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 −0.657%

Price spread now: Binance against Injective+1.269%7-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 Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−3.459%−$346 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 1.269% dearer against Injective than usual: you sell high and buy low: +$127 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −3.459%, 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	Injective TAO/USDC PERP	308.73	0.0033	pay 0.0004% / 1h	52m 57s	$22K	$259	12x
Short	Binance TAOUSDT	312.65	0.0100	get 0.0050% / 4h	52m 57s	$88.5M	$420.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +1.269%Rate

Funding earned: $14
Price spread: +1.269% → 0.000%: $126.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $130.87
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 6 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 Binance live order book, 6 min ago	0.16 bp	7.9 bp −$8	14.8 bp −$148	35.9 bp −$3,585	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	−0.1120%	1h	305.94	−0.904%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.07	+1.082%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.34	+1.169%	$21K	—	150x	as long as short
Injective TAO/USDC PERPlong	+0.0033%	1h	308.73	long leg	$22K	$259	12x
Popdex TAOUSDT	+0.0096%	1h	312.84	+1.331%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.21	+1.127%	$369K	$370K	10x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	312.65	+1.269%	$88.5M	$420.8M	75x
Bybit TAOUSDT	+0.0100%	4h	312.78	+1.312%	$61.0M	$123.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.60	+1.254%	$25.1M	$99.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	+1.189%	$12.5M	$48.6M	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	312.63	+1.263%	$119.6M	$125.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.68	+1.279%	$19.0M	$27.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.41	+1.192%	$35.0M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.69	+1.283%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.17	+1.761%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.25	+1.789%	$520K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.46	+1.208%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.43	+1.198%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.84	+1.331%	$128K	$393K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.21	+1.127%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.58	+1.245%	$172K	$998	3x	as long as short
Bullet TAO-USD	+0.0106%	1h	312.58	+1.247%	$11K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.69	+1.283%	$3K	$536K	5x	as long as short
Polymarket Perps TAO-USD	+0.0134%	1h	312.68	+1.279%	$77K	$524K	5x	as long as short
Variational Omni TAO	+0.0177%	4h	314.40	+1.837%	$3.9M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0185%	8h	311.88	+1.019%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.50	+1.221%	$81K	$644K	5x	as long as short
Aster TAOUSDT	+0.0202%	4h	312.56	+1.240%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.50	+1.221%	$4.3M	$9.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0358%	1h	312.56	+1.242%	$19K	$1.4M	25x	as long as short
ApeX Omni TAOUSDT	+0.0361%	1h	314.07	+1.730%	$47K	$269K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0450%	1h	312.52	+1.229%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.22	+1.131%	$448K	—	100x	as long as short
Phoenix TAO	+0.0537%	1h	312.70	+1.286%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0544%	1h	312.73	+1.296%	$299K	$798K	10x	as long as short
Nado TAO-PERP	+0.0552%	1h	312.73	+1.296%	$837K	$2.0M	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.59	+1.251%	$359	—	20x	as long as short
Extended TAO-USD	+0.0792%	1h	312.55	+1.236%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0896%	1h	312.28	+1.150%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	312.86	+1.338%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.43	+1.198%	$430K	$536K	5x	as long as short
Lighter TAO	+0.1352%	1h	312.94	+1.363%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2294%	1h	313.30	+1.480%	$98.1M	$82.7M	5x	as long as short