Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0820%/8h= −89.8% APRpaid last 24h −0.060%

Price spread now: Binance against Extended+0.024%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.024%, 7d avg +0.035%

Together, before fees−0.175%+ Points / potential airdropExtended: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.161% in total (about -8.4% 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	Extended TAO-USD	320.65	0.0920	pay 0.0115% / 1h	40m 31s	$937K	$2.3M	25x
Short	Binance TAOUSDT	320.73	0.0100	get 0.0050% / 4h	1h 40m	$92.9M	$471.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.024%Rate

Funding earned: −$172.2
Price spread: +0.024% → +0.035%: −$1.09
Slippage, 4 orders: −$14.4
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$202.69
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: 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 Extended live order book, 3 min ago	2.98 bp	7.0 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.16 bp	8.1 bp −$8	15.8 bp −$158	34.2 bp −$3,419	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	−0.3652%	1h	316.49	−1.298%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	320.00	−0.203%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.92	−0.229%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.71	+0.018%	$44K	$654K	20x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	320.73	+0.024%	$92.9M	$471.8M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	320.20	−0.141%	$26.5M	$117.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.50	−0.047%	$13.1M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.71	+0.018%	$107.1M	$139.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.90	−0.234%	$18.1M	$30.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.94	−0.222%	$35.7M	$53.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	318.60	−0.641%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.42	−0.072%	$74K	$764K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	320.11	−0.169%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.90	−0.234%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.98	−0.210%	$130K	$478K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.93	−0.225%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.98	−0.211%	$176K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	320.65	−0.001%	$681	$754K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0163% / S +0.0106%	1h	320.08	−0.178%	$435K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0224%	4h	318.95	−0.530%	$526K	$955K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0245%	1h	319.88	−0.241%	$5.6M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0289%	1h	320.50	−0.047%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0330%	4h	320.14	−0.160%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0331%	8h	320.76	+0.033%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	320.59	−0.019%	$4.5M	$10.7M	100x	as long as short
Pacifica TAO	+0.0448%	1h	320.39	−0.081%	$378K	$396K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0453%	1h	319.86	−0.247%	$17K	$1.6M	25x	as long as short
Phoenix TAO	+0.0504%	1h	318.90	−0.546%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	321.05	+0.124%	$101K	$489K	5x	as long as short
Nado TAO-PERP	+0.0527%	1h	320.35	−0.096%	$773K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0642%	4h	320.74	+0.027%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0648%	4h	320.55	−0.032%	$68.3M	$140.0M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	320.07	−0.183%	$368	—	20x	as long as short
01 Exchange TAOUSD	+0.0784%	1h	321.39	+0.230%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0878%	4h	320.22	−0.135%	$5.9M	$9.7M	—	as long as short
ApeX Omni TAOUSDT	+0.0883%	1h	318.78	−0.584%	$47K	$253K	50x	as long as short
Lighter TAO	+0.0896%	1h	320.52	−0.042%	$1.6M	$6.3M	5x	as long as short
Extended TAO-USDlong	+0.0920%	1h	320.65	long leg	$937K	$2.3M	25x
Backpack TAO_USDC_PERP	+0.0981%	1h	320.10	−0.172%	$440K	$860K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	320.00	−0.203%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	320.74	+0.026%	$455K	$627K	5x	as long as short
Hyperliquid TAO	+0.1400%	1h	320.57	−0.026%	$100.6M	$98.9M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	319.69	−0.300%	$23K	$2K	12x	as long as short