Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.659%

Price spread now: Injective against HTX−1.735%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.446%+$345 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.735% cheaper against HTX than usual: you would sell low and buy high (−$173 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.446%, 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	HTX TAO-USDT	314.18	0.0100	pay 0.0050% / 4h	54m 24s	$128K	$389K	20x
Short	Injective TAO/USDC PERP	308.73	0.0033	get 0.0004% / 1h	54m 24s	$22K	$259	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.735%Rate

Funding earned: −$14
Price spread: −1.735% → 0.000%: −$173.47
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$199.49
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 24 min ago; Injective: no order-book sample. Net counts fees only.

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, 24 min ago	25.13 bp	88.3 bp −$88	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1120%	1h	305.94	−2.623%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.05	−0.360%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.74	−0.776%	$21K	—	150x	as long as short
Injective TAO/USDC PERPshort	+0.0033%	1h	308.73	−1.735%	$22K	$259	12x
Popdex TAOUSDT	+0.0096%	1h	311.77	−0.767%	$40K	$555K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.43	−0.239%	$370K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.99	−0.698%	$88.3M	$420.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.08	−0.668%	$60.8M	$123.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.90	−0.726%	$25.0M	$99.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.70	−0.789%	$12.5M	$48.5M	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	311.83	−0.748%	$119.2M	$125.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.78	−0.764%	$19.0M	$27.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.61	−0.818%	$34.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.92	−0.719%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.12	−0.020%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.40	+0.071%	$520K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.85	−0.742%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.93	−0.080%	$2K	$1.8M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	314.18	long leg	$128K	$389K	20x
Phemex TAOUSDT	+0.0100%	4h	313.69	−0.156%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.12	−0.018%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	311.59	−0.824%	$824	$528K	5x	as long as short
Bullet TAO-USD	+0.0112%	1h	312.00	−0.694%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0112%	1h	311.92	−0.719%	$76K	$539K	5x	as long as short
Variational Omni TAO	+0.0177%	4h	314.40	+0.071%	$3.9M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	313.07	−0.352%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.22	−0.624%	$81K	$644K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0211%	1h	314.05	−0.040%	$19K	$1.4M	25x	as long as short
Aster TAOUSDT	+0.0214%	4h	311.96	−0.706%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.05	−0.041%	$4.3M	$9.8M	100x	as long as short
ApeX Omni TAOUSDT	+0.0361%	1h	314.07	−0.035%	$47K	$269K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0447%	1h	314.06	−0.037%	$5.8M	$19.7M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	311.67	−0.798%	$447K	—	100x	as long as short
Phoenix TAO	+0.0521%	1h	313.80	−0.121%	$328K	$521K	5x	as long as short
Nado TAO-PERP	+0.0619%	1h	311.90	−0.726%	$835K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0644%	1h	314.18	0.000%	$301K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.77	−0.768%	$359	—	20x	as long as short
Extended TAO-USD	+0.0776%	1h	311.80	−0.756%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0936%	1h	312.29	−0.602%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.52	+0.108%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.89	−0.729%	$429K	$536K	5x	as long as short
Lighter TAO	+0.1384%	1h	313.69	−0.156%	$1.6M	$5.7M	5x	as long as short
Hyperliquid TAO	+0.2314%	1h	312.47	−0.544%	$97.8M	$82.6M	5x	as long as short