Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.4305%/8h= −471.4% APRpaid last 24h −0.817%

Price spread now: KuCoin against Injective−1.391%70s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−3.640%−$364 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 −$129 a day on $10k at the current rate, and KuCoin is 1.391% cheaper against Injective than usual: you would sell low and buy high (−$139 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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	318.52	0.4405	pay 0.0551% / 1h	28m 10s	$23K	$2K	12x
Short	KuCoin TAOUSDTM	314.09	0.0100	get 0.0050% / 4h	1h 28m	$17.3M	$31.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.391%Rate

Funding earned: −$904.08
Price spread: −1.391% → 0.000%: −$139.08
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,055.18
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	2.07 bp	15.0 bp −$15	23.7 bp −$237	doesn't fit	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 exchanges

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 −0.0003%	1h	314.00	−1.418%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.28	−1.331%	$52K	$633K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	−1.388%	$26.6M	$127.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.80	−1.482%	$15.8M	$48.1M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	314.09	−1.391%	$17.3M	$31.2M	75x
Bitget TAOUSDT	+0.0100%	4h	313.93	−1.441%	$35.6M	$55.7M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.93	−1.441%	$44K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.09	−1.391%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.92	−1.444%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.69	−1.516%	$111K	$556K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0103%	8h	314.03	−1.410%	$1K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.00	−1.418%	$949K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0112%	1h	313.97	−1.427%	$172K	$998	3x	as long as short
Lighter TAO	+0.0120%	1h	314.20	−1.355%	$1.6M	$6.7M	5x	as long as short
MEXC TAO_USDT	+0.0124%	4h	314.23	−1.347%	$108.8M	$149.2M	300x	as long as short
Binance TAOUSDT	+0.0125%	4h	314.26	−1.339%	$92.5M	$511.2M	75x	as long as short
edgeX TAOUSDC	+0.0127%	4h	313.93	−1.442%	$42K	$325K	10x	as long as short
Bybit TAOUSDT	+0.0140%	4h	314.36	−1.306%	$68.7M	$155.5M	50x	as long as short
BingX TAO-USDT	+0.0166%	4h	314.16	−1.369%	—	$38.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0185%	8h	314.13	−1.377%	$14K	$876	10x	as long as short
GRVT TAO_USDT_Perp	+0.0218%	4h	313.65	−1.528%	$535K	$795K	10x	as long as short
Bullet TAO-USD	+0.0239%	1h	314.28	−1.330%	$12K	$16K	20x	as long as short
Pacifica TAO	+0.0240%	1h	314.12	−1.381%	$372K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0249%	4h	314.07	−1.397%	$52K	$262K	10x	as long as short
Phemex TAOUSDT	+0.0253%	4h	314.13	−1.378%	$3.2M	$8.2M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0276%	1h	314.08	−1.394%	$16K	$1.9M	25x	as long as short
Aster TAOUSDT	+0.0280%	4h	314.23	−1.347%	$1.2M	$11.3M	50x	as long as short
Nado TAO-PERP	+0.0348%	1h	314.22	−1.349%	$670K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0358% / S −0.0107%	1h	313.71	−1.509%	$368K	—	100x	as long as short
BloFin TAO-USDT	+0.0366%	4h	314.05	−1.403%	$4.8M	$10.6M	100x	as long as short
Variational Omni TAO	+0.0466%	4h	313.94	−1.438%	$5.6M	$9.9M	—	as long as short
Hyperliquid TAO	+0.0487%	1h	314.38	−1.301%	$94.5M	$106.7M	5x	as long as short
01 Exchange TAOUSD	+0.0496%	1h	314.39	−1.297%	$3K	$2K	5x	as long as short
dYdX TAO-USD	+0.0597%	1h	313.66	−1.526%	$264K	$230K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	314.39	−1.297%	$100K	$311K	5x	as long as short
Phoenix TAO	+0.0650%	1h	314.30	−1.325%	$316K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0663%	1h	314.25	−1.341%	$300K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	313.95	−1.435%	$429K	$671K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	314.17	−1.366%	$1.1M	$7.5M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.19	−1.359%	$361	—	20x	as long as short
Bulk TAO-USD	+0.0827%	1h	315.24	−1.031%	$167K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0938%	1h	314.21	−1.354%	$6.3M	$19.6M	50x	as long as short
Injective TAO/USDC PERPlong	+0.4405%	1h	318.52	long leg	$23K	$2K	12x