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 Gate−0.201%7-day average +0.032% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Gate 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 4 days (all we have)+0.195%+$20 · spread now −0.201%, 7d avg +0.032%

Together, before fees+0.193%+$19 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 0.233% cheaper against Gate than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	318.00	0.0100	pay 0.0050% / 4h	0m 06s	$12.8M	$50.8M	50x
Short	Popdex TAOUSDT	317.36	0.0096	get 0.0012% / 1h	0m 06s	$39K	$569K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.201%Rate

Funding earned: −$0.84
Price spread: −0.201% → +0.032%: −$23.32
Slippage, 4 orders: −$35.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$81.54
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Popdex: live order book, 14 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, 4 min ago	3.16 bp	16.5 bp −$16	42.7 bp −$427	60.4 bp −$6,044	95.5 bp −$47.7K
Sell Popdex live order book, 14 min ago	1.12 bp	11.3 bp −$11	89.1 bp −$891	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	−0.2086%	1h	311.96	−1.899%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.45	−0.172%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.25	−0.235%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	315.12	−0.906%	$23K	$374	12x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	317.36	−0.201%	$39K	$569K	20x
Pacifica TAO	+0.0100%	1h	317.87	−0.041%	$376K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.71	+0.225%	$90.4M	$433.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.45	+0.456%	$65.6M	$128.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.20	+0.377%	$25.7M	$105.4M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	318.00	long leg	$12.8M	$50.8M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	318.08	+0.025%	$113.7M	$133.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.65	−0.110%	$18.9M	$28.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.02	+0.006%	$35.6M	$47.8M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	318.00	0.000%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.07	−0.607%	$41K	$282K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.90	−1.605%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.22	−0.560%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	317.83	−0.053%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.86	−0.044%	$61K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.96	−0.013%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	−0.075%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.87	−0.041%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.31	+0.096%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	317.54	−0.145%	$2K	$577K	5x	as long as short
Polymarket Perps TAO-USD	+0.0122%	1h	317.67	−0.104%	$77K	$450K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	317.46	−0.168%	$453K	—	100x	as long as short
Aster TAOUSDT	+0.0182%	4h	318.33	+0.102%	$1.1M	$8.0M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	318.05	+0.016%	$84K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0204%	8h	317.78	−0.069%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0233%	4h	316.35	−0.518%	$5.4M	$8.5M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	318.04	+0.013%	$30K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.54	−0.145%	$4.4M	$10.7M	100x	as long as short
Nado TAO-PERP	+0.0417%	1h	317.33	−0.211%	$861K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0442%	1h	318.08	+0.025%	$5.8M	$19.9M	50x	as long as short
Phoenix TAO	+0.0537%	1h	316.20	−0.566%	$331K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0562%	1h	318.31	+0.097%	$317K	$816K	10x	as long as short
01 Exchange TAOUSD	+0.0592%	1h	317.98	−0.006%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	317.42	−0.183%	$365	—	20x	as long as short
Extended TAO-USD	+0.0912%	1h	318.12	+0.037%	$900K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	318.22	+0.069%	$1.5M	$5.9M	50x	as long as short
Lighter TAO	+0.1208%	1h	318.52	+0.165%	$1.7M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	317.81	−0.059%	$421K	$584K	5x	as long as short
Hyperliquid TAO	+0.1601%	1h	318.78	+0.245%	$101.7M	$85.8M	5x	as long as short