Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0471%/8h= −51.6% APRpaid last 24h −0.657%

Price spread now: OKX against Injective+0.456%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.437%−$344 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. OKX is 0.456% dearer against Injective than usual: you sell high and buy low (spread +0.456% now, against zero (this spread has no 7-day history yet)): +$46 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−3.437% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	317.85	0.0571	pay 0.0071% / 1h	57m 03s	$23K	$370	12x
Short	OKX TAO-USDT-SWAP	319.30	0.0100	get 0.0100% / 8h	7h 57m	$25.8M	$106.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.456%Rate

Funding earned: −$99
Price spread: +0.456% → 0.000%: $45.62
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$63.4
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	1.57 bp	10.4 bp −$10	18.5 bp −$185	61.7 bp −$6,172	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	−0.1799%	1h	311.96	−1.853%	$167K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.22	+0.116%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.94	+0.659%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.63	+0.245%	$39K	$575K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	318.71	+0.271%	$1K	$589K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.44	+0.500%	$91.3M	$437.2M	75x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	319.30	+0.456%	$25.8M	$106.3M	50x
Gate TAO_USDT	+0.0100%	4h	319.30	+0.456%	$12.9M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.31	+0.459%	$104.4M	$130.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.13	+0.717%	$19.1M	$28.2M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	319.10	+0.393%	$35.7M	$48.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	319.13	+0.402%	$42K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	317.42	−0.134%	$531K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.82	−0.639%	$47K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	320.04	+0.689%	$57K	$314K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.98	+0.670%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.89	+0.642%	$128K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.57	+0.541%	$3.5M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	321.87	+1.265%	$177K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0170%	1h	319.99	+0.674%	$27K	$1.5M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	319.83	+0.622%	$454K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.64	+0.249%	$377K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.07	+0.384%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0207%	4h	319.56	+0.539%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0212%	8h	318.68	+0.261%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0233%	4h	316.35	−0.471%	$5.4M	$8.5M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	320.00	+0.676%	$4.4M	$10.8M	100x	as long as short
Bullet TAO-USD	+0.0360%	1h	320.19	+0.736%	$12K	$17K	20x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.52	+0.525%	—	$30.7M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	319.95	+0.660%	$5.8M	$20.2M	50x	as long as short
Polymarket Perps TAO-USD	+0.0523%	1h	319.54	+0.532%	$118K	$613K	5x	as long as short
Phoenix TAO	+0.0537%	1h	319.30	+0.456%	$335K	$624K	5x	as long as short
Injective TAO/USDC PERPlong	+0.0571%	1h	317.85	long leg	$23K	$370	12x
Bybit TAOUSDT	+0.0629%	4h	319.69	+0.579%	$65.6M	$129.6M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.40	+0.488%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0856%	1h	319.07	+0.384%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0901%	1h	319.24	+0.438%	$884K	$2.0M	10x	as long as short
Extended TAO-USD	+0.0968%	1h	319.23	+0.433%	$927K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.81	+0.931%	$1.5M	$6.0M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	318.78	+0.293%	$419K	$585K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1201%	1h	319.68	+0.576%	$317K	$817K	10x	as long as short
Lighter TAO	+0.1912%	1h	320.60	+0.864%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2990%	1h	320.42	+0.809%	$104.6M	$88.2M	5x	as long as short