Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3107%/8h= −340.3% APRpaid last 24h −0.697%

Price spread now: BloFin against Injective−1.643%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−3.153%−$315 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 −$93 a day on $10k at the current rate, and BloFin is 1.643% cheaper against Injective than usual: you would sell low and buy high (−$164 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	321.91	0.3512	pay 0.0439% / 1h	52m 48s	$23K	$2K	12x
Short	BloFin TAO-USDT	316.62	0.0405	get 0.0202% / 4h	3h 52m	$4.8M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −1.643%Rate

Funding earned: −$652.56
Price spread: −1.643% → 0.000%: −$164.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$828.91
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BloFin: 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 BloFin live order book, 6 min ago	3.61 bp	10.8 bp −$11	14.0 bp −$140	30.7 bp −$3,065	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.63	−1.950%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.94	−1.544%	$49K	$718K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	316.70	−1.618%	$1K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.30	−1.743%	$26.3M	$130.8M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.09	−1.497%	$168K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.20	−1.774%	$14.8M	$49.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.38	−1.718%	$17.8M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.11	−1.802%	$35.6M	$57.7M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.18	−1.779%	$541K	$887K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.06	−1.507%	$87K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	316.36	−1.724%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.33	−1.733%	$115K	$590K	20x	as long as short
ApeX Omni TAOUSDT	+0.0101%	1h	315.82	−1.892%	$45K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.69	−1.621%	$174K	$998	3x	as long as short
dYdX TAO-USD	+0.0143%	1h	316.16	−1.786%	$127K	$86K	5x	as long as short
Binance TAOUSDT	+0.0165%	4h	316.45	−1.696%	$92.6M	$531.8M	75x	as long as short
MEXC TAO_USDT	+0.0166%	4h	316.56	−1.662%	$103.9M	$151.3M	300x	as long as short
edgeX TAOUSDC	+0.0172%	4h	315.95	−1.853%	$42K	$320K	10x	as long as short
BingX TAO-USDT	+0.0176%	4h	316.51	−1.677%	—	$37.3M	—	as long as short
Orderly PERP_TAO_USDC	+0.0196%	4h	316.60	−1.650%	$54K	$299K	10x	as long as short
Paradex TAO-USD-PERP	+0.0251%	8h	316.60	−1.651%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0299%	1h	316.60	−1.649%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0342%	4h	316.44	−1.699%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	316.44	−1.700%	$371K	$454K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0366% / S −0.0107%	1h	316.21	−1.770%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0384%	1h	316.45	−1.697%	$899K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0404%	1h	316.95	−1.541%	$100K	$377K	5x	as long as short
BloFin TAO-USDTshort	+0.0405%	4h	316.62	−1.643%	$4.8M	$10.9M	100x
Deribit TAO_USDC-PERPETUAL	+0.0448%	1h	316.50	−1.680%	$15K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0560%	1h	316.52	−1.674%	$93.6M	$109.5M	5x	as long as short
Nado TAO-PERP	+0.0572%	1h	316.96	−1.537%	$778K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	318.30	−1.121%	$320K	$714K	5x	as long as short
Variational Omni TAO	+0.0589%	4h	316.63	−1.639%	$5.6M	$10.1M	—	as long as short
Phemex TAOUSDT	+0.0606%	4h	316.49	−1.684%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0648%	1h	316.81	−1.584%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	316.98	−1.531%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.78	−1.593%	$364	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0786%	1h	316.72	−1.614%	$6.0M	$21.4M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0829%	1h	316.77	−1.597%	$317K	$1.0M	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.73	−1.611%	$449K	$668K	5x	as long as short
Bybit TAOUSDT	+0.0913%	4h	316.48	−1.687%	$69.7M	$156.3M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.34	−1.420%	$1.2M	$7.3M	50x	as long as short
Injective TAO/USDC PERPlong	+0.3512%	1h	321.91	long leg	$23K	$2K	12x