Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3412%/8h= −373.6% APRpaid last 24h −0.773%

Price spread now: SunX against Injective−1.820%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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.562%−$356 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 −$102 a day on $10k at the current rate, and SunX is 1.820% cheaper against Injective than usual: you would sell low and buy high (−$182 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	50m 33s	$23K	$2K	12x
Short	SunX TAO-USDT	316.05	0.0100	get 0.0050% / 4h	3h 50m	$1K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −1.820%Rate

Funding earned: −$716.55
Price spread: −1.820% → 0.000%: −$182.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$906.61
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	500.14 bp	doesn't fit	doesn't fit	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 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	316.03	−1.827%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0095%	1h	315.36	−2.035%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.31	−2.050%	$49K	$717K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	315.22	−2.078%	$2K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.30	−2.053%	$26.3M	$130.5M	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	315.20	−2.084%	$14.8M	$49.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.42	−2.016%	$17.7M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.24	−2.072%	$35.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.30	−1.743%	$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-USDTshort	+0.0100%	4h	316.05	−1.820%	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	315.07	−2.125%	$116K	$589K	20x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.11	−1.802%	$174K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0140%	4h	316.42	−1.706%	$542K	$887K	10x	as long as short
MEXC TAO_USDT	+0.0164%	4h	315.40	−2.022%	$103.6M	$151.4M	300x	as long as short
Binance TAOUSDT	+0.0164%	4h	315.25	−2.069%	$92.3M	$531.7M	75x	as long as short
edgeX TAOUSDC	+0.0167%	4h	316.51	−1.678%	$42K	$320K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0199%	4h	315.85	−1.883%	$54K	$299K	10x	as long as short
Paradex TAO-USD-PERP	+0.0251%	8h	315.53	−1.982%	$14K	$876	10x	as long as short
Bullet TAO-USD	+0.0293%	1h	316.35	−1.728%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0308%	1h	316.74	−1.606%	$46K	$259K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	315.24	−2.072%	$1.2M	$11.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0331%	1h	315.79	−1.902%	$15K	$1.9M	25x	as long as short
Pacifica TAO	+0.0349%	1h	315.64	−1.948%	$370K	$454K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0365% / S −0.0107%	1h	316.02	−1.829%	$371K	—	100x	as long as short
Extended TAO-USD	+0.0384%	1h	315.37	−2.032%	$894K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0404%	4h	315.64	−1.948%	$4.8M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	315.74	−1.917%	$99K	$377K	5x	as long as short
Bybit TAOUSDT	+0.0566%	4h	315.33	−2.044%	$69.4M	$156.3M	50x	as long as short
Hyperliquid TAO	+0.0574%	1h	315.76	−1.910%	$93.2M	$109.9M	5x	as long as short
Phoenix TAO	+0.0578%	1h	316.50	−1.681%	$318K	$714K	5x	as long as short
Nado TAO-PERP	+0.0582%	1h	315.35	−2.039%	$774K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0612%	4h	316.00	−1.835%	$5.6M	$10.1M	—	as long as short
01 Exchange TAOUSD	+0.0640%	1h	315.52	−1.985%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0680%	1h	315.85	−1.883%	$1.6M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.30	−1.742%	$364	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0788%	1h	315.69	−1.932%	$5.9M	$21.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0806%	1h	315.48	−1.997%	$315K	$1.0M	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	315.33	−2.043%	$447K	$667K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	316.24	−1.761%	$1.2M	$7.2M	50x	as long as short
Phemex TAOUSDT	+0.1104%	4h	315.68	−1.935%	$3.2M	$8.2M	50x	as long as short
BingX TAO-USDT	+0.1210%	4h	315.50	−1.991%	—	$37.4M	—	as long as short
Injective TAO/USDC PERPlong	+0.3512%	1h	321.91	long leg	$23K	$2K	12x