Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against HTX−0.157%53s7-day average +0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

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

costs, in and out, $10k−$1511.507% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 3 days (all we have)+0.312%+$31 · spread now −0.157%, 7d avg +0.140%

Together, before fees+0.367%+$37 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: Bybit is 0.297% cheaper against HTX than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.140%. The two prices were read 53 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	HTX TAO-USDT	312.80	0.0100	pay 0.0050% / 4h	6m 18s	$128K	$417K	20x
Short	Bybit TAOUSDT	312.31	0.0100	get 0.0050% / 4h	6m 18s	$61.5M	$125.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → +0.140%: −$29.7
Slippage, 4 orders: −$127.69
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$180.38
Costs to cover: 1.507%
Break-even: never at this rate

Slippage from HTX: live order book, 7 min ago; Bybit: 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 HTX live order book, 7 min ago	18.94 bp	105.2 bp −$105	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.16 bp	9.7 bp −$10	17.0 bp −$170	38.0 bp −$3,800	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	−0.269%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.23	−0.182%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	311.95	−0.273%	$27K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	312.08	−0.230%	$23K	$362	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.67	−0.042%	$37K	$565K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.58	−0.071%	$369K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.16	−0.205%	$88.6M	$429.0M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	312.31	−0.157%	$61.5M	$125.5M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	−0.192%	$25.1M	$101.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.30	−0.160%	$12.5M	$50.4M	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	312.49	−0.099%	$110.8M	$131.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.28	−0.166%	$18.5M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.03	−0.246%	$34.9M	$47.1M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.20	−0.192%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.12	+0.102%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.31	+0.164%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.79	−0.003%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.79	−0.003%	$77K	$450K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.25	−0.175%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.05	−0.240%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.94	−0.275%	$2K	$1.8M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	312.80	long leg	$128K	$417K	20x
Phemex TAOUSDT	+0.0100%	4h	313.25	+0.144%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.45	−0.112%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	312.61	−0.061%	$1K	$565K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0156%	1h	312.12	−0.219%	$20K	$1.5M	25x	as long as short
Aster TAOUSDT	+0.0164%	4h	312.52	−0.090%	$1.1M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	311.88	−0.294%	$445K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.84	+0.013%	$83K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0193%	8h	312.53	−0.087%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−0.156%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.62	+0.262%	$4.4M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0435%	1h	312.44	−0.116%	$821K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0450%	1h	312.38	−0.135%	$5.7M	$19.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0527%	1h	313.42	+0.198%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	−0.096%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0592%	1h	312.85	+0.016%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.44	−0.114%	$359	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	312.15	−0.208%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.96	+0.371%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1200%	1h	312.84	+0.012%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.59	−0.067%	$414K	$585K	5x	as long as short
Hyperliquid TAO	+0.1587%	1h	313.09	+0.093%	$98.2M	$84.6M	5x	as long as short