Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h 0.000%

Price spread now: dYdX against Gate+0.006%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$990.987% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.006%, 7d avg −0.010%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.108%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	317.90	0.0100	pay 0.0050% / 4h	3h 57m	$14.8M	$48.8M	50x
Short	dYdX TAO-USD	317.92	0	get 0.0000% / 1h	57m 38s	$128K	$86K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$21
Price spread: +0.006% → −0.010%: $1.58
Slippage, 4 orders: −$73.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$118.14
Costs to cover: 0.987%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; dYdX: live order book, 41 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 Gate live order book, 1 min ago	3.14 bp	17.9 bp −$18	42.6 bp −$426	61.1 bp −$6,106	95.7 bp −$47.9K
Sell dYdX live order book, 41 min ago	27.37 bp	33.3 bp −$33	54.5 bp −$545	143.9 bp −$14.4K	571.4 bp −$285.7K

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
Phemex TAOUSDT	−0.0614%	4h	317.83	−0.022%	$3.2M	$8.1M	50x	as long as short
dYdX TAO-USDshort	0.0000%	1h	317.92	+0.006%	$128K	$86K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.76	−0.045%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.33	+0.135%	$49K	$719K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	317.97	+0.022%	$651	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.10	+0.063%	$26.5M	$131.7M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.09	−0.255%	$168K	$0	10x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	317.90	long leg	$14.8M	$48.8M	50x
KuCoin TAOUSDTM	+0.0100%	4h	318.03	+0.041%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.01	+0.035%	$35.8M	$57.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	318.05	+0.047%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.88	−0.006%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.69	−0.066%	$116K	$590K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0102% / S +0.0141%	1h	317.74	−0.050%	$405K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.26	+0.112%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0137%	1h	317.45	−0.142%	$46K	$259K	50x	as long as short
Bullet TAO-USD	+0.0173%	1h	317.80	−0.031%	$12K	$17K	20x	as long as short
Nado TAO-PERP	+0.0174%	1h	318.25	+0.111%	$779K	$2.0M	10x	as long as short
MEXC TAO_USDT	+0.0174%	4h	318.38	+0.151%	$104.4M	$151.1M	300x	as long as short
Binance TAOUSDT	+0.0175%	4h	318.36	+0.145%	$93.1M	$532.7M	75x	as long as short
Orderly PERP_TAO_USDC	+0.0187%	4h	317.95	+0.016%	$52K	$295K	10x	as long as short
edgeX TAOUSDC	+0.0189%	4h	317.56	−0.106%	$42K	$321K	10x	as long as short
Bybit TAOUSDT	+0.0244%	4h	318.44	+0.170%	$70.0M	$157.0M	50x	as long as short
Paradex TAO-USD-PERP	+0.0249%	8h	318.33	+0.136%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0280%	4h	318.25	+0.110%	—	$37.3M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0287%	1h	318.02	+0.037%	$15K	$1.9M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0300%	4h	318.61	+0.223%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0330%	4h	318.25	+0.110%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	318.36	+0.145%	$373K	$454K	10x	as long as short
Extended TAO-USD	+0.0352%	1h	318.10	+0.063%	$904K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0404%	1h	318.44	+0.170%	$100K	$377K	5x	as long as short
BloFin TAO-USDT	+0.0417%	4h	318.13	+0.072%	$4.8M	$11.0M	100x	as long as short
Hyperliquid TAO	+0.0437%	1h	318.29	+0.123%	$94.1M	$110.3M	5x	as long as short
Variational Omni TAO	+0.0581%	4h	318.88	+0.309%	$5.6M	$10.1M	—	as long as short
01 Exchange TAOUSD	+0.0592%	1h	318.50	+0.189%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0629%	1h	318.20	+0.094%	$320K	$699K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.03	+0.042%	$366	—	20x	as long as short
Lighter TAO	+0.0720%	1h	318.52	+0.195%	$1.6M	$6.6M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0783%	1h	317.91	+0.003%	$6.0M	$21.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0832%	1h	317.71	−0.060%	$434K	$992K	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	318.21	+0.098%	$448K	$669K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	318.18	+0.088%	$1.2M	$7.3M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.44	+1.428%	$23K	$2K	12x	as long as short