Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h −0.615%

Price spread now: Aster against Injective+0.176%97s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Aster is 0.176% dearer against Injective than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 97 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	Injective TAO/USDC PERP	312.08	0.0033	pay 0.0004% / 1h	7m 44s	$23K	$362	12x
Short	Aster TAOUSDT	312.63	0.0164	get 0.0082% / 4h	7m 44s	$1.1M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.176%Rate

Funding earned: $27.41
Price spread: +0.176% → 0.000%: $17.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $37.01
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 1 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	1.92 bp	8.0 bp −$8	27.1 bp −$271	282.4 bp −$28.2K	doesn't fit

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	−0.2086%	1h	311.96	−0.038%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.79	+0.228%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.65	+0.181%	$27K	—	150x	as long as short
Injective TAO/USDC PERPlong	+0.0033%	1h	312.08	long leg	$23K	$362	12x
Popdex TAOUSDT	+0.0096%	1h	313.10	+0.327%	$37K	$565K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.06	+0.314%	$370K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.61	+0.169%	$88.7M	$428.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.92	+0.269%	$61.6M	$125.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.70	+0.199%	$25.1M	$101.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.60	+0.167%	$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	312.68	+0.192%	$110.9M	$131.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.72	+0.205%	$18.5M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.55	+0.151%	$35.0M	$47.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.78	+0.224%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.46	−0.199%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.82	+0.236%	$523K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.38	−0.224%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.03	+0.304%	$77K	$450K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.90	+0.263%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.78	+0.224%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.70	+0.199%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.02	+0.301%	$128K	$417K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.76	+0.218%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.08	+0.322%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	313.11	+0.330%	$1K	$565K	5x	as long as short
Aster TAOUSDTshort	+0.0164%	4h	312.63	+0.176%	$1.1M	$7.9M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	312.59	+0.164%	$446K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.20	+0.359%	$83K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0194%	8h	312.83	+0.241%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0216%	4h	312.58	+0.160%	$3.9M	$7.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	312.84	+0.243%	$20K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.13	+0.336%	$4.3M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0431%	1h	312.97	+0.286%	$822K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.89	+0.259%	$5.7M	$19.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0526%	1h	313.08	+0.320%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	+0.135%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	313.26	+0.378%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.79	+0.226%	$360	—	20x	as long as short
Extended TAO-USD	+0.0840%	1h	312.74	+0.210%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.32	+0.397%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1208%	1h	313.15	+0.344%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.01	+0.298%	$414K	$585K	5x	as long as short
Hyperliquid TAO	+0.1587%	1h	313.25	+0.375%	$98.2M	$84.6M	5x	as long as short