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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.087%
Price spread now: BingX against Kraken Futures+0.069%53s7-day average −0.053% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$420.425% of the position
Long on Kraken FuturesShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.238%−$24 on $10k
Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.069%, 7d avg −0.053%
Together, before fees−0.398%−$40 on $10k · with fees, hour by hour
The price spread pays, funding is against you. BingX is 0.122% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of −0.053%): +$12 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 45 hours. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_TAOUSD316.620.0786pay 0.0098% / 1h46m 20s$6.0M$21.3M50x
ShortBingX TAO-USDT316.840.0568get 0.0284% / 4h3h 46m—$37.4M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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

Funding earned
−$45.81
Price spread: +0.069% → −0.053%
$12.22
Slippage, 4 orders
−$22.5
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee BingX: 5 bp × 2 orders
−$10
Net
−$76.09
Costs to cover
0.425%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; BingX: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 3 min ago6.31 bp12.5 bp −$1221.1 bp −$21197.2 bp −$9,720doesn't fit
Sell BingX live order book, 8 min ago0.63 bp7.8 bp −$813.0 bp −$13024.6 bp −$2,46150.3 bp −$25.2K

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0005%1h316.60−0.006%$22K—150xas long as short
dYdX TAO-USD+0.0066%1h316.46−0.052%$127K$86K5xas long as short
Popdex TAOUSDT+0.0096%1h316.86+0.075%$50K$717K20xas long as short
Katana Perps TAO-USD+0.0100%8h316.69+0.021%$919$1.2M5xas long as short
OKX TAO-USDT-SWAP+0.0100%8h316.80+0.056%$26.4M$131.2M50xas long as short
Gate TAO_USDT+0.0100%4h316.70+0.025%$14.9M$49.2M50xas long as short
KuCoin TAOUSDTM+0.0100%4h316.63+0.002%$17.8M$32.4M75xas long as short
Bitget TAOUSDT+0.0100%4h316.51−0.035%$35.6M$57.8M50xas long as short
Polymarket Perps TAO-USD+0.0100%1h316.92+0.094%$87K$1.2M5xas long as short
SunX TAO-USDT+0.0100%4h316.94+0.100%$1K$1.9M20xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX TAO-USDT+0.0100%4h316.41−0.067%$116K$589K20xas long as short
Phemex TAOUSDT+0.0100%4h316.55−0.023%$3.2M$8.2M50xas long as short
Aevo TAO-PERP+0.0120%1h316.98+0.115%$174K$9983xas long as short
MEXC TAO_USDT+0.0160%4h316.91+0.091%$104.4M$151.6M300xas long as short
edgeX TAOUSDC+0.0164%4h316.63+0.004%$42K$321K10xas long as short
Binance TAOUSDT+0.0165%4h316.90+0.089%$92.7M$531.9M75xas long as short
Orderly PERP_TAO_USDC+0.0206%4h316.80+0.056%$54K$299K10xas long as short
Bullet TAO-USD+0.0225%1h316.59−0.010%$12K$17K20xas long as short
GRVT TAO_USDT_Perp+0.0228%4h316.92+0.093%$542K$887K10xas long as short
Bulk TAO-USD+0.0233%1h316.19−0.137%$168K$010xas long as short
Paradex TAO-USD-PERP+0.0251%8h316.91+0.090%$14K$87610xas long as short
Deribit TAO_USDC-PERPETUAL+0.0289%1h316.57−0.015%$15K$1.9M25xas long as short
ApeX Omni TAOUSDT+0.0294%1h316.58−0.013%$46K$259K50xas long as short
Aster TAOUSDT+0.0326%4h316.96+0.107%$1.2M$11.1M50xas long as short
Pacifica TAO+0.0349%1h316.87+0.077%$371K$442K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0362% / S −0.0107%1h316.59−0.010%$372K—100xas long as short
Extended TAO-USD+0.0376%1h316.71+0.027%$899K$2.4M25xas long as short
BloFin TAO-USDT+0.0402%4h316.72+0.031%$4.8M$10.9M100xas long as short
Arcus TAO-USD+0.0404%1h317.05+0.135%$100K$377K5xas long as short
Bybit TAOUSDT+0.0481%4h316.94+0.100%$69.8M$156.2M50xas long as short
Hyperliquid TAO+0.0522%1h316.92+0.094%$93.4M$110.1M5xas long as short
BingX TAO-USDTshort+0.0568%4h316.84+0.069%—$37.4M—
Nado TAO-PERP+0.0569%1h316.80+0.057%$769K$2.0M10xas long as short
Phoenix TAO+0.0578%1h315.60−0.323%$317K$714K5xas long as short
Variational Omni TAO+0.0612%4h316.00−0.196%$5.6M$10.1M—as long as short
01 Exchange TAOUSD+0.0616%1h317.23+0.192%$3K$4K5xas long as short
Lighter TAO+0.0640%1h316.88+0.080%$1.6M$6.6M5xas long as short
Reya TAORUSDPERP+0.0698%1h316.86+0.076%$364—20xas long as short
Kraken Futures PF_TAOUSDlong+0.0786%1h316.62long leg$6.0M$21.3M50x
Backpack TAO_USDC_PERP+0.0786%1h316.79+0.053%$317K$1.0M10xas long as short
RISEx TAO/USDC+0.0840%1h316.82+0.061%$446K$673K5xas long as short
Coinbase International TAO-PERP-INTX+0.0944%1h316.98+0.113%$1.2M$7.3M50xas long as short
Injective TAO/USDC PERP+0.3512%1h319.36+0.865%$23K$2K12xas long as short