Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h −0.013%

Price spread now: Deribit against HTX−0.029%7-day average +0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1641.645% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 3 days (all we have)+0.164%+$16 · spread now −0.029%, 7d avg +0.138%

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

Funding pays, the price is against you. Deribit is 0.167% cheaper against HTX than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of +0.138%). If the spread goes back, that is −$17 on $10k: about 4.0 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.155%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	303.27	0.0100	pay 0.0050% / 4h	1h 36m	$121K	$363K	20x
Short	Deribit TAO_USDC-PERPETUAL	303.18	0.0239	get 0.0030% / 1h	36m 31s	$21K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $29.19
Price spread: −0.029% → +0.138%: −$16.73
Slippage, 4 orders: −$145.49
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$152.03
Costs to cover: 1.645%
Break-even: 43.5 days

Slippage from HTX: live order book, 46 min ago; Deribit: live order book, 2 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, 46 min ago	34.46 bp	101.1 bp −$101	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	6.10 bp	9.9 bp −$10	doesn't fit	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	−0.0186%	1h	303.81	+0.178%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	302.17	−0.362%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.25	−0.335%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	302.48	−0.260%	$44K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	302.44	−0.274%	$84.7M	$412.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	302.45	−0.270%	$58.5M	$121.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	302.40	−0.287%	$24.4M	$94.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	302.63	−0.211%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	302.30	−0.320%	$12.1M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	302.37	−0.297%	$109.8M	$124.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	302.41	−0.284%	$18.2M	$27.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	302.27	−0.330%	$33.8M	$45.9M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	302.45	−0.270%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.66	+0.129%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.48	+0.068%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.75	+0.157%	$502K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.30	+0.010%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	302.44	−0.274%	$77K	$600K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	302.51	−0.251%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	302.38	−0.293%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.11	−0.053%	$2K	$1.8M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	303.27	long leg	$121K	$363K	20x
Phemex TAOUSDT	+0.0100%	4h	303.12	−0.049%	$3.2M	$7.8M	50x	as long as short
Aster TAOUSDT	+0.0102%	4h	302.40	−0.286%	$1.1M	$7.7M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.48	+0.069%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	302.59	−0.224%	$619	$491K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	302.14	−0.373%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	302.44	−0.273%	$357K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.23	−0.342%	$431K	—	100x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0239%	1h	303.18	−0.029%	$21K	$1.4M	25x
BloFin TAO-USDT	+0.0340%	4h	303.21	−0.020%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0368%	1h	303.17	−0.032%	$1.6M	$5.3M	5x	as long as short
Nado TAO-PERP	+0.0377%	1h	302.48	−0.261%	$816K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	302.47	−0.264%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0423%	1h	303.70	+0.142%	$378K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.10	+0.274%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	302.33	−0.309%	$348	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	302.11	−0.382%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.24	+0.320%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.23	−0.013%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1089%	1h	302.73	−0.178%	$91.9M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	302.65	−0.204%	$409K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.800%	$22K	$264	12x	as long as short