Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.065%

Price spread now: BingX against Extended+0.049%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.049%, 7d avg +0.030%

Together, before fees−0.129%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TAO-USD	314.98	0.0208	pay 0.0026% / 1h	58m 30s	$923K	$2.4M	25x
Short	BingX TAO-USDT	315.13	0.0100	get 0.0050% / 4h	3h 58m	—	$32.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$22.68
Price spread: +0.049% → +0.030%: $1.89
Slippage, 4 orders: −$11.69
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.48
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; BingX: live order book, 5 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, 5 min ago	3.49 bp	6.0 bp −$6	8.2 bp −$82	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	0.63 bp	8.4 bp −$8	14.3 bp −$143	22.0 bp −$2,204	51.8 bp −$25.9K

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	−0.0345%	1h	314.66	−0.100%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.60	−0.119%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.96	−0.006%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.03	+0.017%	$43K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.91	−0.021%	$2K	$801K	5x	as long as short
Pacifica TAO	+0.0100%	1h	314.99	+0.003%	$359K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.12	+0.045%	$91.0M	$495.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.26	+0.090%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.10	+0.039%	$26.0M	$120.7M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	−0.056%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	314.80	−0.056%	$13.0M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.08	+0.033%	$101.0M	$143.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.01	+0.011%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.80	−0.056%	$35.2M	$56.5M	50x	as long as short
BingX TAO-USDTshort	+0.0100%	4h	315.13	+0.049%	—	$32.9M	—
edgeX TAOUSDC	+0.0100%	4h	315.12	+0.045%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.30	+0.103%	$535K	$969K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.19	+0.068%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.90	−0.024%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.19	+0.069%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.79	−0.059%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.46	−0.164%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	−0.053%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.86	−0.035%	$173K	$998	3x	as long as short
Hyperliquid TAO	+0.0123%	1h	315.23	+0.081%	$92.7M	$106.7M	5x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	315.21	+0.074%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	314.62	−0.112%	$427K	—	100x	as long as short
Nado TAO-PERP	+0.0144%	1h	315.13	+0.050%	$801K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0147%	8h	315.13	+0.048%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0152%	4h	314.95	−0.008%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USDlong	+0.0208%	1h	314.98	long leg	$923K	$2.4M	25x
Arcus TAO-USD	+0.0231%	1h	315.24	+0.084%	$101K	$440K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0274%	1h	314.75	−0.072%	$313K	$914K	10x	as long as short
Lighter TAO	+0.0312%	1h	315.22	+0.078%	$1.5M	$6.4M	5x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	315.02	+0.014%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.69	−0.091%	$4.5M	$10.9M	100x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.058%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0427%	1h	314.82	−0.050%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.166%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.06	+0.028%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	314.97	−0.002%	$437K	$652K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	315.53	+0.176%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+0.855%	$23K	$2K	12x	as long as short