 31 min ago	3.43 bp	10.5 bp −$11	84.7 bp −$847	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	+0.183%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.20	+0.243%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.44	+0.001%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.303%	$23K	$260	12x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	313.80	+0.115%	$40K	$549K	20x
Pacifica TAO	+0.0100%	1h	314.48	+0.332%	$372K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.43	+0.316%	$89.0M	$421.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.47	+0.329%	$61.6M	$123.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.30	+0.275%	$25.1M	$100.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.10	+0.211%	$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	314.33	+0.284%	$121.5M	$126.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.62	+0.377%	$19.1M	$27.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.78	+0.109%	$35.1M	$46.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.90	+0.147%	—	$30.2M	—	as long as short
edgeX TAOUSDClong	+0.0100%	4h	313.44	long leg	$41K	$280K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	314.12	+0.216%	$519K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.37	−0.022%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.53	+0.029%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.43	−0.003%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.28	−0.051%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.25	−0.060%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.76	+0.101%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.91	+0.150%	$2K	$537K	5x	as long as short
Polymarket Perps TAO-USD	+0.0117%	1h	313.81	+0.118%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0141%	1h	313.71	+0.086%	$11K	$17K	20x	as long as short
Variational Omni TAO	+0.0173%	4h	313.59	+0.047%	$3.8M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	314.25	+0.258%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.16	+0.230%	$83K	$626K	5x	as long as short
Aster TAOUSDT	+0.0209%	4h	313.80	+0.116%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0327%	1h	313.60	+0.050%	$19K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.07	+0.201%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.59	+0.048%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.41	−0.011%	$449K	—	100x	as long as short
Nado TAO-PERP	+0.0502%	1h	313.65	+0.068%	$843K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.70	−0.236%	$334K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0576%	1h	313.55	+0.035%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.66	+0.070%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	314.27	+0.265%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0840%	1h	313.85	+0.132%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.20	+0.243%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.06	+0.199%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1544%	1h	314.86	+0.453%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2174%	1h	314.79	+0.431%	$98.5M	$82.8M	5x	as long as short